Principal Financial Group Inc. Sells 54,831 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Principal Financial Group Inc. lessened its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 5.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,046,054 shares of the communications equipment provider’s stock after selling 54,831 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Viavi Solutions worth $9,435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Leeward Investments LLC MA lifted its stake in shares of Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after buying an additional 249,554 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Viavi Solutions by 29.2% during the third quarter. QRG Capital Management Inc. now owns 23,959 shares of the communications equipment provider’s stock worth $216,000 after acquiring an additional 5,420 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Viavi Solutions by 181.1% in the third quarter. Pinnacle Associates Ltd. now owns 30,196 shares of the communications equipment provider’s stock worth $272,000 after acquiring an additional 19,455 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of Viavi Solutions in the third quarter worth $105,000. Finally, nVerses Capital LLC grew its position in shares of Viavi Solutions by 24.0% in the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Analyst Ratings Changes

VIAV has been the subject of several analyst reports. Rosenblatt Securities raised their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus reduced their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, B. Riley lowered their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Five investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.42.

Viavi Solutions Trading Down 0.7 %

NASDAQ VIAV opened at $9.80 on Tuesday. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The stock’s 50-day simple moving average is $9.21 and its two-hundred day simple moving average is $8.17. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -57.64 and a beta of 0.90.

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

Insider Activity

In other news, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the transaction, the executive vice president now owns 34,545 shares in the company, valued at approximately $291,905.25. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction on Thursday, September 26th. The stock was 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 in the company, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,652 shares of company stock valued at $817,585. Corporate insiders own 1.52% of the company’s stock.

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.