Masood Jabbar Sells 15,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV) Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 228,514 shares in the company, valued at $1,873,814.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Masood Jabbar also recently made the following trade(s):

• On Wednesday, August 21st, Masood Jabbar sold 30,000 shares of Viavi Solutions stock. The shares were sold at an average price of $8.17, for a total value of $245,100.00.

Viavi Solutions Stock Down 0.7 %

Shares of Viavi Solutions stock traded down $0.06 during trading hours on Monday, reaching $8.32. 733,337 shares of the company were exchanged, compared to its average volume of 1,809,369. The firm has a market cap of $1.85 billion, a PE ratio of -419.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The stock’s fifty day moving average is $7.87 and its 200 day moving average is $8.12.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. As a group, equities research analysts forecast that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds have recently made changes to their positions in the company. Capital World Investors boosted its stake in shares of Viavi Solutions by 305.4% during the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after buying an additional 9,161,535 shares during the period. Capital Research Global Investors purchased a new position in shares of Viavi Solutions in the 1st quarter valued at approximately $29,526,000. Norges Bank acquired a new position in shares of Viavi Solutions in the fourth quarter valued at approximately $24,608,000. Bank of New York Mellon Corp raised its stake in shares of Viavi Solutions by 65.2% during the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Viavi Solutions by 20.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

VIAV has been the topic of a number of research analyst reports. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Stifel Nicolaus reduced their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Finally, B. Riley cut their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions has a consensus rating of “Moderate Buy” and an average price target of $10.71.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.