Victory Capital Management Inc. Sells 13,984 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Victory Capital Management Inc. cut its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 12.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,591 shares of the communications equipment provider’s stock after selling 13,984 shares during the period. Victory Capital Management Inc.’s holdings in Viavi Solutions were worth $871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Viavi Solutions by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after acquiring an additional 408,484 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Viavi Solutions by 9.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after purchasing an additional 606,522 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Viavi Solutions by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after purchasing an additional 661,450 shares during the last quarter. Bank of New York Mellon Corp raised its position in Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. Finally, Leeward Investments LLC MA raised its position in Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the sale, the executive vice president now directly owns 34,545 shares in the company, valued at $291,905.25. This trade represents a 14.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares of the company’s stock, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,949 shares of company stock worth $489,511 in the last three months. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

VIAV has been the subject of several analyst reports. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lowered their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Rosenblatt Securities raised their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Northland Securities increased their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.44.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $9.88 on Thursday. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $8.28. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The company has a market cap of $2.19 billion, a P/E ratio of -59.94 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.05 EPS. As a group, analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Viavi Solutions Company 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.