Westwood Holdings Group Inc. Buys 606,522 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Westwood Holdings Group Inc. raised its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,203,703 shares of the communications equipment provider’s stock after buying an additional 606,522 shares during the period. Westwood Holdings Group Inc. owned about 3.23% of Viavi Solutions worth $49,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Capital World Investors grew its stake in Viavi Solutions by 305.4% in the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Viavi Solutions during the 1st quarter worth $29,526,000. Norges Bank bought a new stake in shares of Viavi Solutions in the fourth quarter valued at about $24,608,000. Bank of New York Mellon Corp lifted its stake in Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after acquiring an additional 1,298,394 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Viavi Solutions by 15.6% during the 4th quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider’s stock worth $53,592,000 after acquiring an additional 718,004 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. B. Riley lowered their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and cut their price target for the company from $10.00 to $8.25 in a report on Wednesday, June 26th. Stifel Nicolaus decreased their price objective 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. Finally, StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Five 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 company. Based on data from MarketBeat.com, Viavi Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $10.71.

Insider Activity at Viavi Solutions

In other Viavi Solutions 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 transaction of $72,768.16. Following the completion of the sale, 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. In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now owns 243,514 shares in the company, valued at approximately $1,989,509.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the transaction, the senior vice president now owns 56,617 shares of the company’s stock, valued at $488,604.71. The disclosure for this sale can be found here. Insiders have sold a total of 67,947 shares of company stock valued at $556,175 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Viavi Solutions Trading Down 1.8 %

Shares of NASDAQ:VIAV opened at $8.38 on Friday. The business’s 50-day moving average is $7.99 and its 200 day moving average is $8.10. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The firm has a market capitalization of $1.86 billion, a P/E ratio of -419.00 and a beta of 0.91.

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

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.