Kovack Advisors Inc. Sells 39,600 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Kovack Advisors Inc. decreased its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 28.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,000 shares of the communications equipment provider’s stock after selling 39,600 shares during the quarter. Kovack Advisors Inc.’s holdings in Viavi Solutions were worth $900,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Park Avenue Securities LLC purchased a new stake in Viavi Solutions in the 1st quarter worth approximately $99,000. Versor Investments LP bought a new position in shares of Viavi Solutions in the fourth quarter worth approximately $110,000. Quadrant Capital Group LLC increased its stake in shares of 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 worth $121,000 after purchasing an additional 3,952 shares in the last quarter. Heritage Wealth Management LLC bought a new stake in shares of Viavi Solutions during the 4th quarter valued at $150,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Viavi Solutions by 17.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 2,368 shares during the period. Institutional investors own 95.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Argus raised Viavi Solutions to a “strong-buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target on shares of Viavi Solutions in a report on Monday, April 1st. Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $8.25 in a report on Wednesday, June 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Viavi Solutions has an average rating of “Moderate Buy” and a consensus target price of $11.65.

Viavi Solutions Stock Up 1.3 %

NASDAQ VIAV opened at $7.07 on Friday. The stock has a 50 day moving average price of $7.45 and a 200-day moving average price of $8.81. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.35 and a current ratio of 3.81. The company has a market capitalization of $1.58 billion, a P/E ratio of -353.50 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The business had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same quarter last year, the business earned $0.02 EPS. Viavi Solutions’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts predict that Viavi Solutions Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

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 stock was sold at an average price of $7.33, for a total value of $50,005.26. Following the completion of the sale, the executive vice president now directly owns 42,955 shares of the company’s stock, valued at approximately $314,860.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 14,985 shares of company stock worth $109,969. Corporate insiders own 1.80% of the company’s stock.

About Viavi Solutions

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.