Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,610 shares of the communications equipment provider’s stock after selling 11,476 shares during the period. Raymond James & Associates’ holdings in Viavi Solutions were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Viavi Solutions in the 4th quarter worth approximately $169,000. Vanguard Group Inc. lifted its stake in shares of Viavi Solutions by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider’s stock valued at $258,558,000 after purchasing an additional 424,564 shares during the period. Wellington Management Group LLP boosted its holdings in Viavi Solutions by 9.0% during the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after buying an additional 1,321,599 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Viavi Solutions during the third quarter valued at $168,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Viavi Solutions by 36.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock valued at $26,257,000 after buying an additional 768,759 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Insider Activity

In related news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares in the company, valued at approximately $615,322.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares in the company, valued at approximately $615,322.80. The disclosure for this sale can be found here. Insiders have sold 30,093 shares of company stock valued at $319,841 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Northland Securities raised their price objective on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Monday, April 1st. Rosenblatt Securities reduced their price target on shares of Viavi Solutions from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, Susquehanna raised their price objective on shares of Viavi Solutions from $12.00 to $14.00 and gave the company a “positive” rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $8.01 on Friday. The stock’s 50-day moving average is $9.31 and its two-hundred day moving average is $9.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09. Viavi Solutions Inc. has a 1 year low of $7.26 and a 1 year high of $11.65. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 400.50 and a beta of 0.95.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. The firm had revenue of $254.50 million for the quarter, compared to the consensus estimate of $249.77 million. Analysts predict that Viavi Solutions Inc. will post 0.22 earnings per share for the current year.

About Viavi Solutions

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