Sequoia Financial Advisors LLC Makes New Investment in Viavi Solutions Inc. (NASDAQ:VIAV)

Sequoia Financial Advisors LLC purchased a new stake in Viavi Solutions Inc. (NASDAQ:VIAV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,609 shares of the communications equipment provider’s stock, valued at approximately $105,000.

A number of other institutional investors have also recently bought and sold shares of VIAV. Vanguard Group Inc. grew its holdings in shares of Viavi Solutions by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock worth $264,959,000 after purchasing an additional 408,484 shares during the last quarter. Capital World Investors boosted its stake in Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after acquiring an additional 9,161,535 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Viavi Solutions by 9.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after buying an additional 606,522 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Viavi Solutions by 65.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after acquiring an additional 1,298,394 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Insider Activity

In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now directly owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at $507,846.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now owns 243,514 shares of the company’s stock, valued at $1,989,509.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,976 shares of company stock worth $720,562. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VIAV. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Stifel Nicolaus cut their price target 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, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $9.45 on Thursday. The firm has a market cap of $2.11 billion, a PE ratio of -472.50 and a beta of 0.91. The firm’s fifty day moving average is $8.74 and its 200-day moving average is $7.98. 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 issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. Sell-side analysts predict 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.