Natixis Advisors LLC Reduces Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Natixis Advisors LLC lowered its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 26.9% during the second quarter, HoldingsChannel reports. The fund owned 50,530 shares of the communications equipment provider’s stock after selling 18,630 shares during the period. Natixis Advisors LLC’s holdings in Viavi Solutions were worth $347,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in VIAV. Capital World Investors boosted its position in shares of Viavi Solutions by 305.4% in the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock valued at $110,548,000 after purchasing an additional 9,161,535 shares during the period. Capital Research Global Investors acquired a new stake in Viavi Solutions during the 1st quarter worth approximately $29,526,000. Norges Bank acquired a new stake in Viavi Solutions during the 4th quarter worth approximately $24,608,000. Bank of New York Mellon Corp lifted its position in Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after acquiring an additional 1,298,394 shares during the period. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Viavi Solutions by 20.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock valued at $66,193,000 after buying an additional 1,103,687 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Trading Down 0.1 %

NASDAQ:VIAV opened at $8.38 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -419.00 and a beta of 0.91. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.32. The business’s 50-day simple moving average is $7.85 and its 200 day simple moving average is $8.15.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $252.00 million during the quarter, compared to analyst estimates of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. As a group, sell-side analysts predict that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Viavi Solutions

In other news, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the completion of the sale, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the sale, the senior vice president now owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,027 shares of company stock worth $383,151. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on VIAV shares. Stifel Nicolaus reduced their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Finally, StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.71.

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.