State of Alaska Department of Revenue Sells 4,431 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

State of Alaska Department of Revenue reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,636 shares of the communications equipment provider’s stock after selling 4,431 shares during the period. State of Alaska Department of Revenue’s holdings in Viavi Solutions were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VIAV. Innealta Capital LLC bought a new position in shares of Viavi Solutions in the second quarter worth about $38,000. Quarry LP boosted its position in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 5,838 shares during the period. Summit Securities Group LLC bought a new stake in Viavi Solutions during the 2nd quarter worth approximately $52,000. Headlands Technologies LLC acquired a new position in Viavi Solutions in the 1st quarter valued at approximately $55,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Viavi Solutions during the second quarter valued at $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $9.58 on Tuesday. 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 company has a fifty day moving average of $8.81 and a 200-day moving average of $8.01. The firm has a market capitalization of $2.12 billion, a P/E ratio of -56.35 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The company had revenue of $238.20 million for 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%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, sell-side analysts anticipate that Viavi Solutions Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VIAV shares. Northland Securities increased their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Monday. 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 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 increased their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.42.

Insider Buying and Selling at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the company’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 transaction of $26,836.94. Following the transaction, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at $507,846.34. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total value 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 $1,957,923.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,029 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now owns 57,319 shares in the company, valued at $507,846.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,976 shares of company stock valued at $720,562. Company insiders own 1.52% of the company’s stock.

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.