Viavi Solutions (NASDAQ:VIAV) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Viavi Solutions Inc. (NASDAQ:VIAVGet Free Report)’s stock price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VIAV. Northland Securities upped their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. Finally, StockNews.com cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.44.

Read Our Latest Stock Report on Viavi Solutions

Viavi Solutions Trading Down 1.4 %

The stock has a market capitalization of $2.25 billion, a PE ratio of -59.58 and a beta of 0.91. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average is $10.21 and its two-hundred day moving average is $8.89.

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

Insider Activity

In other news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares in the company, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 32,802 shares of company stock worth $318,875 over the last 90 days. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of Viavi Solutions by 39.3% in 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 during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Viavi Solutions by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after purchasing an additional 4,875 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Viavi Solutions by 1.0% during the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock worth $47,887,000 after purchasing an additional 54,633 shares during the last quarter. Barclays PLC lifted its position in shares of Viavi Solutions by 4.4% during the third 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. Finally, MML Investors Services LLC grew its stake in Viavi Solutions by 34.3% in the third quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock worth $338,000 after purchasing an additional 9,580 shares in the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.