MML Investors Services LLC Has $338,000 Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

MML Investors Services LLC grew its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 34.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,480 shares of the communications equipment provider’s stock after purchasing an additional 9,580 shares during the period. MML Investors Services LLC’s holdings in Viavi Solutions were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Viavi Solutions in the third quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in Viavi Solutions in the second quarter worth approximately $38,000. Quarry LP increased its stake in shares of Viavi Solutions by 419.7% during the 2nd 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. Sanctuary Advisors LLC bought a new position in shares of Viavi Solutions during the 2nd quarter valued at $76,000. Finally, KBC Group NV lifted its stake in shares of Viavi Solutions by 53.0% in the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Trading Up 0.7 %

Shares of Viavi Solutions stock opened at $10.33 on Wednesday. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.49. The company’s fifty day simple moving average is $10.02 and its 200-day simple moving average is $8.69. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -60.76 and a beta of 0.92. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91.

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

Analyst Ratings Changes

Several research firms have commented on VIAV. StockNews.com downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating and issued a $9.50 price objective (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. Northland Securities upped their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Rosenblatt Securities increased their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.44.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. This trade represents a 6.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were 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 in the company, valued at approximately $568,612.31. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,831 shares of company stock valued at $345,712 in the last quarter. Corporate insiders own 1.52% of the company’s stock.

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.