Algert Global LLC Acquires New Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Algert Global LLC acquired a new stake in Viavi Solutions Inc. (NASDAQ:VIAV) during the second quarter, according to its most recent filing with the SEC. The firm acquired 22,433 shares of the communications equipment provider’s stock, valued at approximately $154,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital World Investors boosted its position in shares of Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Viavi Solutions during the 1st quarter worth $29,526,000. Bank of New York Mellon Corp boosted its position in shares of 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 purchasing an additional 1,298,394 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Viavi Solutions by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after purchasing an additional 661,450 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Viavi Solutions by 4.0% during 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 in the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Stock Down 1.8 %

Shares of NASDAQ:VIAV opened at $9.04 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. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The stock has a market capitalization of $2.02 billion, a P/E ratio of -452.00 and a beta of 0.91. The stock has a 50-day simple moving average of $8.33 and a 200-day simple moving average of $7.97.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $251.83 million. Equities analysts forecast that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

VIAV has been the topic of several research analyst reports. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. B. Riley cut 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. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Finally, Stifel Nicolaus cut their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Five equities research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $10.71.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the transaction, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the transaction, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at $267,945.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the company’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 directly owns 243,514 shares in the company, valued at approximately $1,989,509.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,976 shares of company stock worth $583,012. 1.80% of the stock is currently owned by company insiders.

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.