Viavi Solutions (NASDAQ:VIAV) Trading Down 2.7%

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report)'s stock price dropped 2.7% during mid-day trading on Thursday . The stock traded as low as $9.25 and last traded at $9.32. Approximately 475,016 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,188,577 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Rosenblatt Securities raised their price objective on Viavi Solutions from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a report on Friday, March 15th. Susquehanna boosted their target price on shares of Viavi Solutions from $12.00 to $14.00 and gave the stock a "positive" rating in a research report on Thursday, March 7th. Finally, Stifel Nicolaus raised shares of Viavi Solutions from a "hold" rating to a "buy" rating and raised their price target for the company from $10.00 to $13.00 in a research report on Monday, February 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Viavi Solutions has an average rating of "Moderate Buy" and a consensus target price of $13.50.

Viavi Solutions Trading Down 5.1 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The firm's fifty day moving average is $9.78 and its two-hundred day moving average is $9.15. The firm has a market capitalization of $2.02 billion, a PE ratio of 454.50 and a beta of 0.96.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $254.50 million for the quarter, compared to analysts' expectations of $249.77 million. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. On average, equities analysts predict that Viavi Solutions Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the sale, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the transaction, the senior vice president now directly owns 47,097 shares of the company's stock, valued at $503,937.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The disclosure for this sale can be found here. Insiders sold a total of 30,093 shares of company stock valued at $319,841 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viavi Solutions

Large investors have recently modified their holdings of the business. Raymond James & Associates grew its stake in Viavi Solutions by 2.5% in the 1st quarter. Raymond James & Associates now owns 48,044 shares of the communications equipment provider's stock valued at $773,000 after buying an additional 1,181 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Viavi Solutions by 32.3% in the first quarter. PNC Financial Services Group Inc. now owns 42,279 shares of the communications equipment provider's stock valued at $680,000 after purchasing an additional 10,316 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Viavi Solutions by 8.3% during the 1st quarter. Natixis Advisors L.P. now owns 115,782 shares of the communications equipment provider's stock worth $1,862,000 after purchasing an additional 8,863 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Viavi Solutions by 46.8% in the 1st quarter. MetLife Investment Management LLC now owns 120,492 shares of the communications equipment provider's stock worth $1,938,000 after purchasing an additional 38,396 shares during the period. Finally, Ergoteles LLC bought a new position in Viavi Solutions in the 1st quarter worth about $1,104,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

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.