Viavi Solutions Inc. (NASDAQ:VIAV) Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,575 shares of the communications equipment provider’s stock after selling 12,071 shares during the period. Victory Capital Management Inc.’s holdings in Viavi Solutions were worth $760,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of VIAV. Capital World Investors lifted its position in shares of Viavi Solutions by 305.4% during 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 during the last quarter. Capital Research Global Investors bought a new position in shares of Viavi Solutions during the first quarter worth about $29,526,000. Norges Bank bought a new position in shares of Viavi Solutions during the fourth quarter worth about $24,608,000. Bank of New York Mellon Corp lifted its position in shares of Viavi Solutions by 65.2% during 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 purchasing an additional 1,298,394 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Viavi Solutions by 20.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares during the last quarter. Institutional investors own 95.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 8,432 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the transaction, the senior vice president now owns 56,617 shares in the company, valued at $488,604.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now owns 228,514 shares in the company, valued at $1,873,814.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 67,947 shares of company stock worth $556,175 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $8.38 on Friday. The firm’s 50 day moving average is $7.99 and its two-hundred day moving average is $8.08. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.32. The firm has a market capitalization of $1.87 billion, a P/E ratio of -419.00 and a beta of 0.91. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, beating the consensus estimate 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 company had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. Analysts anticipate that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

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.