Viavi Solutions Inc. (NASDAQ:VIAV) Position Lessened by Capital World Investors

Capital World Investors lowered its position in Viavi Solutions Inc. (NASDAQ:VIAVFree Report) by 56.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000,000 shares of the communications equipment provider’s stock after selling 3,830,000 shares during the quarter. Capital World Investors owned approximately 1.35% of Viavi Solutions worth $30,210,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in Viavi Solutions by 20.9% in the third quarter. Victory Capital Management Inc. now owns 112,341 shares of the communications equipment provider’s stock worth $1,027,000 after buying an additional 19,456 shares during the last quarter. Jump Financial LLC bought a new position in shares of Viavi Solutions during the 3rd quarter valued at $349,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Viavi Solutions by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,440,917 shares of the communications equipment provider’s stock valued at $22,310,000 after purchasing an additional 147,615 shares during the last quarter. Pathstone Family Office LLC bought a new stake in Viavi Solutions in the third quarter worth $183,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Viavi Solutions during the third quarter worth $584,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Stock Down 1.7 %

VIAV opened at $7.40 on Friday. The stock’s 50 day simple moving average is $7.95 and its 200-day simple moving average is $8.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.35 and a current ratio of 3.81. Viavi Solutions Inc. has a 1 year low of $7.10 and a 1 year high of $11.65.

Viavi Solutions (NASDAQ:VIAVGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. Viavi Solutions’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. On average, analysts expect that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Susquehanna downgraded Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Friday, May 3rd. Rosenblatt Securities dropped their price target on shares of Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Stifel Nicolaus reissued a “buy” rating and set a $13.00 target price on shares of Viavi Solutions in a research report on Monday, April 1st. Finally, Morgan Stanley raised their price target on Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Read Our Latest Report on VIAV

Insider Buying and Selling

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s 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 sale, the senior vice president now 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 SEC, which is available through this link. In other Viavi Solutions 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 in the company, valued at $503,937.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The disclosure for this sale can be found here. Insiders sold 43,956 shares of company stock worth $418,759 in the last 90 days. 1.80% of the stock is owned by company insiders.

Viavi Solutions Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.