Wellington Management Group LLP Acquires 638,309 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Wellington Management Group LLP boosted its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,563,670 shares of the communications equipment provider’s stock after purchasing an additional 638,309 shares during the period. Wellington Management Group LLP owned about 7.44% of Viavi Solutions worth $166,796,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. boosted its position in Viavi Solutions by 20.2% in the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares during the last quarter. Schroder Investment Management Group boosted its position in Viavi Solutions by 15.6% in the fourth quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider’s stock worth $53,592,000 after purchasing an additional 718,004 shares during the last quarter. First National Bank of Omaha boosted its position in Viavi Solutions by 5.4% in the fourth quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock worth $515,000 after purchasing an additional 2,633 shares during the last quarter. Olympiad Research LP purchased a new position in Viavi Solutions in the fourth quarter worth about $159,000. Finally, Commerce Bank boosted its position in Viavi Solutions by 11.5% in the fourth quarter. Commerce Bank now owns 42,735 shares of the communications equipment provider’s stock worth $430,000 after purchasing an additional 4,405 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Stock Up 0.7 %

NASDAQ VIAV opened at $7.53 on Thursday. The stock’s 50 day moving average is $7.70 and its 200 day moving average is $8.95. 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 $1.68 billion, a PE ratio of -376.50 and a beta of 0.94.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results 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). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $249.08 million. During the same period in the prior year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts predict that Viavi Solutions Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 6,822 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total value of $50,005.26. Following the sale, the executive vice president now owns 42,955 shares of the company’s stock, valued at approximately $314,860.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 14,985 shares of company stock valued at $109,969 in the last quarter. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VIAV has been the topic of several research reports. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley lifted their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. Rosenblatt Securities lowered their price objective on Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Northland Securities lifted their price objective on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and an average target price of $12.00.

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.