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

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $8.20, for a total transaction of $123,000.00.
• On Wednesday, August 21st, Masood Jabbar sold 30,000 shares of Viavi Solutions stock. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00.

Viavi Solutions Trading Down 1.9 %

Shares of Viavi Solutions stock opened at $9.87 on Friday. The business has a fifty day simple moving average of $9.18 and a 200-day simple moving average of $8.16. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -58.06 and a beta of 0.90. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91.

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, meeting analysts’ consensus estimates of $0.06. The company had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. Viavi Solutions’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. On average, equities analysts forecast that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its stake in shares of Viavi Solutions by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after acquiring an additional 2,100 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Viavi Solutions by 24.0% in the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 2,300 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Viavi Solutions by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock valued at $1,771,000 after purchasing an additional 2,754 shares during the period. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions during the 3rd quarter worth about $25,000. Finally, QRG Capital Management Inc. lifted its stake in Viavi Solutions by 15.6% during the first quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock valued at $194,000 after buying an additional 2,883 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Northland Securities raised their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. B. Riley cut their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. 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. Finally, Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.42.

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.