New York State Common Retirement Fund Grows Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

New York State Common Retirement Fund increased its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 59.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 251,525 shares of the communications equipment provider’s stock after buying an additional 93,563 shares during the quarter. New York State Common Retirement Fund’s holdings in Viavi Solutions were worth $2,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised its holdings in Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock worth $109,000 after buying an additional 1,411 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Viavi Solutions by 17.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 2,368 shares in the last quarter. Federated Hermes Inc. purchased a new position in Viavi Solutions in the 4th quarter worth approximately $169,000. SG Americas Securities LLC bought a new position in Viavi Solutions in the 4th quarter valued at approximately $169,000. Finally, QRG Capital Management Inc. purchased a new stake in Viavi Solutions during the 3rd quarter valued at $168,000. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Up 1.0 %

Shares of VIAV stock opened at $7.44 on Wednesday. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90. Viavi Solutions Inc. has a 12 month low of $7.10 and a 12 month high of $11.65. The stock has a market cap of $1.66 billion, a P/E ratio of -371.75 and a beta of 0.97. The company has a 50 day simple moving average of $9.03 and a two-hundred day simple moving average of $9.05.

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

Insiders Place Their Bets

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the sale, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the sale, the senior vice president now 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 link. 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 transaction, 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. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, May 3rd. Morgan Stanley upped their target price 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. Northland Securities lifted their price target on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Susquehanna cut shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Friday, May 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $13.00 target price on shares of Viavi Solutions in a research note on Monday, April 1st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Viavi Solutions 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.