Charles Schwab Investment Management Inc. Boosts Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Charles Schwab Investment Management Inc. raised its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,194,959 shares of the communications equipment provider’s stock after acquiring an additional 217,399 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Viavi Solutions were worth $28,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Louisiana State Employees Retirement System increased its stake in shares of Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares in the last quarter. nVerses Capital LLC grew its stake in Viavi Solutions by 24.0% during the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock valued at $107,000 after acquiring an additional 2,300 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Viavi Solutions during the third quarter valued at approximately $25,000. KBC Group NV grew its stake in Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after acquiring an additional 3,252 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in Viavi Solutions by 29.2% during the third quarter. QRG Capital Management Inc. now owns 23,959 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 5,420 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Down 2.2 %

NASDAQ:VIAV opened at $10.39 on Thursday. The firm’s 50-day moving average price is $9.61 and its 200-day moving average price is $8.39. The company has a market capitalization of $2.30 billion, a PE ratio of -61.12 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same period in the prior year, the firm posted $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts predict that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on VIAV shares. UBS Group started coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective for the company. B. Riley reduced their price objective 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. Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Northland Securities lifted their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.44.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.20, for a total transaction of $123,000.00. Following the transaction, the director now owns 228,514 shares in the company, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were 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 in the company, valued at $507,846.34. This represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,949 shares of company stock valued at $489,511. 1.52% of the stock is owned by 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.