Victory Capital Management Inc. Sells 13,984 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Victory Capital Management Inc. decreased its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 12.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 96,591 shares of the communications equipment provider’s stock after selling 13,984 shares during the quarter. Victory Capital Management Inc.’s holdings in Viavi Solutions were worth $871,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in Viavi Solutions in the 3rd quarter valued at about $25,000. Leeward Investments LLC MA lifted its position in shares of Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after buying an additional 249,554 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Viavi Solutions by 29.2% during the 3rd quarter. QRG Capital Management Inc. now owns 23,959 shares of the communications equipment provider’s stock worth $216,000 after buying an additional 5,420 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Viavi Solutions by 181.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 30,196 shares of the communications equipment provider’s stock worth $272,000 after buying an additional 19,455 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Viavi Solutions during the 3rd quarter worth approximately $105,000. Institutional investors own 95.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on VIAV shares. Rosenblatt Securities lifted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. B. Riley lowered their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Northland Securities lifted their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.44.

Viavi Solutions Stock Down 3.0 %

Viavi Solutions stock opened at $9.88 on Thursday. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -59.94 and a beta of 0.90. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The firm has a 50 day simple moving average of $9.41 and a 200 day simple moving average of $8.28.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same period in the previous year, the business earned $0.05 EPS. Viavi Solutions’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares in the company, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 5,920 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now owns 34,545 shares of the company’s stock, valued at $291,905.25. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,949 shares of company stock worth $489,511. Corporate insiders own 1.52% of the company’s stock.

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.