Principal Financial Group Inc. Reduces Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Principal Financial Group Inc. lessened its position in shares of Viavi Solutions Inc. (NASDAQ:VIAVGet Rating) by 8.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,429,350 shares of the communications equipment provider’s stock after selling 127,935 shares during the quarter. Principal Financial Group Inc.’s holdings in Viavi Solutions were worth $18,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Viavi Solutions by 2.4% in the 1st quarter. Wellington Management Group LLP now owns 21,420,992 shares of the communications equipment provider’s stock valued at $344,451,000 after purchasing an additional 506,113 shares during the last quarter. Capital World Investors raised its holdings in Viavi Solutions by 9.6% during the first quarter. Capital World Investors now owns 6,830,000 shares of the communications equipment provider’s stock worth $109,826,000 after purchasing an additional 598,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Viavi Solutions by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,942,845 shares of the communications equipment provider’s stock worth $31,241,000 after purchasing an additional 15,950 shares during the last quarter. Bowen Hanes & Co. Inc. increased its position in Viavi Solutions by 74.2% during the first quarter. Bowen Hanes & Co. Inc. now owns 1,776,845 shares of the communications equipment provider’s stock worth $28,572,000 after buying an additional 756,845 shares in the last quarter. Finally, Leeward Investments LLC MA purchased a new position in Viavi Solutions during the first quarter worth $24,351,000. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Luke M. Scrivanich sold 21,027 shares of Viavi Solutions stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $13.03, for a total transaction of $273,981.81. Following the transaction, the senior vice president now directly owns 43,995 shares of the company’s stock, valued at $573,254.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

VIAV has been the subject of a number of recent analyst reports. B. Riley downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $21.00 to $14.50 in a research report on Friday, November 4th. Susquehanna reduced their price objective on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating on the stock in a research note on Friday, August 12th. Rosenblatt Securities assumed coverage on Viavi Solutions in a research note on Wednesday, October 5th. They set a “buy” rating and a $18.00 price objective on the stock. Susquehanna Bancshares cut their price target on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating on the stock in a research note on Friday, August 12th. Finally, Morgan Stanley cut their price target on Viavi Solutions from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Monday, November 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.08.

Viavi Solutions Stock Performance

VIAV opened at $11.15 on Tuesday. Viavi Solutions Inc. has a 1-year low of $10.03 and a 1-year high of $18.14. The business has a 50 day moving average price of $13.23 and a two-hundred day moving average price of $13.89. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 25.93 and a beta of 0.82. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.85 and a quick ratio of 2.52.

Viavi Solutions (NASDAQ:VIAVGet Rating) last released its earnings results on Thursday, November 3rd. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $310.20 million during the quarter, compared to analysts’ expectations of $325.65 million. Viavi Solutions had a net margin of 8.07% and a return on equity of 24.73%. Research analysts predict that Viavi Solutions Inc. will post 0.41 EPS for the current fiscal year.

Viavi Solutions Company Profile

(Get Rating)

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.

Featured Articles

Want to see what other hedge funds are holding VIAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viavi Solutions Inc. (NASDAQ:VIAVGet Rating).

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

Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.