Insider Selling: Viavi Solutions Inc. (VIAV) SVP Sells 6,179 Shares of Stock
Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 6,179 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $10.21, for a total transaction of $63,087.59. Following the transaction, the senior vice president now directly owns 18,938 shares of the company’s stock, valued at $193,356.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Viavi Solutions Inc. (VIAV) remained flat at $10.11 during midday trading on Tuesday. The company had a trading volume of 1,230,807 shares. Viavi Solutions Inc. has a 12 month low of $6.99 and a 12 month high of $11.89. The firm has a market capitalization of $2.30 billion, a P/E ratio of 14.30 and a beta of 1.36. The stock’s 50 day moving average is $10.77 and its 200 day moving average is $10.65.
Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. The firm had revenue of $198.10 million for the quarter, compared to the consensus estimate of $196.22 million. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities research analysts anticipate that Viavi Solutions Inc. will post $0.41 earnings per share for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Viavi Solutions by 4.4% in the first quarter. Vanguard Group Inc. now owns 20,894,176 shares of the communications equipment provider’s stock worth $223,986,000 after buying an additional 873,359 shares in the last quarter. DnB Asset Management AS purchased a new stake in Viavi Solutions during the second quarter worth approximately $4,523,000. Comerica Bank increased its stake in Viavi Solutions by 4.3% in the first quarter. Comerica Bank now owns 255,467 shares of the communications equipment provider’s stock worth $2,557,000 after buying an additional 10,544 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Viavi Solutions by 88.3% in the first quarter. TIAA CREF Investment Management LLC now owns 1,276,548 shares of the communications equipment provider’s stock worth $13,685,000 after buying an additional 598,673 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Viavi Solutions by 3.4% in the first quarter. Principal Financial Group Inc. now owns 1,778,812 shares of the communications equipment provider’s stock worth $19,069,000 after buying an additional 58,706 shares in the last quarter. 92.77% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on VIAV shares. Zacks Investment Research lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. BidaskClub cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 price objective (up previously from $9.50) on shares of Viavi Solutions in a research note on Thursday, June 22nd. B. Riley reaffirmed a “buy” rating and set a $14.00 price objective on shares of Viavi Solutions in a research note on Tuesday, August 15th. Finally, TheStreet cut shares of Viavi Solutions from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $12.34.
About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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