Viavi Solutions (NASDAQ:VIAV) Shares Gap Down to $7.10

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) gapped down before the market opened on Wednesday . The stock had previously closed at $7.10, but opened at $6.82. Viavi Solutions shares last traded at $6.97, with a volume of 206,861 shares traded.

Analysts Set New Price Targets

Several analysts have issued reports on VIAV shares. Stifel Nicolaus restated a “buy” rating and issued a $13.00 price objective on shares of Viavi Solutions in a research note on Monday, April 1st. Northland Securities raised their target price on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $8.25 in a report on Wednesday. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given 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 $11.65.

Viavi Solutions Price Performance

The firm’s 50-day moving average is $7.61 and its 200-day moving average is $8.92. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.55 billion, a PE ratio of -348.50 and a beta of 0.94.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The firm had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $249.08 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The business’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.35, for a total transaction of $35,000.70. Following the transaction, the executive vice president now owns 49,777 shares in the company, valued at approximately $365,860.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 14,985 shares of company stock worth $109,969. 1.80% of the stock is owned by insiders.

Institutional Trading of Viavi Solutions

Large investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. lifted its position in shares of Viavi Solutions by 0.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 6,597,181 shares of the communications equipment provider’s stock worth $59,968,000 after purchasing an additional 23,846 shares during the period. Boston Partners purchased a new position in shares of Viavi Solutions during the first quarter worth $795,000. Tidal Investments LLC purchased a new position in shares of Viavi Solutions during the first quarter worth $564,000. Bayesian Capital Management LP acquired a new stake in Viavi Solutions during the first quarter valued at $176,000. Finally, Price T Rowe Associates Inc. MD grew its position in Viavi Solutions by 5.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 158,829 shares of the communications equipment provider’s stock valued at $1,445,000 after buying an additional 7,796 shares during the period. 95.54% of the stock is currently owned by 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.