New York State Teachers Retirement System Sells 2,400 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

New York State Teachers Retirement System lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,777 shares of the communications equipment provider’s stock after selling 2,400 shares during the quarter. New York State Teachers Retirement System’s holdings in Viavi Solutions were worth $3,351,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in VIAV. Raymond James & Associates raised its holdings in Viavi Solutions by 2.5% during the 1st quarter. Raymond James & Associates now owns 48,044 shares of the communications equipment provider’s stock worth $773,000 after purchasing an additional 1,181 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Viavi Solutions by 32.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 42,279 shares of the communications equipment provider’s stock worth $680,000 after purchasing an additional 10,316 shares during the last quarter. Natixis Advisors L.P. raised its holdings in Viavi Solutions by 8.3% during the 1st quarter. Natixis Advisors L.P. now owns 115,782 shares of the communications equipment provider’s stock worth $1,862,000 after purchasing an additional 8,863 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Viavi Solutions by 46.8% during the 1st quarter. MetLife Investment Management LLC now owns 120,492 shares of the communications equipment provider’s stock worth $1,938,000 after purchasing an additional 38,396 shares during the last quarter. Finally, Ergoteles LLC bought a new position in Viavi Solutions during the 1st quarter worth approximately $1,104,000. Institutional investors own 95.54% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the sale, the senior vice president now directly owns 47,097 shares in the company, valued at approximately $503,937.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul Mcnab sold 15,004 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,093 shares of company stock valued at $319,841. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Monday, April 1st. Rosenblatt Securities lowered their price objective on shares of Viavi Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Finally, Northland Securities lifted their price objective on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Viavi Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Viavi Solutions Price Performance

VIAV opened at $8.32 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 416.00 and a beta of 0.95. The firm’s fifty day moving average price is $9.51 and its two-hundred day moving average price is $9.08. Viavi Solutions Inc. has a 1 year low of $7.26 and a 1 year high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $254.50 million for the quarter, compared to the consensus estimate of $249.77 million. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. As a group, analysts anticipate that Viavi Solutions Inc. will post 0.22 earnings per share for the current fiscal year.

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.