Principal Financial Group Inc. Reduces Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Principal Financial Group Inc. trimmed its position in Viavi Solutions Inc. (NASDAQ:VIAVGet Rating) by 8.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,429,350 shares of the communications equipment provider’s stock after selling 127,935 shares during the quarter. Principal Financial Group Inc. owned about 0.63% of Viavi Solutions worth $18,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Viavi Solutions by 37.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,584 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 1,244 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Viavi Solutions in the 1st quarter valued at $65,000. US Bancorp DE raised its stake in shares of Viavi Solutions by 36.6% in the second quarter. US Bancorp DE now owns 6,686 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 1,793 shares during the period. Xponance Inc. raised its position in shares of Viavi Solutions by 11.3% in the 2nd quarter. Xponance Inc. now owns 13,804 shares of the communications equipment provider’s stock worth $182,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in Viavi Solutions during the first quarter valued at $188,000. Hedge funds and other institutional investors own 92.83% of the company’s stock.

Viavi Solutions Price Performance

Shares of VIAV stock opened at $11.15 on Tuesday. Viavi Solutions Inc. has a fifty-two week low of $10.03 and a fifty-two week high of $18.14. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 25.93 and a beta of 0.82. 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 stock’s 50-day simple moving average is $13.23 and its 200-day simple moving average is $13.89.

Viavi Solutions (NASDAQ:VIAVGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The communications equipment provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Viavi Solutions had a return on equity of 24.73% and a net margin of 8.07%. The business had revenue of $310.20 million for the quarter, compared to analysts’ expectations of $325.65 million. As a group, equities analysts forecast that Viavi Solutions Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Transactions at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 21,027 shares of Viavi Solutions stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $13.03, for a total transaction of $273,981.81. Following the completion of the sale, the senior vice president now owns 43,995 shares of the company’s stock, valued at $573,254.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.57% of the company’s stock.

Analyst Upgrades and Downgrades

VIAV has been the subject of a number of analyst reports. StockNews.com downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 12th. B. Riley downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $21.00 to $14.50 in a research report on Friday, November 4th. Rosenblatt Securities initiated coverage on Viavi Solutions in a research report on Wednesday, October 5th. They issued a “buy” rating and a $18.00 price target for the company. Morgan Stanley lowered their price target on Viavi Solutions from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, November 7th. Finally, Susquehanna lowered their price target on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating for the company in a research report on Friday, August 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.08.

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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