Viavi Solutions (NASDAQ:VIAV) Stock Price Crosses Below 50 Day Moving Average - Here's Why

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.21 and traded as low as $10.05. Viavi Solutions shares last traded at $10.13, with a volume of 1,122,669 shares traded.

Analyst Ratings Changes

VIAV has been the subject of several research analyst reports. UBS Group began coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a "neutral" rating and a $10.60 price target for the company. Rosenblatt Securities increased their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a report on Friday, November 1st. Northland Securities raised their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their price objective on Viavi Solutions from $10.50 to $12.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Viavi Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Viavi Solutions has a consensus rating of "Hold" and an average target price of $10.44.

Viavi Solutions Stock Down 1.4 %

The stock's fifty day moving average price is $10.21 and its 200-day moving average price is $8.89. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -59.58 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company's revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. On average, sell-side analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares of the company's stock, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the transaction, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. The trade was a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,802 shares of company stock worth $318,875 over 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 hedge funds and other institutional investors have recently added to or reduced their stakes in VIAV. Rhumbline Advisers boosted its stake in Viavi Solutions by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 726,702 shares of the communications equipment provider's stock valued at $4,992,000 after purchasing an additional 26,681 shares during the period. Headlands Technologies LLC boosted its position in shares of Viavi Solutions by 339.3% in the second quarter. Headlands Technologies LLC now owns 26,391 shares of the communications equipment provider's stock valued at $181,000 after acquiring an additional 20,383 shares during the period. Federated Hermes Inc. grew its stake in shares of Viavi Solutions by 98,561.6% in the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider's stock valued at $1,288,000 after acquiring an additional 187,267 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider's stock worth $39,972,000 after acquiring an additional 661,450 shares during the period. Finally, Edgestream Partners L.P. raised its stake in Viavi Solutions by 31.0% in the 2nd quarter. Edgestream Partners L.P. now owns 164,974 shares of the communications equipment provider's stock worth $1,133,000 after purchasing an additional 39,076 shares in the last quarter. 95.54% of the stock is owned by 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.