First Eagle Investment Management LLC Sells 60,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

First Eagle Investment Management LLC decreased its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 8.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 690,937 shares of the communications equipment provider’s stock after selling 60,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.31% of Viavi Solutions worth $4,747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in Viavi Solutions in the second quarter valued at about $38,000. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions in the 2nd quarter valued at about $52,000. Headlands Technologies LLC acquired a new stake in shares of Viavi Solutions in the 1st quarter valued at approximately $55,000. Heritage Family Offices LLP bought a new position in Viavi Solutions during the 2nd quarter worth approximately $92,000. Finally, Park Avenue Securities LLC acquired a new position in Viavi Solutions during the first quarter valued at approximately $99,000. 95.54% of the stock is currently owned by institutional investors.

Insider Transactions at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the sale, the senior vice president now owns 56,617 shares of the company’s stock, valued at $488,604.71. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the transaction, the senior vice president now owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $8.20, for a total value of $123,000.00. Following the transaction, the director now owns 228,514 shares of the company’s stock, valued at approximately $1,873,814.80. The disclosure for this sale can be found here. Insiders sold a total of 67,947 shares of company stock worth $556,175 in the last three months. Insiders own 1.80% of the company’s stock.

Viavi Solutions Stock Down 1.8 %

Shares of Viavi Solutions stock opened at $8.38 on Friday. The firm has a market cap of $1.86 billion, a PE ratio of -419.00 and a beta of 0.91. The business’s 50 day simple moving average is $7.99 and its 200 day simple moving average is $8.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. The business had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. On average, analysts predict that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on VIAV shares. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. B. Riley reduced their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $8.25 in a report on Wednesday, June 26th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Finally, Stifel Nicolaus lowered their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Five investment 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

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.