Goldman Sachs Group Inc. Sells 2,147,529 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Goldman Sachs Group Inc. trimmed its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 55.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,751,842 shares of the communications equipment provider’s stock after selling 2,147,529 shares during the period. Goldman Sachs Group Inc. owned about 0.79% of Viavi Solutions worth $17,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VIAV. PNC Financial Services Group Inc. increased its position in shares of Viavi Solutions by 3.7% during the third quarter. PNC Financial Services Group Inc. now owns 56,643 shares of the communications equipment provider’s stock valued at $518,000 after acquiring an additional 2,047 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Viavi Solutions by 7.4% during the 4th quarter. Handelsbanken Fonder AB now owns 33,210 shares of the communications equipment provider’s stock worth $334,000 after purchasing an additional 2,300 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Viavi Solutions by 17.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 2,368 shares during the last quarter. First National Bank of Omaha grew its position in Viavi Solutions by 5.4% during the fourth quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock valued at $515,000 after buying an additional 2,633 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Viavi Solutions by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 115,138 shares of the communications equipment provider’s stock worth $1,159,000 after buying an additional 2,797 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VIAV. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Rosenblatt Securities cut Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $8.25 in a research report on Wednesday. Argus raised Viavi Solutions to a “strong-buy” rating in a report on Thursday, May 9th. Morgan Stanley upped their price objective on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.65.

Viavi Solutions Stock Up 2.1 %

VIAV stock opened at $6.80 on Friday. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.65. The firm has a market capitalization of $1.52 billion, a PE ratio of -340.00 and a beta of 0.94. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $7.55 and a two-hundred day simple moving average of $8.89.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share 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 firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same period last year, the company posted $0.02 EPS. The business’s revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Viavi Solutions Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 6,822 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total transaction of $50,005.26. Following the sale, the executive vice president now owns 42,955 shares in the company, valued at $314,860.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 14,985 shares of company stock valued at $109,969. Insiders own 1.80% of the company’s stock.

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.