Pamela J. Strayer Sells 44,278 Shares of Viavi Solutions Inc (VIAV) Stock
Viavi Solutions Inc (NASDAQ:VIAV) Director Pamela J. Strayer sold 44,278 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $9.72, for a total value of $430,382.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Viavi Solutions Inc (NASDAQ VIAV) opened at $9.79 on Friday. The firm has a market capitalization of $2,260.00, a PE ratio of 97.90, a PEG ratio of 1.56 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.06. Viavi Solutions Inc has a one year low of $8.34 and a one year high of $11.89.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $201.80 million during the quarter, compared to analysts’ expectations of $185.80 million. Viavi Solutions had a return on equity of 9.60% and a net margin of 3.94%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. sell-side analysts expect that Viavi Solutions Inc will post 0.31 EPS for the current year.
Several equities analysts have commented on the company. Zacks Investment Research downgraded Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. BidaskClub upgraded Viavi Solutions from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Stifel Nicolaus upgraded Viavi Solutions from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $12.00 in a research report on Friday, February 2nd. Morgan Stanley increased their target price on Viavi Solutions from $9.00 to $10.50 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Finally, Loop Capital assumed coverage on Viavi Solutions in a research report on Monday, January 29th. They issued a “hold” rating and a $9.50 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.93.
Several hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC increased its stake in shares of Viavi Solutions by 101.3% in the fourth quarter. Clearbridge Investments LLC now owns 2,926,401 shares of the communications equipment provider’s stock valued at $25,577,000 after buying an additional 1,472,610 shares during the period. Macquarie Group Ltd. increased its stake in shares of Viavi Solutions by 41.8% in the fourth quarter. Macquarie Group Ltd. now owns 2,778,792 shares of the communications equipment provider’s stock valued at $24,287,000 after buying an additional 818,770 shares during the period. Deutsche Bank AG increased its stake in shares of Viavi Solutions by 22.7% in the fourth quarter. Deutsche Bank AG now owns 2,496,609 shares of the communications equipment provider’s stock valued at $21,819,000 after buying an additional 461,871 shares during the period. Victory Capital Management Inc. increased its stake in shares of Viavi Solutions by 15.4% in the third quarter. Victory Capital Management Inc. now owns 2,174,741 shares of the communications equipment provider’s stock valued at $20,573,000 after buying an additional 289,411 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Viavi Solutions by 6.7% in the third quarter. Neuberger Berman Group LLC now owns 2,038,961 shares of the communications equipment provider’s stock valued at $19,289,000 after buying an additional 127,313 shares during the period. 91.54% of the stock is owned by institutional investors.
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About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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