Viavi Solutions (NASDAQ:VIAV) Shares Gap Down – What’s Next?

Viavi Solutions Inc. (NASDAQ:VIAV)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $11.16, but opened at $10.64. Viavi Solutions shares last traded at $10.66, with a volume of 160,843 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VIAV. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Monday. Rosenblatt Securities upped their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Morgan Stanley reiterated an “underweight” rating and set a $9.50 price target (up from $8.00) on shares of Viavi Solutions in a report on Tuesday. UBS Group assumed coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Trading Down 6.1 %

The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.32 billion, a PE ratio of -61.53 and a beta of 0.92. The business’s fifty day moving average is $9.88 and its 200-day moving average is $8.57.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. As a group, analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at $507,846.34. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,831 shares of company stock worth $345,712 in the last three months. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions during the 3rd quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Viavi Solutions in the second quarter valued at approximately $38,000. Quarry LP raised its stake in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC acquired a new position in shares of Viavi Solutions during the second quarter worth $52,000. Finally, KBC Group NV boosted its stake in shares of Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

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.