Viavi Solutions (NASDAQ:VIAV) Shares Gap Down – What’s Next?

Viavi Solutions Inc. (NASDAQ:VIAV) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.16, but opened at $10.64. Viavi Solutions shares last traded at $10.66, with a volume of 160,843 shares trading hands.

Analyst Ratings Changes

VIAV has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. Stifel Nicolaus boosted their price target on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Monday. Northland Securities boosted their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Stock Down 6.1 %

The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -61.53 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The business has a 50-day simple moving average of $9.88 and a two-hundred day simple moving average of $8.57.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. As a group, equities analysts predict that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at $1,957,923.38. This represents a 6.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the transaction, the senior vice president now owns 54,517 shares of the company’s stock, valued at $568,612.31. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,831 shares of company stock valued at $345,712 over the last ninety days. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions during the 3rd quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Viavi Solutions during the 2nd quarter worth $38,000. Quarry LP boosted its position in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 5,838 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Viavi Solutions in the 2nd quarter worth about $52,000. Finally, Sanctuary Advisors LLC acquired a new stake in Viavi Solutions in the 2nd quarter valued at about $76,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

About Viavi Solutions

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.