Viavi Solutions Inc (NASDAQ:VIAV) EVP Paul Mcnab sold 3,725 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.73, for a total transaction of $36,244.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Viavi Solutions Inc (VIAV) traded down $0.15 during trading on Thursday, reaching $9.66. 1,442,659 shares of the company’s stock were exchanged, compared to its average volume of 2,700,000. The company has a current ratio of 2.18, a quick ratio of 2.06 and a debt-to-equity ratio of 0.48. Viavi Solutions Inc has a 12-month low of $8.34 and a 12-month high of $11.89. The company has a market cap of $2,200.00, a P/E ratio of 96.60, a PEG ratio of 1.61 and a beta of 1.80.
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 analysts’ consensus estimates of $0.07 by $0.02. Viavi Solutions had a net margin of 3.94% and a return on equity of 9.60%. The firm had revenue of $201.80 million during the quarter, compared to the consensus estimate of $185.80 million. During the same period in the prior year, the firm earned $0.10 EPS. The business’s revenue was down 2.3% on a year-over-year basis. analysts forecast that Viavi Solutions Inc will post 0.31 earnings per share for the current year.
Viavi Solutions announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. boosted its holdings in Viavi Solutions by 6.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,328,110 shares of the communications equipment provider’s stock valued at $12,564,000 after purchasing an additional 80,760 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Viavi Solutions in the 3rd quarter valued at $384,000. Fisher Asset Management LLC boosted its holdings in Viavi Solutions by 63.8% in the 3rd quarter. Fisher Asset Management LLC now owns 757,640 shares of the communications equipment provider’s stock valued at $7,167,000 after purchasing an additional 295,185 shares during the period. Stevens Capital Management LP boosted its holdings in Viavi Solutions by 380.5% in the 3rd quarter. Stevens Capital Management LP now owns 79,770 shares of the communications equipment provider’s stock valued at $755,000 after purchasing an additional 63,168 shares during the period. Finally, Stifel Financial Corp boosted its holdings in Viavi Solutions by 82.8% in the 3rd quarter. Stifel Financial Corp now owns 95,877 shares of the communications equipment provider’s stock valued at $906,000 after purchasing an additional 43,423 shares during the period. 91.54% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on VIAV. Loop Capital began coverage on shares of Viavi Solutions in a report on Monday, January 29th. They set a “hold” rating and a $9.50 price objective for the company. Morgan Stanley upped their price objective on shares of Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. BidaskClub raised shares of Viavi Solutions from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Stifel Nicolaus raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Friday, February 2nd. Finally, Rosenblatt Securities set a $13.00 price objective on shares of Viavi Solutions and gave the stock a “buy” rating in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Viavi Solutions presently has a consensus rating of “Hold” and a consensus target price of $11.93.
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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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