Raymond James & Associates Sells 15,175 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Raymond James & Associates trimmed its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 19.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 63,329 shares of the communications equipment provider’s stock after selling 15,175 shares during the period. Raymond James & Associates’ holdings in Viavi Solutions were worth $718,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in VIAV. UMB Bank n.a. purchased a new position in shares of Viavi Solutions during the second quarter valued at approximately $29,000. Lazard Asset Management LLC raised its holdings in Viavi Solutions by 2,189.8% in the 4th quarter. Lazard Asset Management LLC now owns 3,137 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Ellevest Inc. raised its holdings in Viavi Solutions by 135.8% in the 1st quarter. Ellevest Inc. now owns 4,490 shares of the communications equipment provider’s stock worth $49,000 after acquiring an additional 2,586 shares during the last quarter. CWM LLC raised its holdings in Viavi Solutions by 30.2% in the 1st quarter. CWM LLC now owns 5,281 shares of the communications equipment provider’s stock worth $57,000 after acquiring an additional 1,225 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in Viavi Solutions in the 1st quarter worth approximately $99,000. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VIAV shares. TheStreet lowered shares of Viavi Solutions from a “c” rating to a “d+” rating in a report on Thursday. Morgan Stanley cut their target price on shares of Viavi Solutions from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday. Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $11.00 to $12.00 in a research report on Friday, August 11th. StockNews.com downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Rosenblatt Securities cut their target price on shares of Viavi Solutions from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions presently has a consensus rating of “Hold” and a consensus price target of $11.14.

Insider Buying and Selling

In related news, SVP Luke M. Scrivanich sold 15,396 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $9.08, for a total value of $139,795.68. Following the completion of the transaction, the senior vice president now owns 45,664 shares of the company’s stock, valued at approximately $414,629.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Luke M. Scrivanich sold 15,396 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $9.08, for a total value of $139,795.68. Following the completion of the transaction, the senior vice president now owns 45,664 shares of the company’s stock, valued at approximately $414,629.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Mcnab sold 5,403 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $10.18, for a total transaction of $55,002.54. Following the completion of the sale, the executive vice president now owns 73,109 shares in the company, valued at approximately $744,249.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,603 shares of company stock valued at $266,240. Company insiders own 1.80% of the company’s stock.

Viavi Solutions Trading Down 0.1 %

Shares of VIAV stock opened at $8.30 on Tuesday. Viavi Solutions Inc. has a 1 year low of $7.26 and a 1 year high of $12.19. The firm has a fifty day moving average price of $8.83 and a 200-day moving average price of $9.74. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.75 and a quick ratio of 2.41. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 830.83 and a beta of 0.93.

Viavi Solutions (NASDAQ:VIAV) last issued its 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 company had revenue of $263.60 million during the quarter, compared to the consensus estimate of $252.43 million. Viavi Solutions had a net margin of 2.31% and a return on equity of 10.92%. As a group, equities analysts predict that Viavi Solutions Inc. will post 0.4 earnings per share for the current year.

Viavi Solutions Company Profile

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.