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 the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.20, for a total value of $123,000.00. Following the transaction, the director now directly owns 228,514 shares in the company, valued at approximately $1,873,814.80. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 Stock Performance

Shares of VIAV opened at $8.28 on Thursday. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1.84 billion, a PE ratio of -414.00 and a beta of 0.91. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32. The stock has a fifty day moving average price of $7.95 and a 200-day moving average price of $8.10.

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

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mutual of America Capital Management LLC grew its position in Viavi Solutions by 423.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock worth $1,853,000 after purchasing an additional 164,889 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Viavi Solutions by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock worth $289,411,000 after buying an additional 451,354 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Viavi Solutions by 127.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock worth $1,862,000 after buying an additional 114,822 shares during the period. Franklin Resources Inc. grew its holdings in shares of Viavi Solutions by 12.9% during the fourth quarter. Franklin Resources Inc. now owns 2,498,711 shares of the communications equipment provider’s stock valued at $25,162,000 after buying an additional 285,907 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Viavi Solutions by 17.4% in the 1st quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock valued at $6,826,000 after acquiring an additional 111,500 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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