Harbor Capital Advisors Inc. Boosts Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Harbor Capital Advisors Inc. boosted its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 5.5% in the 4th quarter, HoldingsChannel reports. The fund owned 43,732 shares of the communications equipment provider’s stock after acquiring an additional 2,277 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Viavi Solutions were worth $442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VIAV. JPMorgan Chase & Co. grew its holdings in shares of Viavi Solutions by 39.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,446 shares of the communications equipment provider’s stock worth $4,920,000 after acquiring an additional 153,745 shares during the period. Sanctuary Advisors LLC boosted its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after purchasing an additional 4,875 shares in the last quarter. Geode Capital Management LLC grew its holdings in Viavi Solutions by 1.0% in the third quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after purchasing an additional 54,633 shares during the last quarter. Barclays PLC increased its position in shares of Viavi Solutions by 4.4% in the third quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock valued at $4,856,000 after buying an additional 22,893 shares in the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Viavi Solutions by 34.3% during the 3rd quarter. MML Investors Services LLC now owns 37,480 shares of the communications equipment provider’s stock worth $338,000 after buying an additional 9,580 shares during the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Northland Securities increased their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. UBS Group initiated coverage on shares of Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Stifel Nicolaus raised their price target on Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Trading Up 1.7 %

Shares of VIAV opened at $10.09 on Wednesday. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.49. The stock has a fifty day moving average of $10.24 and a two-hundred day moving average of $8.97. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The company has a market capitalization of $2.24 billion, a PE ratio of -59.35 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting 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 firm had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, analysts forecast that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Transactions at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. This represents a 4.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now directly owns 225,333 shares in the company, valued at $2,284,876.62. This trade represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,802 shares of company stock worth $481,625 in the last three months. Company insiders own 1.52% of the company’s stock.

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.