Viavi Solutions Inc (NASDAQ:VIAV) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 12,400,000 shares, a decrease of 6.1% from the November 14th total of 13,200,000 shares. Based on an average trading volume of 1,977,500 shares, the short-interest ratio is currently 6.3 days. Currently, 5.4% of the shares of the stock are short sold.
Shares of Viavi Solutions stock traded up $0.29 during trading hours on Tuesday, hitting $15.27. The company’s stock had a trading volume of 2,005,156 shares, compared to its average volume of 1,606,539. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 29.37 and a beta of 1.04. Viavi Solutions has a twelve month low of $9.90 and a twelve month high of $16.35. The firm has a fifty day moving average of $15.06 and a 200-day moving average of $14.55. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.88 and a current ratio of 3.24.
Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Wednesday, October 30th. The communications equipment provider reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. Viavi Solutions had a net margin of 2.37% and a return on equity of 17.53%. The company had revenue of $299.80 million during the quarter, compared to analyst estimates of $287.31 million. During the same quarter last year, the firm posted $0.15 earnings per share. Viavi Solutions’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Viavi Solutions will post 0.56 earnings per share for the current fiscal year.
VIAV has been the subject of a number of analyst reports. Zacks Investment Research upgraded Viavi Solutions from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research report on Monday, September 16th. Susquehanna Bancshares started coverage on Viavi Solutions in a research note on Friday, October 18th. They set a “positive” rating and a $19.00 price objective on the stock. Needham & Company LLC set a $16.00 target price on Viavi Solutions and gave the stock a “buy” rating in a research note on Friday, September 13th. TheStreet cut shares of Viavi Solutions from a “b” rating to a “c+” rating in a research report on Wednesday, October 30th. Finally, Northland Securities restated a “buy” rating and set a $18.00 price objective on shares of Viavi Solutions in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Viavi Solutions has a consensus rating of “Hold” and a consensus price target of $15.89.
In other Viavi Solutions news, SVP Ralph Rondinone sold 2,651 shares of Viavi Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $14.75, for a total transaction of $39,102.25. Also, Director Timothy Campos sold 11,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $14.74, for a total transaction of $169,510.00. Following the sale, the director now directly owns 101,122 shares of the company’s stock, valued at approximately $1,490,538.28. The disclosure for this sale can be found here. Insiders have sold 208,501 shares of company stock valued at $3,287,983 over the last 90 days. 0.88% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the business. First Trust Advisors LP lifted its position in shares of Viavi Solutions by 41.0% during the 1st quarter. First Trust Advisors LP now owns 355,406 shares of the communications equipment provider’s stock worth $4,400,000 after purchasing an additional 103,260 shares during the last quarter. Strs Ohio lifted its holdings in Viavi Solutions by 34.8% during the 2nd quarter. Strs Ohio now owns 22,100 shares of the communications equipment provider’s stock worth $293,000 after buying an additional 5,700 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Viavi Solutions during the 2nd quarter worth about $511,000. Advisory Services Network LLC boosted its position in shares of Viavi Solutions by 88.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,354 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 1,105 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Viavi Solutions by 12.0% in the 2nd quarter. Stephens Inc. AR now owns 53,850 shares of the communications equipment provider’s stock valued at $716,000 after acquiring an additional 5,750 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.
Viavi Solutions Company Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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