Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 34,299 shares of the business’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $7.31, for a total value of $250,725.69. Following the transaction, the senior vice president now directly owns 41,438 shares of the company’s stock, valued at approximately $302,911.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Viavi Solutions Inc. (NASDAQ:VIAV) opened at 7.39 on Friday. Viavi Solutions Inc. has a 1-year low of $4.68 and a 1-year high of $7.94. The company’s market capitalization is $1.72 billion. The stock has a 50 day moving average price of $7.59 and a 200 day moving average price of $6.97.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The business had revenue of $224.10 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same period in the prior year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts forecast that Viavi Solutions Inc. will post $0.35 earnings per share for the current year.
Several equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, September 20th. MKM Partners reissued a “buy” rating and set a $8.50 price objective on shares of Viavi Solutions in a research report on Monday, September 19th. William Blair reissued an “outperform” rating on shares of Viavi Solutions in a research report on Friday, September 16th. Zacks Investment Research cut Viavi Solutions from a “buy” rating to a “hold” rating in a report on Saturday, September 10th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $7.00 price target on shares of Viavi Solutions in a report on Monday, August 15th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $7.45.
Several hedge funds have recently bought and sold shares of VIAV. Nuveen Asset Management LLC bought a new stake in Viavi Solutions during the second quarter valued at $103,000. Legal & General Group Plc boosted its stake in Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares during the period. Hsbc Holdings PLC boosted its stake in Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Viavi Solutions during the second quarter valued at $121,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Viavi Solutions during the second quarter valued at $130,000. Hedge funds and other institutional investors own 87.21% of the company’s stock.
About Viavi Solutions
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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