Short Interest in Viavi Solutions Inc. (NASDAQ:VIAV) Increases By 138,990.9%

Key Points

• Viavi Solutions Inc. experienced a dramatic rise in short interest, with total shares short increasing by 138,990.9% from the previous month, now totaling 7,650,000 shares.
• Insider trading activity shows that Director Richard Belluzzo sold 8,385 shares for approximately $84,017, reducing his ownership by 3.34%.
• Institutional investors own 95.54% of Viavi Solutions' stock, with notable recent activity including Envestnet Asset Management increasing its stake by 27.5%.

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 7,650,000 shares, agrowthof138,990.9% from the June 30th total of 5,500 shares. Based on an average trading volume of 2,240,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately3.5% of the shares of the company are short sold. Approximately3.5% of the shares of the company are short sold. Based on an average trading volume of 2,240,000 shares, the days-to-cover ratio is presently 3.4 days.

Viavi Solutions Trading Down 0.9%

Shares of Viavi Solutions stock traded down $0.10 during midday trading on Tuesday, reaching $9.92. 387,887 shares of the company's stock traded hands, compared to its average volume of 2,140,999. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53. The company has a market cap of $2.21 billion, a PE ratio of 495.00 and a beta of 0.87. The stock has a 50 day moving average of $9.83 and a 200-day moving average of $10.36. Viavi Solutions has a 12 month low of $7.05 and a 12 month high of $12.91.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total transaction of $84,017.70. Following the sale, the director owned 242,311 shares in the company, valued at $2,427,956.22. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.52% of the company's stock.

Institutional Trading of Viavi Solutions

Institutional investors have recently made changes to their positions in the stock. Family Legacy Financial Solutions LLC purchased a new position in Viavi Solutions in the 2nd quarter worth approximately $43,000. USA Financial Formulas bought a new position in Viavi Solutions in the 1st quarter worth approximately $53,000. AlphaQuest LLC bought a new position in Viavi Solutions in the 1st quarter worth approximately $55,000. First Horizon Advisors Inc. boosted its stake in Viavi Solutions by 29.1% in the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 1,138 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after purchasing an additional 6,171 shares during the period. Hedge funds and other institutional investors own 95.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VIAV shares. Rosenblatt Securities restated a "buy" rating and issued a $13.50 target price on shares of Viavi Solutions in a research note on Friday, June 20th. Needham & Company LLC reissued a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a report on Friday, May 2nd. Wall Street Zen raised Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Morgan Stanley dropped their price objective on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Finally, B. Riley lowered their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $12.69.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.