Richard Belluzzo Sells 8,385 Shares of Viavi Solutions Inc. (NASDAQ:VIAV) Stock

Viavi Solutions Inc. (NASDAQ:VIAV) Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the sale, the director now owns 259,081 shares of the company’s stock, valued at approximately $2,311,002.52. The trade was a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Viavi Solutions Trading Up 0.3 %

NASDAQ:VIAV opened at $9.20 on Friday. The business’s 50-day simple moving average is $10.43 and its 200-day simple moving average is $10.52. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $12.91. 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 market capitalization of $2.05 billion, a PE ratio of -51.11 and a beta of 0.92.

Analyst Ratings Changes

A number of research firms recently weighed in on VIAV. Morgan Stanley dropped their price target on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. UBS Group reduced their price target on Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities upped their price objective on Viavi Solutions from $12.00 to $13.50 and gave the company a “buy” rating in a report on Friday, May 2nd. Stifel Nicolaus restated a “buy” rating and set a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VIAV. Vanguard Group Inc. boosted its stake in Viavi Solutions by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,440,070 shares of the communications equipment provider’s stock worth $340,624,000 after purchasing an additional 540,045 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Viavi Solutions by 26.3% in the fourth quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider’s stock valued at $198,108,000 after purchasing an additional 4,085,648 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Viavi Solutions by 1.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider’s stock worth $106,297,000 after buying an additional 171,746 shares during the period. Schroder Investment Management Group grew its holdings in shares of Viavi Solutions by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider’s stock worth $70,972,000 after buying an additional 112,978 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Viavi Solutions by 10.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider’s stock valued at $64,626,000 after buying an additional 620,773 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.