Viavi Solutions (NASDAQ:VIAV) Trading Down 2.7%

Viavi Solutions Inc. (NASDAQ:VIAV) fell 2.7% on Thursday . The company traded as low as $9.25 and last traded at $9.32. 475,016 shares were traded during mid-day trading, a decline of 78% from the average session volume of 2,188,577 shares. The stock had previously closed at $9.58.

Analysts Set New Price Targets

A number of brokerages have weighed in on VIAV. Stifel Nicolaus raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and upped their price target for the company from $10.00 to $13.00 in a report on Monday, February 12th. Rosenblatt Securities boosted their price objective on Viavi Solutions from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Morgan Stanley upped their target price on Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, Northland Securities upped 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Viavi Solutions Trading Down 5.1 %

The firm has a market cap of $2.02 billion, a P/E ratio of 455.00 and a beta of 0.96. The company has a 50 day moving average of $9.80 and a 200 day moving average of $9.15. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $254.50 million during the quarter, compared to analysts’ expectations of $249.77 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. Analysts predict that Viavi Solutions Inc. will post 0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at $503,937.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at $615,322.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the sale, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at $503,937.90. The disclosure for this sale can be found here. Insiders sold 30,093 shares of company stock valued at $319,841 over the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

Hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC bought a new stake in shares of Viavi Solutions in the third quarter valued at approximately $3,067,000. GSA Capital Partners LLP acquired a new position in shares of Viavi Solutions in the third quarter valued at $673,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Viavi Solutions in the third quarter valued at $255,000. Wellington Management Group LLP raised its stake in shares of Viavi Solutions by 9.0% in the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock valued at $145,558,000 after purchasing an additional 1,321,599 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Viavi Solutions in the third quarter valued at $1,911,000. 95.54% of the stock is 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.