Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich Sells 14,323 Shares

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke M. Scrivanich sold 14,323 shares of Viavi Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value of $160,990.52. Following the completion of the transaction, the senior vice president now directly owns 55,877 shares of the company’s stock, valued at approximately $628,057.48. This represents a 20.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Viavi Solutions Stock Performance

VIAV opened at $11.29 on Thursday. The company’s 50 day moving average is $10.97 and its 200 day moving average is $9.93. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -62.72 and a beta of 0.92. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91.

Analysts Set New Price Targets

Several research analysts have issued reports on VIAV shares. Morgan Stanley lifted their target price on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Argus upped their price objective on Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. StockNews.com lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. B. Riley increased their price objective on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus restated a “buy” rating and set a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.33.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions in the third quarter valued at $25,000. Picton Mahoney Asset Management boosted its stake in Viavi Solutions by 35.0% in the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 833 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Viavi Solutions by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 6,171 shares during the period. Venturi Wealth Management LLC acquired a new position in Viavi Solutions in the fourth quarter valued at approximately $75,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after acquiring an additional 7,434 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

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.