Paul Mcnab Sells 36,690 Shares of Viavi Solutions Inc. (VIAV) Stock
Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab sold 36,690 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $7.40, for a total transaction of $271,506.00. Following the completion of the sale, the executive vice president now directly owns 27,936 shares in the company, valued at approximately $206,726.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of Viavi Solutions Inc. (NASDAQ:VIAV) opened at 7.37 on Thursday. Viavi Solutions Inc. has a 12-month low of $4.68 and a 12-month high of $7.94. The company’s market cap is $1.71 billion. The stock has a 50 day moving average of $7.57 and a 200 day moving average of $6.93.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The business earned $224.10 million during the quarter, compared to the consensus estimate of $220.39 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Viavi Solutions Inc. will post $0.35 earnings per share for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/paul-mcnab-sells-36690-shares-of-viavi-solutions-inc-viav-stock.html
A number of large investors have recently made changes to their positions in VIAV. Nuveen Asset Management LLC acquired a new stake in shares of Viavi Solutions during the second quarter valued at about $103,000. Legal & General Group Plc increased its stake in shares of 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 in the last quarter. Hsbc Holdings PLC increased its stake in shares of 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 in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Viavi Solutions during the second quarter valued at about $121,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Viavi Solutions during the second quarter valued at about $130,000. 87.21% of the stock is owned by institutional investors and hedge funds.
VIAV has been the topic of several analyst reports. Jefferies Group boosted their price target on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a report on Friday, August 12th. Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a report on Thursday, September 8th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, August 15th. MKM Partners reissued a “buy” rating and issued a $8.50 price target on shares of Viavi Solutions in a report on Monday. Finally, William Blair reissued an “outperform” rating on shares of Viavi Solutions in a report on Friday, September 16th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.45.
Viavi Solutions Company Profile
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).
Receive News & Ratings for Viavi Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.