Louisiana State Employees Retirement System Sells 5,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Louisiana State Employees Retirement System reduced its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,300 shares of the communications equipment provider’s stock after selling 5,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Viavi Solutions were worth $968,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Viavi Solutions by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock worth $264,959,000 after acquiring an additional 408,484 shares during the period. Capital World Investors lifted its stake in Viavi Solutions by 305.4% during the first 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 during the period. Westwood Holdings Group Inc. boosted its holdings in Viavi Solutions by 9.2% during the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after purchasing an additional 606,522 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Viavi Solutions by 65.2% in 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 buying an additional 1,298,394 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analyst Upgrades and Downgrades

VIAV has been the topic of a number of analyst reports. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Northland Securities upped their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday. B. Riley cut their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday. Finally, Rosenblatt Securities lifted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.42.

Viavi Solutions Trading Up 6.9 %

Shares of NASDAQ VIAV opened at $9.86 on Monday. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The company has a 50-day moving average of $8.81 and a two-hundred day moving average of $8.01. The company has a market cap of $2.19 billion, a PE ratio of -58.00 and a beta of 0.90. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.21%. Viavi Solutions’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. As a group, equities analysts expect that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the sale, the director now directly owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 approximately $267,945.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the sale, the director now owns 213,514 shares of the company’s stock, valued at $1,957,923.38. 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 85,976 shares of company stock worth $720,562 over the last 90 days. Insiders own 1.52% of the company’s stock.

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.