Envestnet Asset Management Inc. Boosts Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Envestnet Asset Management Inc. lifted its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 744.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,987 shares of the communications equipment provider’s stock after purchasing an additional 338,527 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Viavi Solutions worth $4,351,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. purchased a new stake in shares of Viavi Solutions in the 2nd quarter worth $29,000. Lazard Asset Management LLC boosted 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 buying an additional 3,000 shares during the period. Ellevest Inc. boosted 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 buying an additional 2,586 shares during the period. CWM LLC boosted 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 buying an additional 1,225 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Viavi Solutions by 352.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 7,086 shares of the communications equipment provider’s stock worth $80,000 after buying an additional 5,519 shares during the period. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Stock Performance

Shares of NASDAQ:VIAV opened at $8.07 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.58 and a current ratio of 2.95. The firm’s 50 day simple moving average is $8.39 and its 200-day simple moving average is $9.67. Viavi Solutions Inc. has a one year low of $7.26 and a one year high of $12.19. The firm has a market cap of $1.79 billion, a PE ratio of 807.81 and a beta of 0.93.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Gary W. Staley sold 6,804 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $10.50, for a total value of $71,442.00. Following the completion of the sale, the senior vice president now directly owns 93,898 shares in the company, valued at $985,929. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Viavi Solutions news, SVP Gary W. Staley sold 6,804 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $10.50, for a total value of $71,442.00. Following the completion of the sale, the senior vice president now directly owns 93,898 shares in the company, valued at $985,929. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul Mcnab sold 5,403 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were 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 of the company’s stock, valued at $744,249.62. The disclosure for this sale can be found here. Insiders sold a total of 27,603 shares of company stock worth $266,240 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on VIAV shares. TheStreet downgraded shares of Viavi Solutions from a “c” rating to a “d+” rating in a report on Thursday, November 2nd. Stifel Nicolaus increased their price objective on shares of Viavi Solutions from $11.00 to $12.00 in a report on Friday, August 11th. Morgan Stanley dropped their price objective on shares of Viavi Solutions from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. StockNews.com downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, Rosenblatt Securities lowered their price target on shares of Viavi Solutions from $14.00 to $10.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.14.

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.