The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Viavi Solutions Inc. shares valued at $150,269 were sold by Staley Gary W on Feb 22. At $11.02 per share, Staley Gary W sold 13,636 shares. The insider’s holdings dropped to 80,027 shares worth approximately $0.77 million following the completion of this transaction.
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Also, Staley Gary W sold 13,453 shares, netting a total of over 150,135 in proceeds. Following the sale of shares at $11.16 each, the insider now holds 93,663 shares.
Before that, Staley Gary W had sold 13,216 shares from its account. In a trade valued at $149,473, the SVP Global Sales NSE traded Viavi Solutions Inc. shares for $11.31 each. Upon closing the transaction, the insider’s holdings decreased to 13,216 shares, worth approximately $1.03 million.
Analyzing VIAV Stock Performance
On Thursday, Viavi Solutions Inc. [NASDAQ: VIAV] rose 1.69% to $9.65. The stock’s lowest price that day was $9.48, but it reached a high of $9.69 in the same session. During the last five days, there has been a surge of approximately 0.21%. Over the course of the year, Viavi Solutions Inc. shares have dropped approximately -8.18%. Shares of the company reached a 52-week high of $12.19 on 02/03/23 and a 52-week low of $8.52 on 05/03/23. A 50-day SMA is recorded $9.71, while a 200-day SMA reached $11.62. Nevertheless, trading volume fell to 1.17 million shares from 1.17 million shares the previous day.
Support And Resistance Levels for Viavi Solutions Inc. (VIAV)
According to the 24-hour chart, there is a support level at 9.52, which, if violated, would cause prices to drop to 9.40. In the upper region, resistance lies at 9.73. The next price resistance is at 9.82. RSI (Relative Strength Index) is 55.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.22, which suggests the price will decrease in the coming days. Percent R is at 23.38%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Viavi Solutions Inc. subject to short interest?
Stocks of Viavi Solutions Inc. saw a sharp steep in short interest on Apr 27, 2023 dropping by -0.68 million shares to 4.81 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 5.49 million shares. A decline of -14.14% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) decline to 2.62.
Which companies own the most shares of Viavi Solutions Inc. (VIAV)?
According to BlackRock Fund Advisors filings, the company currently owns 33,516,841 shares, which is about 14.91% of the total VIAV shares outstanding. The investor’s shares have plunged by -845,015 from its previous 13-F filing of 34361856.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $235,807,022. Wellington Management Co. LLP acquire a 12.78% interest valued at $138.12 million while Goldman Sachs Asset Management LP sold a -40,256 stake. A total of 228,496 shares of Viavi Solutions Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 0 by Capital Research & Management Co. In its current portfolio, Westwood Management Corp. holds 6,528,980 shares valued at $58.5 million.
In terms of Viavi Solutions Inc. share price expectations, FactSet research, analysts set an average price target of $11.67 in the next 12 months, up nearly 21.18% from the previous closing price of $9.49. Analysts anticipate Viavi Solutions Inc. stock to reach $13.00 by 2023, with the lowest price target being $10.00. In spite of this, 8 analysts ranked Viavi Solutions Inc. stock as an Overweight at the end of 2023.