Viavi Solutions (NASDAQ:VIAV) EVP Paul Mcnab Sells 13,806 Shares of Stock

Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul McNab sold 13,806 shares of the firm’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $32.12, for a total transaction of $443,448.72. Following the completion of the sale, the executive vice president owned 46,026 shares in the company, valued at $1,478,355.12. This represents a 23.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Paul Mcnab also recently made the following trade(s):

• On Friday, September 11th, Paul McNab sold 11,032 shares of Viavi Solutions stock. The stock was sold at an average price of $38.97, for a total transaction of $429,917.04.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV traded down $1.82 during trading on Friday, hitting $30.72. 5,109,325 shares of the company were exchanged, compared to its average volume of 6,828,286. The business’s 50 day moving average is $36.34 and its 200-day moving average is $38.94. The company has a market capitalization of $7.55 billion, a P/E ratio of 128.01, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31. The company has a quick ratio of 1.40, a current ratio of 1.65 and a debt-to-equity ratio of 0.30. Viavi Solutions Inc. has a 1-year low of $15.51 and a 1-year high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Wednesday, November 4th. The communications equipment provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Viavi Solutions had a return on equity of 25.36% and a net margin of 3.97%. The company had revenue of $469.30 million during the quarter, compared to analysts’ expectations of $455.06 million. During the same period in the prior year, the company earned $0.15 EPS. Viavi Solutions’s revenue was up 56.9% compared to the same quarter last year. Equities analysts forecast that Viavi Solutions Inc. will post 1.84 earnings per share for the current year.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in VIAV. BlackRock Inc. acquired a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $1,228,529,000. Assenagon Asset Management S.A. grew its holdings in Viavi Solutions by 1,402.9% in the third quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider’s stock worth $236,418,000 after purchasing an additional 5,264,496 shares during the period. Granahan Investment Management LLC acquired a new stake in shares of Viavi Solutions in the 1st quarter valued at about $3,187,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Viavi Solutions in the 1st quarter valued at about $3,048,000. Finally, Ma Investment Partnership LP increased its position in Viavi Solutions by 150.0% in the 1st quarter. Ma Investment Partnership LP now owns 500,000 shares of the communications equipment provider’s stock valued at $16,640,000 after buying an additional 300,000 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings upgraded shares of Viavi Solutions from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, November 9th. B. Riley Financial cut their target price on shares of Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Needham & Company LLC cut their target price on shares of Viavi Solutions from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 5th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $70.00 target price on shares of Viavi Solutions in a report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

Viavi Solutions News Roundup

These are some of the VIAV news items that stood out recently:

• Positive Sentiment: Viavi was upgraded to Zacks Rank #1 (Strong Buy), reflecting improving earnings expectations. Viavi Solutions upgraded to Strong Buy
• Neutral Sentiment: Viavi joined a UK project to integrate 5G into Blackpool’s transportation network. The project may showcase its technology, though the report provides no financial details on its potential impact. Blackpool 5G transportation project
• Negative Sentiment: Despite strong reported growth, Viavi’s shares had fallen 11.6% over the past month, and coverage flags valuation and execution risks as potential constraints on the stock. Growth and valuation risks

Viavi Solutions Company Profile

Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.