Viavi Solutions Inc. (NASDAQ:VIAV) Stake Increased by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 836.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,323 shares of the communications equipment provider’s stock after buying an additional 7,434 shares during the period. Smartleaf Asset Management LLC’s holdings in Viavi Solutions were worth $84,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in VIAV. Bank of New York Mellon Corp increased its stake in shares of Viavi Solutions by 14.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock worth $35,106,000 after buying an additional 435,265 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Viavi Solutions by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after buying an additional 217,399 shares during the last quarter. Dean Investment Associates LLC increased its stake in shares of Viavi Solutions by 189.6% in the third quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider’s stock worth $2,528,000 after buying an additional 183,481 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of Viavi Solutions by 100.2% in the third quarter. Edgestream Partners L.P. now owns 330,313 shares of the communications equipment provider’s stock worth $2,979,000 after buying an additional 165,339 shares during the last quarter. Finally, Tributary Capital Management LLC increased its stake in shares of Viavi Solutions by 14.5% in the fourth quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider’s stock worth $12,904,000 after buying an additional 161,532 shares during the last quarter. Institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a report on Friday, January 31st. Northland Securities reaffirmed an “outperform” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. Morgan Stanley lifted their price objective on shares of Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Finally, Needham & Company LLC raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $12.72.

Insider Activity

In related news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares of the company’s stock, valued at $1,805,133.33. This represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was 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 of the company’s stock, valued at $568,612.31. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,159 shares of company stock valued at $590,702. 1.52% of the stock is currently owned by company insiders.

Viavi Solutions Stock Performance

Shares of VIAV opened at $10.94 on Friday. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $12.91. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -60.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The firm has a fifty day moving average of $11.02 and a 200-day moving average of $9.98.

Viavi Solutions Company 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.