Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,668 shares of the communications equipment provider’s stock after selling 3,089 shares during the period. Pitcairn Co.’s holdings in Viavi Solutions were worth $259,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Algert Global LLC boosted its holdings in Viavi Solutions by 118.1% in the third quarter. Algert Global LLC now owns 48,933 shares of the communications equipment provider’s stock valued at $441,000 after purchasing an additional 26,500 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Viavi Solutions by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after buying an additional 217,399 shares during the last quarter. Intech Investment Management LLC raised its position in Viavi Solutions by 132.0% during the third quarter. Intech Investment Management LLC now owns 68,107 shares of the communications equipment provider’s stock valued at $614,000 after acquiring an additional 38,747 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Viavi Solutions by 125.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 222,779 shares of the communications equipment provider’s stock valued at $2,009,000 after acquiring an additional 124,057 shares during the period. Finally, Gilbert & Cook Inc. purchased a new stake in Viavi Solutions in the 3rd quarter worth approximately $95,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Trading Down 3.0 %

Shares of VIAV stock opened at $9.88 on Thursday. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The stock’s fifty day moving average is $9.41 and its two-hundred day moving average is $8.28. The firm has a market capitalization of $2.19 billion, a P/E ratio of -58.11 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. During the same period in the previous year, the business posted $0.05 earnings per share. Viavi Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. Research analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus dropped their target price 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. Northland Securities lifted their price target on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group started coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective on the stock. Finally, Rosenblatt Securities upped their target price on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.44.

Insider Activity at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares of the company’s stock, valued at $1,873,814.80. This represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the sale, the executive vice president now owns 34,545 shares of the company’s stock, valued at $291,905.25. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,949 shares of company stock valued at $489,511. 1.52% of the stock is currently owned by insiders.

Viavi Solutions 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.