Arizona State Retirement System Grows Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Arizona State Retirement System grew its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAVGet Rating) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,250 shares of the communications equipment provider’s stock after purchasing an additional 2,757 shares during the quarter. Arizona State Retirement System’s holdings in Viavi Solutions were worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VIAV. First Horizon Advisors Inc. boosted its stake in shares of Viavi Solutions by 89.3% during the fourth quarter. First Horizon Advisors Inc. now owns 1,505 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 710 shares during the period. CWM LLC purchased a new stake in Viavi Solutions in the fourth quarter worth $48,000. Cornerstone Investment Partners LLC purchased a new stake in Viavi Solutions in the first quarter worth $182,000. Exane Derivatives purchased a new stake in Viavi Solutions in the first quarter worth $209,000. Finally, Xponance Inc. lifted its stake in Viavi Solutions by 5.1% in the fourth quarter. Xponance Inc. now owns 12,803 shares of the communications equipment provider’s stock worth $226,000 after acquiring an additional 623 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.

Insider Activity

In other news, EVP Paul Mcnab sold 12,103 shares of the firm’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $14.46, for a total transaction of $175,009.38. Following the completion of the transaction, the executive vice president now directly owns 31,178 shares in the company, valued at $450,833.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.63% of the company’s stock.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $14.86 on Wednesday. The company has a current ratio of 4.02, a quick ratio of 3.58 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $3.39 billion, a P/E ratio of -495.33 and a beta of 0.77. The business has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $15.06. Viavi Solutions Inc. has a 12 month low of $12.65 and a 12 month high of $18.14.

Viavi Solutions (NASDAQ:VIAVGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The communications equipment provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.02. Viavi Solutions had a positive return on equity of 22.22% and a negative net margin of 0.23%. The firm had revenue of $315.50 million during the quarter, compared to the consensus estimate of $309.30 million. During the same period last year, the company earned $0.14 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Viavi Solutions Inc. will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VIAV. JPMorgan Chase & Co. dropped their price target on Viavi Solutions from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Needham & Company LLC lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, StockNews.com lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.33.

Viavi Solutions Company Profile

(Get Rating)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.

Further Reading

Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

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