Earnest Partners LLC Sells 34,651 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Earnest Partners LLC trimmed its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 893,655 shares of the communications equipment provider’s stock after selling 34,651 shares during the quarter. Earnest Partners LLC owned about 0.40% of Viavi Solutions worth $6,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Mutual of America Capital Management LLC lifted its position in Viavi Solutions by 423.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock worth $1,853,000 after acquiring an additional 164,889 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Viavi Solutions by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock worth $289,411,000 after purchasing an additional 451,354 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Viavi Solutions by 127.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock worth $1,862,000 after purchasing an additional 114,822 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Viavi Solutions by 98,561.6% during the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after purchasing an additional 187,267 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Viavi Solutions by 17.4% during the 1st quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock valued at $6,826,000 after purchasing an additional 111,500 shares during the period. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Price Performance

Shares of Viavi Solutions stock opened at $8.88 on Friday. The firm has a market cap of $1.98 billion, a P/E ratio of -444.00 and a beta of 0.91. The firm’s 50-day simple moving average is $8.06 and its 200-day simple moving average is $8.04. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. The company had revenue of $252.00 million for the quarter, compared to the consensus estimate of $251.83 million. As a group, research analysts expect that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kevin Christopher Siebert sold 8,432 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the sale, the senior vice president now owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the transaction, the senior vice president now owns 56,617 shares in the company, valued at $488,604.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the sale, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. The disclosure for this sale can be found here. Insiders sold 70,976 shares of company stock worth $583,012 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Stifel Nicolaus reduced their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Finally, B. Riley reduced their target price 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. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.71.

Viavi Solutions Company 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.