Fisher Asset Management LLC Cuts Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Fisher Asset Management LLC trimmed its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 935,542 shares of the communications equipment provider’s stock after selling 92,631 shares during the quarter. Fisher Asset Management LLC’s holdings in Viavi Solutions were worth $9,421,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Viavi Solutions by 1.5% during the third quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider’s stock worth $258,558,000 after acquiring an additional 424,564 shares in the last quarter. Wellington Management Group LLP lifted its stake in Viavi Solutions by 9.0% in the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after purchasing an additional 1,321,599 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Viavi Solutions by 1.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,126,549 shares of the communications equipment provider’s stock valued at $28,577,000 after buying an additional 40,000 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Viavi Solutions by 36.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock valued at $26,257,000 after buying an additional 768,759 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Viavi Solutions by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,917 shares of the communications equipment provider’s stock worth $22,310,000 after buying an additional 147,615 shares during the period. Institutional investors own 95.54% of the company’s stock.

Insider Buying and Selling

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares of the company’s stock, valued at $503,937.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’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 sale, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the transaction, the executive vice president now owns 57,940 shares of the company’s stock, valued at $615,322.80. The disclosure for this sale can be found here. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VIAV. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $13.00 target price on shares of Viavi Solutions in a report on Monday, April 1st. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Morgan Stanley raised their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Finally, Rosenblatt Securities lowered their price objective on shares of Viavi Solutions from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Viavi Solutions Stock Down 2.6 %

NASDAQ:VIAV opened at $7.37 on Tuesday. Viavi Solutions Inc. has a 12 month low of $7.10 and a 12 month high of $11.65. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $9.07 and a 200-day moving average price of $9.05.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, research analysts expect that Viavi Solutions Inc. will post 0.22 earnings per share for the current 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.