Evergreen Capital Management LLC Invests $96,000 in Viavi Solutions Inc. (NASDAQ:VIAV)

Evergreen Capital Management LLC acquired a new stake in Viavi Solutions Inc. (NASDAQ:VIAV) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,907 shares of the communications equipment provider’s stock, valued at approximately $96,000.

Several other institutional investors have also added to or reduced their stakes in the business. Capital World Investors raised its position in shares of Viavi Solutions by 305.4% in the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock valued at $110,548,000 after purchasing an additional 9,161,535 shares during the period. Capital Research Global Investors purchased a new stake in shares of Viavi Solutions during the first quarter worth $29,526,000. Norges Bank bought a new position in shares of Viavi Solutions in the fourth quarter worth $24,608,000. Bank of New York Mellon Corp grew its position in shares of Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after purchasing an additional 1,298,394 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in shares of Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock valued at $66,193,000 after purchasing an additional 1,103,687 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on VIAV. B. Riley cut their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Stifel Nicolaus reduced their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $8.25 in a research note on Wednesday, June 26th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the transaction, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at $267,945.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the completion of the sale, the director now owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the transaction, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. The disclosure for this sale can be found here. Insiders sold a total of 70,976 shares of company stock valued at $583,012 over the last quarter. 1.80% of the stock is owned by corporate insiders.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $9.03 on Friday. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.32. The company has a fifty day moving average of $8.10 and a 200-day moving average of $8.01. The company has a market capitalization of $2.02 billion, a P/E ratio of -451.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. As a group, equities research analysts predict that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

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.