Viavi Solutions Inc. (NASDAQ:VIAV) Short Interest Down 22.4% in January

Viavi Solutions Inc. (NASDAQ:VIAV) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 4,160,000 shares, a decrease of 22.4% from the January 15th total of 5,360,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average daily volume of 1,950,000 shares, the short-interest ratio is currently 2.1 days.

Insider Buying and Selling

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were 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 of the company’s stock, valued at $568,612.31. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the transaction, the director now owns 180,333 shares of the company’s stock, valued at approximately $1,805,133.33. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in Viavi Solutions by 26.3% in the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider’s stock valued at $198,108,000 after buying an additional 4,085,648 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Viavi Solutions in the 4th quarter valued at about $16,722,000. Arrowstreet Capital Limited Partnership bought a new position in Viavi Solutions during the 4th quarter worth approximately $15,268,000. Bank of New York Mellon Corp lifted its holdings in Viavi Solutions by 14.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock valued at $35,106,000 after buying an additional 435,265 shares during the period. Finally, Leeward Investments LLC MA boosted its position in shares of Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after purchasing an additional 249,554 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VIAV has been the topic of a number of research reports. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. UBS Group boosted their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a “neutral” rating in a research note on Friday, January 31st. Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. B. Riley upped their target price on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Northland Securities reissued an “outperform” rating and set a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Viavi Solutions has an average rating of “Moderate Buy” and an average price target of $12.33.

Viavi Solutions Stock Down 0.6 %

Shares of NASDAQ VIAV opened at $12.23 on Friday. The stock has a 50 day moving average price of $10.71 and a 200 day moving average price of $9.55. Viavi Solutions has a 52 week low of $6.60 and a 52 week high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.