Stifel Financial Corp Purchases 20,592 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Stifel Financial Corp boosted its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 27.5% in the third quarter, Holdings Channel reports. The firm owned 95,466 shares of the communications equipment provider’s stock after purchasing an additional 20,592 shares during the period. Stifel Financial Corp’s holdings in Viavi Solutions were worth $861,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in 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 buying an additional 187,267 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after acquiring an additional 2,100 shares in the last quarter. Leeward Investments LLC MA increased its position in shares of Viavi Solutions by 17.1% in the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock valued at $15,385,000 after acquiring an additional 249,554 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Viavi Solutions by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after acquiring an additional 217,399 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Viavi Solutions during the third quarter valued at approximately $105,000. Institutional investors own 95.54% of the company’s stock.

Insider Activity

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 owns 57,319 shares of the company’s stock, valued at $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now directly owns 225,333 shares of the company’s stock, valued at $2,284,876.62. The trade was a 6.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,831 shares of company stock worth $345,712. Insiders own 1.52% of the company’s stock.

Viavi Solutions Stock Performance

NASDAQ VIAV opened at $10.33 on Wednesday. The firm’s 50 day simple moving average is $10.02 and its 200 day simple moving average is $8.69. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -60.76 and a beta of 0.92. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.49.

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 the consensus estimate of $0.06. The business had revenue of $238.20 million for 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%. Viavi Solutions’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. As a group, research analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $9.50 target price (up from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. UBS Group began coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective for the company. Stifel Nicolaus boosted their target price on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Rosenblatt Securities upped their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Company Profile

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.