Viavi Solutions Inc. (NASDAQ:VIAV) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 39.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,446 shares of the communications equipment provider’s stock after acquiring an additional 153,745 shares during the period. JPMorgan Chase & Co. owned 0.25% of Viavi Solutions worth $4,920,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions in the 3rd quarter worth about $25,000. Quarry LP lifted its position in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 5,838 shares during the last quarter. KBC Group NV grew its stake in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 3,252 shares in the last quarter. Gilbert & Cook Inc. bought a new stake in Viavi Solutions in the third quarter valued at about $95,000. Finally, Sanctuary Advisors LLC acquired a new stake in Viavi Solutions during the second quarter valued at approximately $76,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the sale, the director now directly owns 225,333 shares in the company, valued at $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at $568,612.31. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,802 shares of company stock valued at $481,625 in the last three months. 1.52% of the stock is currently owned by corporate insiders.

Viavi Solutions Stock Up 1.8 %

Viavi Solutions stock opened at $10.22 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.49. The company has a 50-day simple moving average of $10.23 and a 200-day simple moving average of $9.03. The firm has a market capitalization of $2.27 billion, a P/E ratio of -60.11 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last posted its 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 analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. Viavi Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. Morgan Stanley reaffirmed an “underweight” rating and issued a $9.50 price objective (up previously from $8.00) on shares of Viavi Solutions in a report on Tuesday, December 17th. Northland Securities increased their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Rosenblatt Securities raised their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, UBS Group started coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.44.

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.