Charles Schwab Investment Management Inc. Has $28.82 Million Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Charles Schwab Investment Management Inc. lifted its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 7.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,194,959 shares of the communications equipment provider’s stock after buying an additional 217,399 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.44% of Viavi Solutions worth $28,819,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VIAV. Bank of New York Mellon Corp grew its holdings in Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP grew its holdings in Viavi Solutions by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after purchasing an additional 661,450 shares during the period. Westwood Holdings Group Inc. grew its holdings in Viavi Solutions by 9.2% in the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock worth $49,489,000 after purchasing an additional 606,522 shares during the period. Leeward Investments LLC MA grew its holdings in Viavi Solutions by 17.1% in the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares during the period. Finally, Federated Hermes Inc. grew its holdings 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 period. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VIAV has been the subject of a number of research reports. StockNews.com cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, November 28th. UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective on the stock. Rosenblatt Securities raised their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Northland Securities raised their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Viavi Solutions presently has an average rating of “Hold” and an average target price of $10.44.

Viavi Solutions Stock Down 2.2 %

VIAV opened at $10.39 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The company’s 50-day moving average is $9.61 and its 200 day moving average is $8.39. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The firm has a market capitalization of $2.30 billion, a P/E ratio of -61.12 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. During the same period last year, the firm earned $0.05 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Research analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions 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 sale, the senior vice president now owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. The trade was 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 dated Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 228,514 shares in the company, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,949 shares of company stock valued at $489,511. Company insiders own 1.52% of the company’s stock.

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.