Viavi Solutions Inc. (NASDAQ:VIAV) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 31.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 164,974 shares of the communications equipment provider’s stock after purchasing an additional 39,076 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of Viavi Solutions worth $1,133,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter worth $38,000. Headlands Technologies LLC acquired a new position in Viavi Solutions in the first quarter worth about $55,000. Summit Securities Group LLC acquired a new position in Viavi Solutions in the second quarter worth about $52,000. Park Avenue Securities LLC acquired a new position in Viavi Solutions in the first quarter worth about $99,000. Finally, Quadrant Capital Group LLC boosted its stake in Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 3,952 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Trading Down 1.8 %

Shares of NASDAQ VIAV opened at $8.38 on Friday. The company’s fifty day moving average is $7.99 and its 200-day moving average is $8.10. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -419.00 and a beta of 0.91. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. The company had revenue of $252.00 million for the quarter, compared to analyst estimates of $251.83 million. Equities research analysts predict that Viavi Solutions Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Viavi Solutions

In related news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now directly owns 243,514 shares in the company, valued at approximately $1,989,509.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Viavi Solutions news, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction 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 directly owns 34,545 shares of the company’s stock, valued at $291,905.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the transaction, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The disclosure for this sale can be found here. Insiders sold 67,947 shares of company stock valued at $556,175 in the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. B. Riley cut their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report 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 restated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Stifel Nicolaus reduced their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.71.

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.