Credit Suisse AG Grows Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Credit Suisse AG boosted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 325,730 shares of the communications equipment provider’s stock after acquiring an additional 7,220 shares during the quarter. Credit Suisse AG owned about 0.15% of Viavi Solutions worth $3,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in Viavi Solutions in the first quarter valued at about $99,000. Great Lakes Advisors LLC grew its position in Viavi Solutions by 44.2% during the first quarter. Great Lakes Advisors LLC now owns 1,021,475 shares of the communications equipment provider’s stock worth $11,063,000 after buying an additional 313,139 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Viavi Solutions by 748.9% during the first quarter. Tower Research Capital LLC TRC now owns 9,448 shares of the communications equipment provider’s stock worth $102,000 after purchasing an additional 8,335 shares during the period. GW&K Investment Management LLC raised its position in Viavi Solutions by 3.8% in the 1st quarter. GW&K Investment Management LLC now owns 3,442,078 shares of the communications equipment provider’s stock worth $37,277,000 after purchasing an additional 125,965 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Viavi Solutions by 6.0% in the 1st quarter. Russell Investments Group Ltd. now owns 731,692 shares of the communications equipment provider’s stock valued at $7,924,000 after buying an additional 41,329 shares during the period. 94.65% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Stock Down 0.7 %

Shares of NASDAQ:VIAV opened at $10.45 on Friday. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 95.01 and a beta of 0.85. The company has a current ratio of 2.75, a quick ratio of 2.41 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $10.81 and a 200 day moving average price of $10.32. Viavi Solutions Inc. has a 12-month low of $8.52 and a 12-month high of $15.32.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, August 10th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $263.60 million during the quarter, compared to the consensus estimate of $252.43 million. Viavi Solutions had a return on equity of 10.92% and a net margin of 2.31%. Sell-side analysts expect that Viavi Solutions Inc. will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VIAV. Stifel Nicolaus upped their target price on shares of Viavi Solutions from $11.00 to $12.00 in a report on Friday, August 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $14.00 target price on shares of Viavi Solutions in a research note on Thursday. Finally, StockNews.com lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Viavi Solutions presently has an average rating of “Hold” and a consensus target price of $12.29.

About Viavi Solutions

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