Geode Capital Management LLC Boosts Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Geode Capital Management LLC boosted its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,307,974 shares of the communications equipment provider’s stock after buying an additional 54,633 shares during the period. Geode Capital Management LLC’s holdings in Viavi Solutions were worth $47,887,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after acquiring an additional 2,100 shares during the last quarter. nVerses Capital LLC boosted its position in shares of Viavi Solutions by 24.0% in the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock valued at $107,000 after purchasing an additional 2,300 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Viavi Solutions during the third quarter worth approximately $25,000. KBC Group NV grew its position in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 3,252 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Viavi Solutions by 7.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider’s stock worth $530,000 after buying an additional 4,043 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Trading Up 0.6 %

VIAV stock opened at $10.26 on Tuesday. 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 company has a market cap of $2.28 billion, a price-to-earnings ratio of -60.35 and a beta of 0.92. The business has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $8.67. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.49.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The company had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts expect that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Activity at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the sale, the senior vice president now owns 54,517 shares of the company’s stock, valued at $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now owns 213,514 shares in the company, valued at $1,957,923.38. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,831 shares of company stock worth $345,712. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VIAV shares. Morgan Stanley reiterated an “underweight” rating and set a $9.50 price target (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. Northland Securities upped their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group began coverage on Viavi Solutions in a report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.44.

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.