Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab Sells 5,920 Shares

Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab sold 5,920 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the sale, the executive vice president now owns 34,545 shares in the company, valued at $291,905.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Paul Mcnab also recently made the following trade(s):

• On Tuesday, August 13th, Paul Mcnab sold 7,324 shares of Viavi Solutions stock. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $8.38 on Monday. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The stock’s 50 day moving average is $7.87 and its 200-day moving average is $8.12. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -419.00 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. The business had revenue of $252.00 million during the quarter, compared to analyst estimates of $251.83 million. Sell-side analysts forecast that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Viavi Solutions during the 2nd quarter valued at about $76,000. Quarry LP boosted its position in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares during the last quarter. Algert Global LLC purchased a new position in shares of Viavi Solutions during the second quarter valued at approximately $154,000. Mackenzie Financial Corp grew its holdings in Viavi Solutions by 93.7% during the second quarter. Mackenzie Financial Corp now owns 27,382 shares of the communications equipment provider’s stock worth $188,000 after buying an additional 13,247 shares in the last quarter. Finally, Millennium Management LLC raised its position in Viavi Solutions by 41.6% in the 2nd quarter. Millennium Management LLC now owns 396,227 shares of the communications equipment provider’s stock valued at $2,722,000 after buying an additional 116,355 shares during the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VIAV shares. B. Riley dropped their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Stifel Nicolaus dropped their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Finally, StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

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.