Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar Sells 30,000 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Masood Jabbar sold 30,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now owns 243,514 shares of the company’s stock, valued at $1,989,509.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Viavi Solutions Stock Down 1.7 %

Viavi Solutions stock opened at $8.15 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16. The company’s 50-day moving average is $7.50 and its 200-day moving average is $8.26. The firm has a market capitalization of $1.82 billion, a PE ratio of -407.50 and a beta of 0.91. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Argus raised Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th. B. Riley reduced their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. StockNews.com cut Viavi Solutions from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.71.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors have recently bought and sold shares of VIAV. Louisiana State Employees Retirement System bought a new position in shares of Viavi Solutions during the 4th quarter worth approximately $1,121,000. Mackenzie Financial Corp boosted its position in Viavi Solutions by 60.4% during the fourth quarter. Mackenzie Financial Corp now owns 22,671 shares of the communications equipment provider’s stock worth $228,000 after purchasing an additional 8,536 shares during the period. Federated Hermes Inc. acquired a new position in shares of Viavi Solutions in the fourth quarter valued at $169,000. Handelsbanken Fonder AB raised its position in shares of Viavi Solutions by 7.4% in the fourth quarter. Handelsbanken Fonder AB now owns 33,210 shares of the communications equipment provider’s stock valued at $334,000 after purchasing an additional 2,300 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Viavi Solutions by 59.2% in the fourth quarter. New York State Common Retirement Fund now owns 251,525 shares of the communications equipment provider’s stock valued at $2,533,000 after purchasing an additional 93,563 shares during the period. Institutional investors and hedge funds 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.