Viavi Solutions Inc. (NASDAQ:VIAV) Short Interest Update

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 5,780,000 shares, a growth of 38.9% from the January 31st total of 4,160,000 shares. Approximately 2.6% of the company's stock are short sold. Based on an average trading volume of 1,990,000 shares, the days-to-cover ratio is currently 2.9 days.

Viavi Solutions Price Performance

NASDAQ:VIAV traded down $0.48 during mid-day trading on Thursday, reaching $10.81. The stock had a trading volume of 1,777,534 shares, compared to its average volume of 2,303,971. Viavi Solutions has a 12 month low of $6.60 and a 12 month high of $12.91. The stock has a market capitalization of $2.40 billion, a PE ratio of -60.05 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The stock has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $9.94.

Analysts Set New Price Targets

A number of research analysts have recently commented on VIAV shares. Northland Securities reissued an "outperform" rating and issued a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. UBS Group lifted their target price on Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on Viavi Solutions from $9.50 to $10.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. Argus lifted their price objective on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC raised shares of Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 target price for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Viavi Solutions has an average rating of "Hold" and an average price target of $12.33.

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Insider Transactions at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the sale, the senior vice president now owns 54,517 shares of the company's stock, valued at approximately $568,612.31. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the transaction, the director now directly owns 180,333 shares of the company's stock, 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 47,125 shares of company stock valued at $490,515 in the last ninety days. 1.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors have recently modified their holdings of VIAV. Jefferies Financial Group Inc. acquired a new position in Viavi Solutions during the fourth quarter worth about $2,059,000. Mackenzie Financial Corp boosted its position in Viavi Solutions by 117.5% in the fourth quarter. Mackenzie Financial Corp now owns 59,492 shares of the communications equipment provider's stock valued at $601,000 after buying an additional 32,145 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Viavi Solutions in the fourth quarter valued at approximately $188,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Viavi Solutions by 26.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 509,746 shares of the communications equipment provider's stock worth $5,148,000 after buying an additional 107,917 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in shares of Viavi Solutions by 423.7% in the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock valued at $34,700,000 after acquiring an additional 2,779,615 shares during the last quarter. Institutional investors and hedge funds 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.