Vanguard Group Inc. Boosts Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Vanguard Group Inc. increased its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,739,930 shares of the communications equipment provider’s stock after buying an additional 451,354 shares during the period. Vanguard Group Inc. owned 12.91% of Viavi Solutions worth $289,411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new stake in shares of Viavi Solutions during the 4th quarter worth about $110,000. Quadrant Capital Group LLC grew its holdings in Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock valued at $121,000 after purchasing an additional 3,952 shares during the period. Heritage Wealth Management LLC acquired a new stake in Viavi Solutions in the fourth quarter valued at approximately $150,000. Sequoia Financial Advisors LLC increased its position in shares of Viavi Solutions by 17.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 2,368 shares in the last quarter. Finally, Olympiad Research LP acquired a new position in shares of Viavi Solutions during the 4th quarter worth approximately $159,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Price Performance

VIAV stock opened at $6.87 on Friday. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.65. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.81 and a quick ratio of 3.35. The firm has a market capitalization of $1.53 billion, a PE ratio of -343.50 and a beta of 0.94. The business has a 50 day simple moving average of $7.53 and a 200-day simple moving average of $8.88.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results 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 company had revenue of $246.00 million during 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 was down .7% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. Equities research analysts anticipate that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VIAV. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, May 3rd. Susquehanna cut shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Friday, May 3rd. Morgan Stanley lifted their price objective on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Northland Securities boosted their price objective on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Argus upgraded Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.65.

Insiders Place Their Bets

In other news, EVP Paul Mcnab sold 6,822 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $7.33, for a total transaction of $50,005.26. Following the completion of the sale, the executive vice president now owns 42,955 shares in the company, valued at approximately $314,860.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 14,985 shares of company stock valued at $109,969 over the last ninety days. Company insiders own 1.80% of the company’s stock.

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.