ProShare Advisors LLC Reduces Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

ProShare Advisors LLC cut its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 23.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,110 shares of the communications equipment provider’s stock after selling 10,535 shares during the quarter. ProShare Advisors LLC’s holdings in Viavi Solutions were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First National Bank of Omaha increased its stake in shares of Viavi Solutions by 5.4% during the fourth quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock valued at $515,000 after buying an additional 2,633 shares during the period. Schroder Investment Management Group raised its holdings in Viavi Solutions by 15.6% in the 4th quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider’s stock worth $53,592,000 after purchasing an additional 718,004 shares in the last quarter. Westwood Holdings Group Inc. lifted its position 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 worth $66,193,000 after purchasing an additional 1,103,687 shares during the period. Wellington Management Group LLP lifted its position in shares of Viavi Solutions by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider’s stock worth $166,796,000 after purchasing an additional 638,309 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Viavi Solutions by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock valued at $289,411,000 after buying an additional 451,354 shares during the period. Institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on VIAV. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Rosenblatt Securities cut Viavi Solutions from a “buy” rating to a “neutral” rating and reduced 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 report on Friday, August 9th. B. Riley decreased their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, 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 report on Tuesday, August 6th. Five 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, Viavi Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $10.71.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now directly owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the company’s stock in a transaction dated 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 $488,604.71. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,976 shares of company stock worth $583,012 over the last quarter. Company insiders own 1.80% of the company’s stock.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $9.05 on Friday. The company has a 50 day moving average of $8.24 and a 200 day moving average of $7.99. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The firm has a market cap of $2.01 billion, a P/E ratio of -452.50 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results 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. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. The firm had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $251.83 million. As a group, research analysts expect that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

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.