Los Angeles Capital Management LLC Buys Shares of 34,528 Viavi Solutions Inc. (NASDAQ:VIAV)

Los Angeles Capital Management LLC bought a new stake in Viavi Solutions Inc. (NASDAQ:VIAVGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,528 shares of the communications equipment provider’s stock, valued at approximately $457,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Strs Ohio lifted its stake in Viavi Solutions by 5.8% in the second quarter. Strs Ohio now owns 16,300 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 900 shares during the period. Victory Capital Management Inc. lifted its stake in Viavi Solutions by 2.2% in the second quarter. Victory Capital Management Inc. now owns 51,810 shares of the communications equipment provider’s stock valued at $685,000 after buying an additional 1,117 shares during the period. Raymond James & Associates lifted its stake in Viavi Solutions by 2.5% in the first quarter. Raymond James & Associates now owns 48,044 shares of the communications equipment provider’s stock valued at $773,000 after buying an additional 1,181 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Viavi Solutions by 37.2% during the second quarter. Nisa Investment Advisors LLC now owns 4,584 shares of the communications equipment provider’s stock worth $61,000 after purchasing an additional 1,244 shares during the period. Finally, CWM LLC raised its position in shares of Viavi Solutions by 46.2% during the first quarter. CWM LLC now owns 3,987 shares of the communications equipment provider’s stock worth $64,000 after purchasing an additional 1,260 shares during the period. Institutional investors and hedge funds own 92.83% of the company’s stock.

Viavi Solutions Stock Up 9.3 %

NASDAQ:VIAV opened at $11.09 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.52 and a current ratio of 2.85. The company has a market cap of $2.51 billion, a PE ratio of 25.79 and a beta of 0.82. Viavi Solutions Inc. has a 52-week low of $10.03 and a 52-week high of $18.14. The stock has a 50-day simple moving average of $13.64 and a 200 day simple moving average of $14.08.

Viavi Solutions (NASDAQ:VIAVGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $310.20 million for the quarter, compared to the consensus estimate of $325.65 million. Viavi Solutions had a return on equity of 24.73% and a net margin of 8.07%. On average, sell-side analysts expect that Viavi Solutions Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Susquehanna Bancshares dropped their price target on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, August 12th. Needham & Company LLC lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Morgan Stanley dropped their price target on Viavi Solutions from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Monday. Rosenblatt Securities assumed coverage on Viavi Solutions in a research report on Wednesday, October 5th. They set a “buy” rating and a $18.00 price target on the stock. Finally, Susquehanna dropped their price target on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating on the stock in a research report on Friday, August 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $16.08.

Insider Buying and Selling

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 21,027 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $13.03, for a total value of $273,981.81. Following the completion of the transaction, the senior vice president now directly owns 43,995 shares in the company, valued at $573,254.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.57% of the stock is owned by corporate insiders.

Viavi Solutions Profile

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Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.

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Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

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