Rhumbline Advisers Acquires 26,681 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Rhumbline Advisers grew its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 726,702 shares of the communications equipment provider’s stock after buying an additional 26,681 shares during the period. Rhumbline Advisers owned 0.33% of Viavi Solutions worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of VIAV. Mutual of America Capital Management LLC increased its holdings in Viavi Solutions by 423.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock valued at $1,853,000 after acquiring an additional 164,889 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Viavi Solutions by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock worth $289,411,000 after purchasing an additional 451,354 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Viavi Solutions by 127.6% in the first 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 buying an additional 114,822 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Viavi Solutions by 12.9% in the fourth quarter. Franklin Resources Inc. now owns 2,498,711 shares of the communications equipment provider’s stock worth $25,162,000 after buying an additional 285,907 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Viavi Solutions by 17.4% during the first quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock valued at $6,826,000 after buying an additional 111,500 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the sale, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now directly owns 243,514 shares in the company, valued at approximately $1,989,509.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the sale, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The disclosure for this sale can be found here. Insiders have sold 47,027 shares of company stock valued at $383,151 in the last quarter. 1.80% of the stock is owned by insiders.

Viavi Solutions Stock Performance

Shares of NASDAQ:VIAV opened at $8.38 on Monday. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -419.00 and a beta of 0.91. The firm’s 50-day moving average is $7.87 and its 200 day moving average is $8.12.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. The firm had revenue of $252.00 million for the quarter, compared to analysts’ expectations of $251.83 million. Research analysts predict that Viavi Solutions Inc. will post 0.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. 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. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $10.00 to $8.25 in a report on Wednesday, June 26th. Finally, Stifel Nicolaus lowered their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.71.

About Viavi Solutions

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.