PNC Financial Services Group Inc. Increases Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

PNC Financial Services Group Inc. increased its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,671 shares of the communications equipment provider’s stock after buying an additional 4,028 shares during the period. PNC Financial Services Group Inc.’s holdings in Viavi Solutions were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VIAV. Vanguard Group Inc. lifted its holdings in Viavi Solutions by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider’s stock valued at $258,558,000 after purchasing an additional 424,564 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Viavi Solutions by 12.9% in the 4th quarter. Franklin Resources Inc. now owns 2,498,711 shares of the communications equipment provider’s stock valued at $25,162,000 after purchasing an additional 285,907 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Viavi Solutions by 399.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,044,366 shares of the communications equipment provider’s stock valued at $10,517,000 after purchasing an additional 835,248 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Viavi Solutions by 102.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 346,475 shares of the communications equipment provider’s stock valued at $3,489,000 after purchasing an additional 175,695 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Viavi Solutions in the 3rd quarter valued at $673,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on VIAV. Northland Securities lifted their price target on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Susquehanna lowered Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Friday, May 3rd. Rosenblatt Securities lowered Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $8.25 in a report on Wednesday. Finally, Morgan Stanley lifted their price target on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $11.65.

Viavi Solutions Stock Down 6.2 %

Shares of NASDAQ:VIAV opened at $6.66 on Thursday. The business has a 50-day moving average price of $7.58 and a 200 day moving average price of $8.90. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -333.00 and a beta of 0.94. Viavi Solutions Inc. has a 12-month low of $6.63 and a 12-month high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (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 analyst estimates of $249.08 million. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 earnings per share. Sell-side analysts expect that Viavi Solutions Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $7.35, for a total value of $35,000.70. Following the completion of the transaction, the executive vice president now directly owns 49,777 shares of the company’s stock, valued at approximately $365,860.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 14,985 shares of company stock valued at $109,969 in the last three months. 1.80% of the stock is owned by corporate insiders.

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.