US Bancorp DE Decreases Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

US Bancorp DE lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 16.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,784 shares of the communications equipment provider’s stock after selling 3,803 shares during the period. US Bancorp DE’s holdings in Viavi Solutions were worth $178,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Viavi Solutions by 1.4% in the first quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after acquiring an additional 408,484 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in Viavi Solutions by 127.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock worth $1,862,000 after acquiring an additional 114,822 shares during the period. Federated Hermes Inc. raised its holdings in Viavi Solutions by 98,561.6% in the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock valued at $1,288,000 after acquiring an additional 187,267 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Viavi Solutions by 17.4% during the 1st quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock worth $6,826,000 after purchasing an additional 111,500 shares during the period. Finally, Capital World Investors grew its position in shares of 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 valued at $110,548,000 after purchasing an additional 9,161,535 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viavi Solutions

In related 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 value of $245,100.00. Following the transaction, the director now owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. This trade represents a 10.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Paul Mcnab sold 5,920 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $8.45, for a total transaction of $50,024.00. Following the sale, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at $291,905.25. This represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,652 shares of company stock valued at $817,585 over the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

Viavi Solutions Stock Performance

Viavi Solutions stock opened at $10.06 on Friday. The company has a market cap of $2.23 billion, a PE ratio of -59.18 and a beta of 0.90. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32. The company has a fifty day moving average price of $9.14 and a two-hundred day moving average price of $8.15. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on VIAV. Northland Securities raised their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus lowered their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Finally, B. Riley reduced their price objective on 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 research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.42.

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.