Rhumbline Advisers Has $6.91 Million Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Rhumbline Advisers reduced its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 683,795 shares of the communications equipment provider’s stock after selling 20,684 shares during the period. Rhumbline Advisers owned about 0.31% of Viavi Solutions worth $6,906,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in 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 worth $47,887,000 after buying an additional 54,633 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after acquiring an additional 217,399 shares in the last quarter. Leeward Investments LLC MA boosted its holdings in Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after acquiring an additional 249,554 shares during the last quarter. Tributary Capital Management LLC grew its stake in shares of Viavi Solutions by 14.5% in the 4th quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider’s stock worth $12,904,000 after acquiring an additional 161,532 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Viavi Solutions by 2.8% in the third quarter. Fisher Asset Management LLC now owns 1,002,957 shares of the communications equipment provider’s stock valued at $9,047,000 after purchasing an additional 27,493 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the transaction, the director now owns 180,333 shares of the company’s stock, valued at approximately $1,805,133.33. This represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VIAV. Argus boosted their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. UBS Group boosted their target price on Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley increased their price target on Viavi Solutions from $9.50 to $10.00 and gave the company an “underweight” rating in a research report on Friday, January 31st. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, January 31st. Finally, StockNews.com downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.33.

Viavi Solutions Stock Performance

Shares of VIAV opened at $11.27 on Wednesday. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The stock’s fifty day moving average price is $10.89 and its two-hundred day moving average price is $9.81. The firm has a market cap of $2.50 billion, a PE ratio of -62.61 and a beta of 0.92.

Viavi Solutions Profile

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.