Insider Selling: Viavi Solutions Inc. (VIAV) SVP Sells 34,299 Shares of Stock
Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 34,299 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $7.31, for a total transaction of $250,725.69. Following the sale, the senior vice president now directly owns 41,438 shares in the company, valued at approximately $302,911.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Viavi Solutions Inc. (NASDAQ:VIAV) opened at 7.39 on Friday. Viavi Solutions Inc. has a 52-week low of $4.68 and a 52-week high of $7.94. The stock’s market capitalization is $1.72 billion. The company has a 50-day moving average of $7.59 and a 200-day moving average of $6.97.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. The company had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 EPS. Equities research analysts expect that Viavi Solutions Inc. will post $0.35 EPS for the current year.
A number of analysts have weighed in on VIAV shares. Jefferies Group raised their price objective on shares of Viavi Solutions from $5.75 to $7.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Thursday, September 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Monday, August 15th. MKM Partners reaffirmed a “buy” rating and issued a $8.50 target price on shares of Viavi Solutions in a report on Monday, September 19th. Finally, William Blair reaffirmed an “outperform” rating on shares of Viavi Solutions in a report on Friday, September 16th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Viavi Solutions presently has an average rating of “Hold” and an average price target of $7.45.
A number of hedge funds and other institutional investors have recently modified their holdings of VIAV. Nuveen Asset Management LLC acquired a new position in shares of Viavi Solutions during the second quarter valued at approximately $103,000. Legal & General Group Plc increased its position in shares of Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Viavi Solutions during the second quarter valued at approximately $121,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Viavi Solutions during the second quarter valued at approximately $130,000. 87.21% of the stock is currently owned by institutional investors.
Viavi Solutions Company Profile
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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