Viavi Solutions (NASDAQ:VIAV) Shares Down 2.7%

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

Analyst Ratings Changes

A number of equities analysts have issued reports on VIAV shares. Rosenblatt Securities lifted their price target on Viavi Solutions from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Susquehanna lifted their price target on Viavi Solutions from $12.00 to $14.00 and gave the company a “positive” rating in a research note on Thursday, March 7th. Stifel Nicolaus upgraded Viavi Solutions from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.00 to $13.00 in a research note on Monday, February 12th. Northland Securities boosted their target price on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Viavi Solutions Price Performance

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

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $254.50 million for the quarter, compared to analysts’ expectations of $249.77 million. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. As a group, sell-side analysts anticipate that Viavi Solutions Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Viavi Solutions news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction on Monday, March 11th. The stock was 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 owns 47,097 shares in the company, valued at approximately $503,937.90. The disclosure for this sale can be found here. Insiders have sold a total of 30,093 shares of company stock worth $319,841 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in Viavi Solutions by 2,189.8% in the fourth quarter. Lazard Asset Management LLC now owns 3,137 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 3,000 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Viavi Solutions in the third quarter valued at $92,000. Vanguard Personalized Indexing Management LLC bought a new position in Viavi Solutions in the second quarter valued at $140,000. Versor Investments LP bought a new position in shares of Viavi Solutions during the fourth quarter valued at about $110,000. Finally, Oak Thistle LLC bought a new position in shares of Viavi Solutions during the third quarter valued at about $101,000. Institutional investors own 95.54% of the company’s stock.

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.