Geode Capital Management LLC Purchases 54,633 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Geode Capital Management LLC raised its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,307,974 shares of the communications equipment provider’s stock after purchasing an additional 54,633 shares during the period. Geode Capital Management LLC owned approximately 2.39% of Viavi Solutions worth $47,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. boosted its position in Viavi Solutions by 98,561.6% in the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after purchasing an additional 187,267 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Viavi Solutions by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares during the period. Leeward Investments LLC MA grew its stake in Viavi Solutions by 17.1% in 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. Charles Schwab Investment Management Inc. raised its stake in shares of Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after purchasing an additional 217,399 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Viavi Solutions during the third quarter valued at about $105,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Trading Up 0.6 %

NASDAQ VIAV opened at $10.26 on Tuesday. The stock has a market cap of $2.28 billion, a PE ratio of -60.35 and a beta of 0.92. The company’s 50-day moving average price is $10.00 and its 200-day moving average price is $8.67. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.49. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91.

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. The firm had revenue of $238.20 million during 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 business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 EPS. Equities research analysts forecast that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

VIAV has been the subject of a number of research analyst reports. UBS Group initiated coverage on Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target for the company. Stifel Nicolaus boosted their price objective on shares of Viavi Solutions from $10.50 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Northland Securities increased their price objective on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Monday, December 16th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $9.50 target price (up from $8.00) on shares of Viavi Solutions in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.44.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now owns 57,319 shares in the company, valued at approximately $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,831 shares of company stock worth $345,712 over the last quarter. Insiders own 1.52% of the company’s stock.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.