Goldman Sachs Group Inc. Reduces Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Goldman Sachs Group Inc. trimmed its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 55.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,751,842 shares of the communications equipment provider’s stock after selling 2,147,529 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Viavi Solutions were worth $17,641,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in VIAV. Norges Bank acquired a new position in shares of Viavi Solutions in the 4th quarter valued at $24,608,000. Wellington Management Group LLP grew its holdings in shares of Viavi Solutions by 9.0% during the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after purchasing an additional 1,321,599 shares during the last quarter. Westwood Holdings Group Inc. increased its position in shares of Viavi Solutions by 20.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after purchasing an additional 1,103,687 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Viavi Solutions by 399.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,044,366 shares of the communications equipment provider’s stock valued at $10,517,000 after purchasing an additional 835,248 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Viavi Solutions by 36.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock valued at $26,257,000 after purchasing an additional 768,759 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 6,822 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $7.33, for a total transaction of $50,005.26. Following the sale, the executive vice president now directly owns 42,955 shares in the company, valued at approximately $314,860.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 14,985 shares of company stock worth $109,969. 1.80% of the stock is owned by corporate insiders.

Viavi Solutions Trading Up 2.1 %

Shares of Viavi Solutions stock opened at $6.80 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -340.00 and a beta of 0.94. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.65. The company’s 50-day simple moving average is $7.55 and its 200-day simple moving average is $8.89. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $246.00 million for the quarter, compared to analyst estimates of $249.08 million. Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, equities research analysts anticipate that Viavi Solutions Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

VIAV has been the topic of several research analyst reports. Argus raised Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th. Susquehanna cut shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Friday, May 3rd. Stifel Nicolaus restated a “buy” rating and issued a $13.00 price objective on shares of Viavi Solutions in a research note on Monday, April 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, May 3rd. Finally, Morgan Stanley raised their price target on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.65.

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.