Viavi Solutions (NASDAQ:VIAV) Shares Gap Down – Time to Sell?

Viavi Solutions Inc. (NASDAQ:VIAV)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $11.16, but opened at $10.64. Viavi Solutions shares last traded at $10.66, with a volume of 160,843 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on VIAV shares. Rosenblatt Securities increased their target price on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Monday. Northland Securities raised their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $9.50 target price (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Trading Down 3.5 %

The business’s 50-day moving average is $9.91 and its two-hundred day moving average is $8.59. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.25 billion, a PE ratio of -59.70 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. On average, analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now owns 213,514 shares in the company, valued at $1,957,923.38. This trade represents a 6.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the transaction, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. This represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,831 shares of company stock worth $345,712. Insiders own 1.52% of the company’s stock.

Institutional Trading of Viavi Solutions

Several institutional investors and hedge funds have recently bought and sold shares of VIAV. SG Americas Securities LLC raised its stake in shares of Viavi Solutions by 306.7% during the 2nd quarter. SG Americas Securities LLC now owns 54,567 shares of the communications equipment provider’s stock worth $375,000 after purchasing an additional 41,149 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares in the last quarter. Bank of New York Mellon Corp increased its position in Viavi Solutions by 65.2% during the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after acquiring an additional 1,298,394 shares during the period. Summit Securities Group LLC acquired a new position in Viavi Solutions during the 2nd quarter valued at $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viavi Solutions by 20.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,718 shares of the communications equipment provider’s stock worth $376,000 after purchasing an additional 9,380 shares during the last quarter. 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.