First Eagle Investment Management LLC Sells 60,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

First Eagle Investment Management LLC lowered its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 8.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 690,937 shares of the communications equipment provider’s stock after selling 60,000 shares during the period. First Eagle Investment Management LLC’s holdings in Viavi Solutions were worth $4,747,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in shares of Viavi Solutions by 11.3% in the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 1,756 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after buying an additional 2,100 shares in the last quarter. First National Bank of Omaha increased its position in Viavi Solutions by 5.4% during the 4th quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock worth $515,000 after buying an additional 2,633 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of Viavi Solutions by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after buying an additional 2,754 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Viavi Solutions by 15.6% during the first quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 2,883 shares in the last quarter. 95.54% of the stock is owned by institutional investors.

Insider Transactions at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the sale, the senior vice president now directly owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 8,432 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $488,604.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now owns 228,514 shares of the company’s stock, valued at $1,873,814.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,947 shares of company stock valued at $556,175. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on VIAV. Stifel Nicolaus lowered their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. B. Riley lowered their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Finally, Rosenblatt Securities cut Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $8.25 in a report on Wednesday, June 26th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.71.

Viavi Solutions Stock Down 1.8 %

NASDAQ VIAV opened at $8.38 on Friday. The business has a fifty day moving average price of $7.99 and a two-hundred day moving average price of $8.10. The stock has a market capitalization of $1.86 billion, a PE ratio of -419.00 and a beta of 0.91. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16.

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, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. Equities analysts expect that Viavi Solutions Inc. will post 0.17 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.