Cibc World Markets Corp Purchases Shares of 20,607 Viavi Solutions Inc. (NASDAQ:VIAV)

Cibc World Markets Corp purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,607 shares of the communications equipment provider’s stock, valued at approximately $208,000.

Other hedge funds have also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in Viavi Solutions by 35.0% in the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 833 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Viavi Solutions by 8.1% during the fourth quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 1,288 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Viavi Solutions by 15.4% during the fourth quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after buying an additional 1,792 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Viavi Solutions by 5.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after buying an additional 2,277 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Viavi Solutions by 0.6% in the 4th quarter. Swiss National Bank now owns 438,400 shares of the communications equipment provider’s stock valued at $4,428,000 after acquiring an additional 2,600 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Trading Down 1.0 %

VIAV stock opened at $11.59 on Thursday. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio 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 simple moving average is $11.31 and its 200-day simple moving average is $10.24. The firm has a market cap of $2.57 billion, a P/E ratio of -64.39 and a beta of 0.94.

Insider Buying and Selling at Viavi Solutions

In related news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the sale, the director now directly owns 180,333 shares in the company, valued at approximately $1,805,133.33. The trade was a 14.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total value of $100,187.06. Following the transaction, the executive vice president now directly owns 38,775 shares of the company’s stock, valued at $430,014.75. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,164 shares of company stock valued at $711,422. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

VIAV has been the subject of a number of research reports. B. Riley lifted their price target on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Rosenblatt Securities upgraded Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Friday, March 7th. UBS Group raised their price target on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a research report on Friday, January 31st. StockNews.com downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.72.

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.