Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich Sells 14,323 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 14,323 shares of Viavi Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the sale, the senior vice president now directly owns 55,877 shares of the company’s stock, valued at $628,057.48. The trade was a 20.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Viavi Solutions Price Performance

VIAV opened at $11.29 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The stock has a market capitalization of $2.51 billion, a PE ratio of -62.72 and a beta of 0.92. The stock’s 50 day moving average price is $10.97 and its 200-day moving average price is $9.93. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $12.91.

Analyst Ratings Changes

Several equities research analysts have weighed in on VIAV shares. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, January 31st. B. Riley upped their price target on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley raised their price target on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Argus upped their price objective on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Finally, Northland Securities reissued an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.33.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VIAV. Jefferies Financial Group Inc. bought a new position in Viavi Solutions in the fourth quarter worth about $2,059,000. Mackenzie Financial Corp grew its position in shares of Viavi Solutions by 117.5% in the 4th quarter. Mackenzie Financial Corp now owns 59,492 shares of the communications equipment provider’s stock worth $601,000 after buying an additional 32,145 shares during the period. Neo Ivy Capital Management bought a new position in shares of Viavi Solutions in the 4th quarter worth about $188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Viavi Solutions by 26.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 509,746 shares of the communications equipment provider’s stock valued at $5,148,000 after acquiring an additional 107,917 shares during the period. Finally, Woodline Partners LP boosted its stake in Viavi Solutions by 423.7% during the fourth quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider’s stock worth $34,700,000 after acquiring an additional 2,779,615 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.