Viavi Solutions Inc. (NASDAQ:VIAV) Shares Bought by Tributary Capital Management LLC

Tributary Capital Management LLC lifted its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 0.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,281,988 shares of the communications equipment provider’s stock after buying an additional 5,505 shares during the quarter. Tributary Capital Management LLC owned approximately 0.58% of Viavi Solutions worth $11,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Park Avenue Securities LLC acquired a new stake in shares of Viavi Solutions during the 1st quarter worth approximately $99,000. Versor Investments LP purchased a new stake in shares of Viavi Solutions during the fourth quarter worth about $110,000. Quadrant Capital Group LLC grew its stake in shares of Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock valued at $121,000 after buying an additional 3,952 shares in the last quarter. Heritage Wealth Management LLC acquired a new stake in shares of Viavi Solutions during the fourth quarter worth about $150,000. Finally, Sequoia Financial Advisors LLC increased its stake in Viavi Solutions by 17.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 2,368 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VIAV shares. Stifel Nicolaus restated a “buy” rating and set a $13.00 target price on shares of Viavi Solutions in a research note on Monday, April 1st. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley upped their price objective on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, May 3rd. Finally, Susquehanna downgraded shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Viavi Solutions currently has an average rating of “Moderate Buy” and an average price target of $11.65.

Insider Buying and Selling

In related news, EVP Paul Mcnab sold 6,822 shares of Viavi Solutions stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total value of $50,005.26. Following the transaction, the executive vice president now owns 42,955 shares in the company, valued at $314,860.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 14,985 shares of company stock valued at $109,969. Insiders own 1.80% of the company’s stock.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $7.00 on Tuesday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -348.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.81 and a quick ratio of 3.35. The business’s 50 day simple moving average is $7.51 and its 200-day simple moving average is $8.85. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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 analysts forecast that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

About Viavi Solutions

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.