Barclays PLC Acquires 22,893 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Barclays PLC boosted its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 538,261 shares of the communications equipment provider’s stock after purchasing an additional 22,893 shares during the period. Barclays PLC owned about 0.24% of Viavi Solutions worth $4,856,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Viavi Solutions in the third quarter worth $25,000. Innealta Capital LLC purchased a new position in shares of Viavi Solutions in the second quarter worth about $38,000. Quarry LP lifted its stake in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares in the last quarter. Summit Securities Group LLC bought a new position in Viavi Solutions in the 2nd quarter worth approximately $52,000. Finally, Sanctuary Advisors LLC purchased a new position in Viavi Solutions in the 2nd quarter valued at approximately $76,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Stock Performance

Viavi Solutions stock opened at $10.20 on Friday. The firm has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $8.63. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.49. The company has a market capitalization of $2.26 billion, a PE ratio of -60.00 and a beta of 0.92.

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

Insider Activity at Viavi Solutions

In related 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 transaction, the director now owns 213,514 shares in the company, valued at $1,957,923.38. The trade was a 6.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,831 shares of company stock worth $345,712 in the last three months. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VIAV. Morgan Stanley reiterated an “underweight” rating and issued a $9.50 price target (up from $8.00) on shares of Viavi Solutions in a research report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. UBS Group began coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target for the company. Stifel Nicolaus boosted their target price on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, 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 report on Friday, November 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.