Viavi Solutions (NASDAQ:VIAV) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Viavi Solutions Inc. (NASDAQ:VIAV) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.21 and traded as low as $10.05. Viavi Solutions shares last traded at $10.13, with a volume of 1,122,669 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on VIAV shares. Morgan Stanley reiterated an “underweight” rating and set a $9.50 target price (up previously from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Monday, December 16th. Stifel Nicolaus lifted their target price on Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 16th. UBS Group began coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target for the company. Finally, Rosenblatt Securities increased their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Viavi Solutions presently has a consensus rating of “Hold” and an average target price of $10.44.

Viavi Solutions Price Performance

The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -59.58 and a beta of 0.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The business has a fifty day moving average price of $10.21 and a 200 day moving average price of $8.89.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 earnings per share. On average, research analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the transaction, the senior vice president now owns 54,517 shares in the company, valued at approximately $568,612.31. The trade was a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the sale, the director now owns 225,333 shares of the company’s stock, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,802 shares of company stock worth $318,875 over the last 90 days. 1.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viavi Solutions

A number of institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Viavi Solutions in the third quarter worth about $25,000. Quarry LP boosted its stake in Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the period. KBC Group NV raised its stake in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the period. Gilbert & Cook Inc. purchased a new stake in shares of Viavi Solutions in the third quarter valued at $95,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Viavi Solutions in the second quarter worth $76,000. Hedge funds and other institutional investors 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.