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

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) SVP Luke M. Scrivanich sold 14,323 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.24, for a total value of $160,990.52. Following the transaction, the senior vice president now directly owns 55,877 shares in the company, valued at $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Viavi Solutions Stock Up 1.2 %

Shares of VIAV stock traded up $0.13 during trading hours on Friday, hitting $10.94. 1,873,727 shares of the company's stock traded hands, compared to its average volume of 2,294,198. The stock's fifty day simple moving average is $11.02 and its two-hundred day simple moving average is $9.98. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -60.77 and a beta of 0.94. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94.

Hedge Funds Weigh In On Viavi Solutions

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

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Analysts Set New Price Targets

Several analysts recently issued reports on VIAV shares. Needham & Company LLC raised Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 target price on the stock in a research note on Friday, January 31st. Rosenblatt Securities raised Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Friday. B. Riley raised their target price on Viavi Solutions from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. UBS Group raised their price objective on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, StockNews.com lowered shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.72.

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.