Hsbc Holdings PLC Cuts Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Hsbc Holdings PLC cut its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,612 shares of the communications equipment provider’s stock after selling 3,310 shares during the quarter. Hsbc Holdings PLC’s holdings in Viavi Solutions were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in shares of Viavi Solutions by 35.0% during the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 833 shares during the period. Sterling Capital Management LLC boosted its holdings in Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock valued at $70,000 after purchasing an additional 6,171 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Viavi Solutions during the 4th quarter worth approximately $75,000. Smartleaf Asset Management LLC raised its stake in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock worth $84,000 after buying an additional 7,434 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Viavi Solutions by 64.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider’s stock valued at $95,000 after buying an additional 3,684 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the sale, the director now owns 259,081 shares in the company, valued at $2,311,002.52. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders sold a total of 45,549 shares of company stock valued at $485,916 over the last quarter. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Morgan Stanley lowered their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Argus lifted their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a report on Friday, May 2nd. Finally, UBS Group reduced their price objective on Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.69.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $9.20 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The firm has a market cap of $2.05 billion, a PE ratio of -51.11 and a beta of 0.92. The firm has a 50 day simple moving average of $10.43 and a 200-day simple moving average of $10.52. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91.

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.