Short Interest in Viavi Solutions Inc (VIAV) Decreases By 18.7%

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Viavi Solutions Inc (NASDAQ:VIAV) was the target of a significant decrease in short interest in the month of September. As of September 28th, there was short interest totalling 8,373,433 shares, a decrease of 18.7% from the September 14th total of 10,295,706 shares. Based on an average daily volume of 1,902,864 shares, the days-to-cover ratio is currently 4.4 days. Currently, 3.7% of the shares of the stock are short sold.

Shares of NASDAQ:VIAV opened at $11.65 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.05 and a quick ratio of 1.89. Viavi Solutions has a fifty-two week low of $8.34 and a fifty-two week high of $12.82. The firm has a market cap of $2.57 billion, a P/E ratio of 34.26 and a beta of 0.88.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Tuesday, August 14th. The communications equipment provider reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.03. Viavi Solutions had a negative net margin of 5.22% and a positive return on equity of 11.57%. The firm had revenue of $264.00 million during the quarter, compared to analyst estimates of $255.10 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. Viavi Solutions’s revenue for the quarter was up 33.3% on a year-over-year basis. Research analysts anticipate that Viavi Solutions will post 0.44 earnings per share for the current year.

A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 4th. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Deutsche Bank upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Monday, October 1st. B. Riley upped their price target on shares of Viavi Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Finally, Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.50 price target for the company in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $11.29.

In other Viavi Solutions news, EVP Paul Mcnab sold 57,668 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $12.56, for a total value of $724,310.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gary W. Staley sold 4,927 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $12.55, for a total transaction of $61,833.85. Following the completion of the transaction, the senior vice president now owns 10,111 shares of the company’s stock, valued at $126,893.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,495 shares of company stock valued at $1,417,459. Company insiders own 0.59% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Metropolitan Life Insurance Co. NY boosted its position in shares of Viavi Solutions by 7.2% during the second quarter. Metropolitan Life Insurance Co. NY now owns 73,365 shares of the communications equipment provider’s stock worth $751,000 after acquiring an additional 4,958 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Viavi Solutions by 17.4% during the second quarter. SG Americas Securities LLC now owns 37,173 shares of the communications equipment provider’s stock worth $381,000 after acquiring an additional 5,505 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Viavi Solutions by 0.3% during the second quarter. Macquarie Group Ltd. now owns 2,786,563 shares of the communications equipment provider’s stock worth $28,534,000 after acquiring an additional 7,114 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Viavi Solutions by 1.5% during the second quarter. Rhumbline Advisers now owns 576,349 shares of the communications equipment provider’s stock worth $5,902,000 after acquiring an additional 8,722 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in shares of Viavi Solutions by 26.0% during the first quarter. Profund Advisors LLC now owns 47,223 shares of the communications equipment provider’s stock worth $459,000 after acquiring an additional 9,735 shares during the last quarter. Hedge funds and other institutional investors own 91.01% 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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