State of New Jersey Common Pension Fund D Has $2.09 Million Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

State of New Jersey Common Pension Fund D cut its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 231,997 shares of the communications equipment provider’s stock after selling 24,181 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.10% of Viavi Solutions worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VIAV. Vanguard Group Inc. boosted its stake in Viavi Solutions by 1.4% during the first quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock worth $264,959,000 after acquiring an additional 408,484 shares in the last quarter. Capital World Investors boosted its position in shares of Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares in the last quarter. Westwood Holdings Group Inc. increased its position in Viavi Solutions by 9.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after buying an additional 606,522 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after buying an additional 661,450 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after buying an additional 1,298,394 shares during the period. 95.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Northland Securities raised their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. B. Riley dropped their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus decreased their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Insider Transactions at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. This trade represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the sale, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This trade represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,652 shares of company stock worth $817,585 over the last quarter. Corporate insiders own 1.52% of the company’s stock.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $9.87 on Friday. The company has a market capitalization of $2.19 billion, a PE ratio of -58.06 and a beta of 0.90. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The stock’s 50 day moving average price is $9.18 and its 200-day moving average price is $8.16. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share 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 analysts’ expectations of $240.09 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current year.

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.