Rhumbline Advisers decreased its position in Viavi Solutions Inc (NASDAQ:VIAV) by 1.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 570,520 shares of the communications equipment provider’s stock after selling 5,829 shares during the period. Rhumbline Advisers owned about 0.25% of Viavi Solutions worth $6,470,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of VIAV. Raymond James & Associates acquired a new stake in shares of Viavi Solutions during the second quarter valued at $109,000. Main Street Research LLC acquired a new stake in shares of Viavi Solutions during the third quarter valued at $121,000. SG Americas Securities LLC boosted its stake in shares of Viavi Solutions by 17.4% during the second quarter. SG Americas Securities LLC now owns 37,173 shares of the communications equipment provider’s stock valued at $381,000 after acquiring an additional 5,505 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Viavi Solutions during the second quarter worth about $490,000. Finally, Trexquant Investment LP lifted its position in Viavi Solutions by 57.3% during the second quarter. Trexquant Investment LP now owns 50,548 shares of the communications equipment provider’s stock worth $518,000 after buying an additional 18,404 shares during the period. 89.79% of the stock is currently owned by institutional investors and hedge funds.
Viavi Solutions stock opened at $10.21 on Wednesday. The stock has a market capitalization of $2.32 billion, a PE ratio of 30.03 and a beta of 0.88. The company has a current ratio of 2.39, a quick ratio of 2.18 and a debt-to-equity ratio of 0.79. Viavi Solutions Inc has a 12 month low of $8.49 and a 12 month high of $12.82.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Viavi Solutions had a positive return on equity of 12.72% and a negative net margin of 5.92%. The business had revenue of $268.50 million during the quarter, compared to analyst estimates of $268.73 million. During the same quarter last year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities analysts forecast that Viavi Solutions Inc will post 0.49 earnings per share for the current fiscal year.
In other news, EVP Paul Mcnab sold 14,046 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $11.25, for a total value of $158,017.50. Following the completion of the sale, the executive vice president now owns 110,456 shares in the company, valued at $1,242,630. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Keith Barnes sold 11,074 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $9.73, for a total value of $107,750.02. Following the completion of the sale, the director now owns 98,471 shares of the company’s stock, valued at approximately $958,122.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,253 shares of company stock valued at $1,472,556. Insiders own 0.50% of the company’s stock.
Several research firms recently weighed in on VIAV. B. Riley increased their target price on Viavi Solutions from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.50 target price on the stock in a research report on Monday, August 13th. Stifel Nicolaus began coverage on Viavi Solutions in a research report on Monday, October 22nd. They set a “buy” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Viavi Solutions from $11.00 to $12.00 and gave the stock a “sell” rating in a research report on Friday, November 2nd. Finally, ValuEngine downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $11.99.
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Viavi Solutions Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
Further Reading: Earnings Reports
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