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

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VIAV. Morgan Stanley raised 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. B. Riley upped their price target on Viavi Solutions from $10.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Argus raised their price objective on Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. UBS Group boosted their price objective on Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, Needham & Company LLC upgraded 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 issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $12.72.

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Viavi Solutions Price Performance

VIAV stock traded down $0.97 during midday trading on Thursday, hitting $10.44. The company's stock had a trading volume of 2,484,930 shares, compared to its average volume of 1,735,586. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $12.91. The company has a 50 day moving average of $11.40 and a two-hundred day moving average of $10.35. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -58.00 and a beta of 0.89.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, SVP James L. Veler, Jr. sold 13,807 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Masood Jabbar sold 30,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 180,333 shares in the company, valued at approximately $1,805,133.33. This 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 worth $711,422 over the last quarter. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Several large investors have recently bought and sold shares of VIAV. Geode Capital Management LLC increased its position 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 valued at $47,887,000 after purchasing an additional 54,633 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider's stock worth $144,000 after buying an additional 4,875 shares during the period. Charles Schwab Investment Management Inc. increased its position in Viavi Solutions by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock valued at $33,682,000 after acquiring an additional 139,934 shares during the last quarter. Amundi raised its stake in shares of Viavi Solutions by 185.5% in the fourth quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock valued at $1,132,000 after acquiring an additional 72,599 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after acquiring an additional 7,434 shares during the last quarter. Institutional investors own 95.54% of the company's stock.

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.