Schroder Investment Management Group lowered its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,367,223 shares of the communications equipment provider’s stock after selling 120,698 shares during the period. Schroder Investment Management Group owned 0.60% of Viavi Solutions worth $12,920,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of VIAV. Commonwealth Equity Services Inc acquired a new stake in Viavi Solutions during the 3rd quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viavi Solutions by 10.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock worth $112,000 after acquiring an additional 1,003 shares during the period. Creative Planning grew its holdings in Viavi Solutions by 177.9% during the 2nd quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock worth $119,000 after acquiring an additional 7,235 shares during the period. BlueMountain Capital Management LLC acquired a new stake in Viavi Solutions during the 2nd quarter worth $123,000. Finally, Sciencast Management LP acquired a new stake in Viavi Solutions during the 2nd quarter worth $146,000. 92.49% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on VIAV. B. Riley reaffirmed a “buy” rating and set a $14.00 target price on shares of Viavi Solutions in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Viavi Solutions from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 target price on shares of Viavi Solutions in a report on Wednesday, August 16th. MKM Partners lifted their target price on shares of Viavi Solutions from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, BidaskClub lowered shares of Viavi Solutions from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.78.
In related news, SVP Ralph Rondinone sold 27,272 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $9.44, for a total value of $257,447.68. Following the sale, the senior vice president now directly owns 22,738 shares of the company’s stock, valued at approximately $214,646.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Paul Mcnab sold 27,936 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $9.87, for a total transaction of $275,728.32. Following the completion of the sale, the executive vice president now directly owns 44,755 shares in the company, valued at $441,731.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,610 shares of company stock worth $897,523. Insiders own 0.59% of the company’s stock.
Viavi Solutions Inc. (VIAV) opened at $8.81 on Friday. The firm has a market cap of $2,021.78, a price-to-earnings ratio of 29.63, a PEG ratio of 1.46 and a beta of 1.19. Viavi Solutions Inc. has a 52-week low of $8.13 and a 52-week high of $11.89. The company has a current ratio of 2.20, a quick ratio of 2.10 and a debt-to-equity ratio of 0.47.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. The company had revenue of $195.20 million for the quarter, compared to analysts’ expectations of $183.89 million. Viavi Solutions had a net margin of 10.57% and a return on equity of 8.99%. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. research analysts anticipate that Viavi Solutions Inc. will post 0.31 EPS for the current year.
About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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