Viavi Solutions Inc. (NASDAQ:VIAV) Short Interest Down 16.3% in March

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,990,000 shares, a drop of 16.3% from the February 28th total of 5,960,000 shares. Based on an average daily trading volume, of 2,140,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.3% of the company's shares are short sold.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. B. Riley lifted their price target on Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Northland Securities reaffirmed an "outperform" rating and issued a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Morgan Stanley boosted their price objective on shares of Viavi Solutions from $9.50 to $10.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Rosenblatt Securities raised shares of Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a research report on Friday, March 7th. Finally, Needham & Company LLC raised shares of 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.72.

Viavi Solutions Stock Down 5.6 %

Shares of NASDAQ VIAV traded down $0.58 during trading on Friday, reaching $9.86. The company had a trading volume of 3,205,125 shares, compared to its average volume of 1,743,146. The business's 50-day moving average is $11.39 and its 200 day moving average is $10.36. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. The stock has a market cap of $2.19 billion, a PE ratio of -54.77 and a beta of 0.89. Viavi Solutions has a 12-month low of $6.60 and a 12-month high of $12.91.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the sale, the executive vice president now owns 38,775 shares in the company, valued at approximately $430,014.75. This trade represents a 18.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the sale, the director now owns 180,333 shares in the company, valued at $1,805,133.33. This trade represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,164 shares of company stock valued at $711,422 in the last quarter. 1.52% of the stock is currently owned by company insiders.

Institutional Trading of Viavi Solutions

Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in Viavi Solutions by 26.3% in the fourth quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock worth $198,108,000 after purchasing an additional 4,085,648 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Viavi Solutions by 1.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider's stock worth $106,297,000 after buying an additional 171,746 shares during the last quarter. Schroder Investment Management Group grew its position in Viavi Solutions by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock valued at $70,972,000 after buying an additional 112,978 shares during the period. Dimensional Fund Advisors LP raised its position in Viavi Solutions by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock worth $64,626,000 after acquiring an additional 620,773 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider's stock worth $47,887,000 after acquiring an additional 54,633 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

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.