Stock Traders Purchase High Volume of Put Options on Viavi Solutions (VIAV)

Viavi Solutions Inc (NASDAQ:VIAV) was the target of unusually large options trading on Tuesday. Stock investors purchased 2,474 put options on the company. This is an increase of approximately 1,655% compared to the average daily volume of 141 put options.

In other news, SVP Luke M. Scrivanich sold 3,920 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $8.97, for a total value of $35,162.40. Following the completion of the sale, the senior vice president now owns 27,629 shares of the company’s stock, valued at $247,832.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Belluzzo sold 10,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $9.00, for a total value of $90,000.00. Following the completion of the sale, the director now directly owns 195,651 shares of the company’s stock, valued at approximately $1,760,859. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,674 shares of company stock valued at $711,795. Insiders own 0.59% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its stake in shares of Viavi Solutions by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 18,336 shares of the communications equipment provider’s stock worth $193,000 after purchasing an additional 371 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Viavi Solutions by 7.8% in the second quarter. Legal & General Group Plc now owns 434,542 shares of the communications equipment provider’s stock worth $4,577,000 after purchasing an additional 31,547 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Viavi Solutions by 140.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 56,497 shares of the communications equipment provider’s stock worth $595,000 after purchasing an additional 32,972 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Viavi Solutions in the third quarter worth approximately $384,000. Finally, Fisher Asset Management LLC raised its stake in shares of Viavi Solutions by 63.8% in the third quarter. Fisher Asset Management LLC now owns 757,640 shares of the communications equipment provider’s stock worth $7,167,000 after purchasing an additional 295,185 shares during the last quarter. Institutional investors and hedge funds own 92.40% of the company’s stock.

Several equities research analysts have recently weighed in on VIAV shares. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Thursday, October 12th. Zacks Investment Research lowered Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Stifel Nicolaus restated a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, October 24th. Finally, Rosenblatt Securities set a $13.00 target price on Viavi Solutions and gave the company a “buy” rating in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. Viavi Solutions presently has an average rating of “Hold” and a consensus price target of $12.50.

Viavi Solutions (VIAV) opened at $8.87 on Friday. The stock has a market capitalization of $2,010.00, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.89. The company has a quick ratio of 2.10, a current ratio of 2.20 and a debt-to-equity ratio of 0.47. Viavi Solutions has a fifty-two week low of $8.13 and a fifty-two week high of $11.89.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The business had revenue of $195.20 million for the quarter, compared to analyst estimates of $183.89 million. Viavi Solutions had a negative return on equity of 2.48% and a negative net margin of 2.46%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. equities analysts expect that Viavi Solutions will post 0.31 EPS for the current year.

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About Viavi Solutions

Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.

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