Dark Forest Capital Management LP Buys 25,447 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Dark Forest Capital Management LP raised its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 36.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 95,154 shares of the communications equipment provider’s stock after buying an additional 25,447 shares during the quarter. Dark Forest Capital Management LP’s holdings in Viavi Solutions were worth $654,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Viavi Solutions in the 2nd quarter valued at $38,000. Headlands Technologies LLC bought a new stake in shares of Viavi Solutions during the 1st quarter worth $55,000. Summit Securities Group LLC acquired a new stake in Viavi Solutions in the second quarter valued at about $52,000. Park Avenue Securities LLC bought a new position in Viavi Solutions in the first quarter valued at about $99,000. Finally, Heritage Family Offices LLP bought a new position in Viavi Solutions in the second quarter valued at about $92,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Price Performance

Shares of VIAV opened at $8.88 on Friday. The business has a 50-day moving average of $8.06 and a 200-day moving average of $8.04. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -444.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.55 and a quick ratio of 3.16.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VIAV. Rosenblatt Securities downgraded shares of Viavi Solutions from a “buy” rating to a “neutral” rating and reduced their price target for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus lowered their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a report on Tuesday, August 6th. B. Riley cut their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Viavi Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.71.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions 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 completion of the sale, the executive vice president now directly owns 35,631 shares in the company, valued at $267,945.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the transaction, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total value of $245,100.00. Following the transaction, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The disclosure for this sale can be found here. Insiders have sold a total of 70,976 shares of company stock worth $583,012 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Viavi Solutions 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.