Gary W. Staley Sells 6,804 Shares of Viavi Solutions Inc. (NASDAQ:VIAV) Stock

Posted by Defense World Staff on Sep 3rd, 2023

Viavi Solutions Inc. (NASDAQ:VIAV – Get Free Report) SVP Gary W. Staley sold 6,804 shares of Viavi Solutions stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $10.50, for a total value of $71,442.00. Following the sale, the senior vice president now directly owns 93,898 shares of the company’s stock, valued at approximately $985,929. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Viavi Solutions Stock Up 0.5 %

Shares of NASDAQ:VIAV opened at $10.50 on Friday. Viavi Solutions Inc. has a 1 year low of $8.52 and a 1 year high of $15.32. The company has a market cap of $2.33 billion, a PE ratio of 95.45 and a beta of 0.84. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.75 and a quick ratio of 2.41. The stock’s 50-day moving average is $10.81 and its 200 day moving average is $10.32.

Viavi Solutions (NASDAQ:VIAV – Get Free Report) last announced its quarterly earnings results on Thursday, August 10th. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Viavi Solutions had a return on equity of 10.92% and a net margin of 2.31%. The company had revenue of $263.60 million for the quarter, compared to the consensus estimate of $252.43 million. Sell-side analysts anticipate that Viavi Solutions Inc. will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Stifel Nicolaus lifted their price objective on Viavi Solutions from $11.00 to $12.00 in a report on Friday, August 11th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $14.00 price objective on shares of Viavi Solutions in a report on Thursday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.29.

Get Our Latest Stock Analysis on Viavi Solutions

Institutional Trading of Viavi Solutions

Several large investors have recently bought and sold shares of VIAV. Raymond James & Associates boosted its position in Viavi Solutions by 2.5% during the 1st quarter. Raymond James & Associates now owns 48,044 shares of the communications equipment provider’s stock valued at $773,000 after acquiring an additional 1,181 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Viavi Solutions by 32.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 42,279 shares of the communications equipment provider’s stock valued at $680,000 after acquiring an additional 10,316 shares in the last quarter. Natixis Advisors L.P. boosted its position in Viavi Solutions by 8.3% during the 1st quarter. Natixis Advisors L.P. now owns 115,782 shares of the communications equipment provider’s stock valued at $1,862,000 after acquiring an additional 8,863 shares in the last quarter. MetLife Investment Management LLC boosted its position in Viavi Solutions by 46.8% during the 1st quarter. MetLife Investment Management LLC now owns 120,492 shares of the communications equipment provider’s stock valued at $1,938,000 after acquiring an additional 38,396 shares in the last quarter. Finally, Ergoteles LLC bought a new stake in Viavi Solutions during the 1st quarter valued at approximately $1,104,000. 94.65% of the stock is owned by institutional investors.

Viavi Solutions Company Profile

(Get Free Report)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.