Ralph Rondinone Sells 1,442 Shares of Viavi Solutions Inc (VIAV) Stock

Viavi Solutions Inc (NASDAQ:VIAV) SVP Ralph Rondinone sold 1,442 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $11.30, for a total transaction of $16,294.60. Following the sale, the senior vice president now owns 24,695 shares of the company’s stock, valued at $279,053.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of VIAV stock traded down $0.05 during trading hours on Monday, reaching $11.42. The company had a trading volume of 1,535,000 shares, compared to its average volume of 2,204,616. Viavi Solutions Inc has a one year low of $8.34 and a one year high of $11.55. The firm has a market capitalization of $2.60 billion, a PE ratio of 33.82, a P/E/G ratio of 1.24 and a beta of 0.98. The company has a quick ratio of 1.43, a current ratio of 1.58 and a debt-to-equity ratio of 0.48.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Tuesday, August 14th. The communications equipment provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Viavi Solutions had a negative net margin of 5.22% and a positive return on equity of 11.42%. The firm had revenue of $264.00 million during the quarter, compared to analyst estimates of $255.10 million. During the same period in the previous year, the business posted $0.12 earnings per share. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. analysts anticipate that Viavi Solutions Inc will post 0.46 earnings per share for the current year.

A number of brokerages have recently commented on VIAV. Argus upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.92 price target for the company in a research note on Tuesday, May 8th. B. Riley lifted their price target on shares of Viavi Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.50 price target for the company in a research note on Monday, August 13th. JPMorgan Chase & Co. began coverage on shares of Viavi Solutions in a research note on Thursday, May 3rd. They issued an “underweight” rating and a $10.00 price target for the company. Finally, William Blair reiterated a “buy” rating on shares of Viavi Solutions in a research note on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $11.29.

A number of hedge funds and other institutional investors have recently made changes to their positions in VIAV. Rhumbline Advisers grew its position in Viavi Solutions by 1.1% during the first quarter. Rhumbline Advisers now owns 567,627 shares of the communications equipment provider’s stock valued at $5,517,000 after buying an additional 5,926 shares during the period. Victory Capital Management Inc. grew its position in Viavi Solutions by 12,493.8% during the first quarter. Victory Capital Management Inc. now owns 2,176,085 shares of the communications equipment provider’s stock valued at $21,152,000 after buying an additional 2,158,806 shares during the period. Swiss National Bank grew its position in Viavi Solutions by 3.7% during the first quarter. Swiss National Bank now owns 396,000 shares of the communications equipment provider’s stock valued at $3,849,000 after buying an additional 14,100 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Viavi Solutions during the first quarter valued at approximately $252,000. Finally, Zweig DiMenna Associates LLC bought a new stake in Viavi Solutions during the first quarter valued at approximately $4,568,000. Institutional investors own 91.18% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, and enterprises and their ecosystems worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments. The Network Enablement segment offers testing solutions that access the network to perform build-out and maintenance tasks.

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