Insider Selling: Viavi Solutions Inc. (VIAV) EVP Sells 35,535 Shares of Stock
Viavi Solutions Inc. (NASDAQ:VIAV) EVP Paul Mcnab sold 35,535 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $7.41, for a total transaction of $263,314.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Paul Mcnab also recently made the following trade(s):
- On Friday, September 30th, Paul Mcnab sold 15,202 shares of Viavi Solutions stock. The stock was sold at an average price of $7.40, for a total transaction of $112,494.80.
- On Monday, September 19th, Paul Mcnab sold 36,690 shares of Viavi Solutions stock. The stock was sold at an average price of $7.40, for a total transaction of $271,506.00.
Viavi Solutions Inc. (NASDAQ:VIAV) opened at 7.25 on Friday. The company has a 50 day moving average of $7.56 and a 200-day moving average of $6.99. The firm’s market cap is $1.68 billion. Viavi Solutions Inc. has a one year low of $4.68 and a one year high of $7.94.
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Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 EPS for the quarter, topping the 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 analyst estimates of $220.39 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Viavi Solutions Inc. will post $0.35 earnings per share for the current year.
VIAV has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, August 17th. MKM Partners reiterated a “buy” rating and set a $8.50 price target on shares of Viavi Solutions in a research report on Monday, September 19th. Morgan Stanley reiterated a “hold” rating and set a $6.00 price target on shares of Viavi Solutions in a research report on Friday, August 12th. Jefferies Group lifted their price target on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Monday, August 15th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.45.
Several large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC purchased a new position in Viavi Solutions during the second quarter worth about $103,000. Legal & General Group Plc raised its position in Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock worth $107,000 after buying an additional 6,749 shares during the period. Hsbc Holdings PLC raised its position in Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock worth $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Viavi Solutions during the second quarter worth about $121,000. Finally, Tower Research Capital LLC TRC raised its position in Viavi Solutions by 152.0% in the second quarter. Tower Research Capital LLC TRC now owns 19,559 shares of the company’s stock worth $130,000 after buying an additional 11,799 shares during the period. Institutional investors and hedge funds 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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