Insider Selling: Viavi Solutions Inc. (NASDAQ:VIAV) EVP Sells 3,401 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) EVP Paul Mcnab sold 3,401 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $7.34, for a total transaction of $24,963.34. Following the transaction, the executive vice president now owns 54,539 shares in the company, valued at approximately $400,316.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Paul Mcnab also recently made the following trade(s):

• On Tuesday, March 12th, Paul Mcnab sold 15,004 shares of Viavi Solutions stock. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48.

Viavi Solutions Price Performance

VIAV traded down $0.09 during trading on Wednesday, hitting $7.34. 1,233,109 shares of the company traded hands, compared to its average volume of 2,079,466. The company has a market cap of $1.63 billion, a PE ratio of -367.00 and a beta of 0.97. The stock's 50-day simple moving average is $8.98 and its two-hundred day simple moving average is $9.04. Viavi Solutions Inc. has a 1 year low of $7.10 and a 1 year high of $11.65. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $246.00 million for the quarter, compared to analysts' expectations of $249.08 million. Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The business's revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. As a group, sell-side analysts anticipate that Viavi Solutions Inc. will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Viavi Solutions by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider's stock valued at $289,411,000 after buying an additional 451,354 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Viavi Solutions by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider's stock valued at $166,796,000 after buying an additional 638,309 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider's stock valued at $66,193,000 after buying an additional 1,103,687 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Viavi Solutions by 15.6% during the 4th quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider's stock valued at $53,592,000 after buying an additional 718,004 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Viavi Solutions by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,026,592 shares of the communications equipment provider's stock valued at $50,618,000 after buying an additional 202,387 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VIAV. Susquehanna downgraded shares of Viavi Solutions from a "positive" rating to a "neutral" rating and set a $9.00 price objective on the stock. in a research report on Friday, May 3rd. Northland Securities increased their price target on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 6th. Stifel Nicolaus reiterated a "buy" rating and issued a $13.00 price target on shares of Viavi Solutions in a research report on Monday, April 1st. StockNews.com upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Friday, April 12th. Finally, Morgan Stanley increased their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.00.

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.