Victory Capital Management Inc. Trims Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Victory Capital Management Inc. decreased its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 56.8% in the 4th quarter, Holdings Channel reports. The firm owned 41,703 shares of the communications equipment provider’s stock after selling 54,888 shares during the period. Victory Capital Management Inc.’s holdings in Viavi Solutions were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in Viavi Solutions in the 4th quarter valued at $75,000. Smartleaf Asset Management LLC increased its stake in Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after buying an additional 7,434 shares during the period. KBC Group NV increased its stake in Viavi Solutions by 53.0% in the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after buying an additional 3,252 shares during the period. Park Avenue Securities LLC increased its stake in Viavi Solutions by 15.4% in the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock valued at $136,000 after buying an additional 1,792 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in Viavi Solutions by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after buying an additional 4,875 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on VIAV. UBS Group boosted their price objective on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a “neutral” rating in a research note on Friday, January 31st. B. Riley upped their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Rosenblatt Securities raised shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, March 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Finally, StockNews.com cut shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $11.62 on Friday. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -64.55 and a beta of 0.94. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $12.91. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $10.16. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94.

Insider Activity at Viavi Solutions

In related news, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total value of $100,187.06. Following the sale, the executive vice president now directly owns 38,775 shares of the company’s stock, valued at approximately $430,014.75. This represents a 18.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Luke M. Scrivanich sold 14,323 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, the senior vice president now directly owns 55,877 shares in the company, valued at approximately $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,164 shares of company stock valued at $711,422. Insiders own 1.52% of the company’s stock.

About Viavi Solutions

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.