Viavi Solutions Inc. (NASDAQ:VIAV) Stake Reduced by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,408,290 shares of the communications equipment provider’s stock after selling 76,269 shares during the quarter. Clearbridge Investments LLC’s holdings in Viavi Solutions were worth $16,545,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of VIAV. Sequoia Financial Advisors LLC grew its holdings in Viavi Solutions by 11.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock worth $157,000 after buying an additional 1,756 shares in the last quarter. Louisiana State Employees Retirement System grew its position 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 stake 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 valued at $515,000 after buying an additional 2,633 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Viavi Solutions by 1.4% during the 1st 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 stake in shares of Viavi Solutions by 15.6% in the 1st quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after acquiring an additional 2,883 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on VIAV shares. Stifel Nicolaus lowered their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. B. Riley lowered their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock 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 objective for the stock from $10.00 to $8.25 in a research note on Wednesday, June 26th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $9.05 on Friday. The company has a market capitalization of $2.02 billion, a PE ratio of -452.50 and a beta of 0.91. 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 fifty day moving average of $8.24 and a 200-day moving average of $7.99. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 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 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%. As a group, equities analysts anticipate that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In related news, Director Masood Jabbar sold 30,000 shares of the firm’s 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 transaction, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company’s stock, valued at $507,846.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the 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 sale, the director now directly owns 243,514 shares of the company’s stock, valued at $1,989,509.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,976 shares of company stock valued at $583,012. 1.80% of the stock is currently owned by corporate insiders.

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.