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

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

Viavi Solutions Price Performance

Shares of VIAV opened at $9.20 on Friday. The firm has a market capitalization of $2.05 billion, a PE ratio of -51.11 and a beta of 0.92. 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 company’s 50-day moving average is $10.43 and its 200-day 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.

Analyst Ratings Changes

Several brokerages recently commented on VIAV. UBS Group reduced their price target on Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 target price (up from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. StockNews.com raised shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Argus lifted their price objective on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley dropped their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.69.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently bought and sold shares of VIAV. Barclays PLC lifted its holdings in Viavi Solutions by 4.4% during the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock worth $4,856,000 after purchasing an additional 22,893 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Viavi Solutions by 39.3% during the third quarter. JPMorgan Chase & Co. now owns 545,446 shares of the communications equipment provider’s stock worth $4,920,000 after buying an additional 153,745 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Viavi Solutions by 5.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after acquiring an additional 2,277 shares during the period. Moody National Bank Trust Division bought a new position in Viavi Solutions during the fourth quarter worth about $651,000. Finally, Park Avenue Securities LLC raised its stake in Viavi Solutions by 15.4% in the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after purchasing an additional 1,792 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

About Viavi Solutions

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.