Wells Fargo & Company MN decreased its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 37.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,166 shares of the communications equipment provider’s stock after selling 188,477 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Viavi Solutions worth $3,277,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Essex Investment Management Co. LLC purchased a new stake in shares of Viavi Solutions during the second quarter valued at $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Viavi Solutions by 10.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock valued at $112,000 after acquiring an additional 1,003 shares during the period. Creative Planning lifted its holdings in Viavi Solutions by 177.9% in the second quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock valued at $119,000 after acquiring an additional 7,235 shares during the period. Piedmont Investment Advisors LLC bought a new position in Viavi Solutions in the first quarter valued at about $148,000. Finally, World Asset Management Inc lifted its holdings in Viavi Solutions by 1.1% in the second quarter. World Asset Management Inc now owns 14,912 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 155 shares during the period. Institutional investors and hedge funds own 92.51% of the company’s stock.
Viavi Solutions Inc. (NASDAQ VIAV) opened at 9.28 on Friday. The stock has a market cap of $2.11 billion, a PE ratio of 13.13 and a beta of 1.31. The company’s 50-day moving average price is $9.64 and its 200-day moving average price is $10.47. Viavi Solutions Inc. has a 12-month low of $6.99 and a 12-month high of $11.89.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The firm had revenue of $198.10 million during the quarter, compared to the consensus estimate of $196.22 million. During the same period in the previous year, the firm posted $0.10 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. On average, equities analysts expect that Viavi Solutions Inc. will post $0.41 EPS for the current fiscal year.
In other news, VP Kevin Christopher Siebert sold 4,591 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $10.11, for a total transaction of $46,415.01. Following the completion of the sale, the vice president now directly owns 6,600 shares of the company’s stock, valued at approximately $66,726. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Belluzzo sold 10,000 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $9.54, for a total transaction of $95,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,694 shares of company stock valued at $978,964 over the last 90 days. Insiders own 0.59% of the company’s stock.
VIAV has been the topic of several recent research reports. MKM Partners raised their price objective on Viavi Solutions from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. B. Riley reissued a “buy” rating and set a $12.50 target price on shares of Viavi Solutions in a research note on Sunday, August 20th. BidaskClub raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. TheStreet downgraded Viavi Solutions from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.78.
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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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