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

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the transaction, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, October 14th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The stock was sold at an average price of $9.17, for a total value of $137,550.00.
• On Monday, September 16th, Masood Jabbar sold 15,000 shares of Viavi Solutions stock. The stock was sold at an average price of $8.20, for a total value of $123,000.00.
• 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 1.7 %

Shares of VIAV traded down $0.17 during mid-day trading on Thursday, reaching $10.06. The company’s stock had a trading volume of 2,170,272 shares, compared to its average volume of 1,801,963. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $11.32. The stock has a market cap of $2.23 billion, a PE ratio of -60.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The company’s 50 day moving average is $9.10 and its 200 day moving average is $8.13.

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

Analyst Ratings Changes

Several brokerages have commented on VIAV. Rosenblatt Securities upped their price objective on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Stifel Nicolaus decreased their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. B. Riley cut their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds have recently bought and sold shares of VIAV. Capital World Investors increased its position in 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 in the last quarter. Capital Research Global Investors acquired a new position in shares of Viavi Solutions during the first quarter worth about $29,526,000. Bank of New York Mellon Corp increased its position 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 acquiring an additional 1,298,394 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after acquiring an additional 661,450 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of Viavi Solutions by 9.2% during the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after acquiring an additional 606,522 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

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.