Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 34.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 418,114 shares of the communications equipment provider’s stock after selling 221,364 shares during the period. Squarepoint Ops LLC’s holdings in Viavi Solutions were worth $2,872,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mutual of America Capital Management LLC grew its holdings in Viavi Solutions by 423.6% during the first quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock worth $1,853,000 after acquiring an additional 164,889 shares during the period. Vanguard Group Inc. increased its stake in Viavi Solutions by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock worth $289,411,000 after purchasing an additional 451,354 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Viavi Solutions by 127.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock worth $1,862,000 after purchasing an additional 114,822 shares in the last quarter. Federated Hermes Inc. increased its stake in Viavi Solutions by 98,561.6% in the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after purchasing an additional 187,267 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Viavi Solutions by 17.4% in the 1st quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock worth $6,826,000 after purchasing an additional 111,500 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares in the company, valued at approximately $488,604.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the sale, the senior vice president now directly owns 57,319 shares in the company, valued at approximately $507,846.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the sale, the senior vice president now owns 56,617 shares of the company’s stock, valued at $488,604.71. The disclosure for this sale can be found here. Insiders sold a total of 70,976 shares of company stock worth $583,012 in the last three months. 1.80% of the stock is owned by insiders.

Viavi Solutions Trading Up 1.1 %

NASDAQ:VIAV opened at $9.06 on Thursday. 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 Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The stock’s 50-day moving average is $8.15 and its two-hundred day moving average is $7.98. The stock has a market cap of $2.02 billion, a PE ratio of -453.00 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The business 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, equities research analysts forecast that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VIAV. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Rosenblatt Securities cut 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 note on Wednesday, June 26th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Stifel Nicolaus dropped their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

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.