Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 56.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,703 shares of the communications equipment provider’s stock after selling 54,888 shares during the period. Victory Capital Management Inc.’s holdings in Viavi Solutions were worth $421,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Viavi Solutions by 1.0% during the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after acquiring an additional 54,633 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Viavi Solutions by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after purchasing an additional 4,875 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Viavi Solutions by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider’s stock valued at $33,682,000 after purchasing an additional 139,934 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Viavi Solutions by 836.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after purchasing an additional 7,434 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Viavi Solutions by 5.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after purchasing an additional 2,277 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 9,034 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total transaction of $100,187.06. Following the completion of the sale, the executive vice president now owns 38,775 shares in the company, valued at approximately $430,014.75. The trade was a 18.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,164 shares of company stock worth $711,422. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Rosenblatt Securities upgraded shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday, March 7th. Argus lifted their price objective on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Northland Securities restated an “outperform” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. B. Riley lifted their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price target (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.72.

Viavi Solutions Stock Up 2.3 %

Shares of NASDAQ:VIAV opened at $11.62 on Friday. The company has a market capitalization of $2.58 billion, a PE ratio of -64.55 and a beta of 0.94. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $12.91. The firm has a 50 day simple moving average of $11.21 and a 200-day simple moving average of $10.16.

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.