Tygh Capital Management Inc. Reduces Stake in Viavi Solutions Inc (VIAV)

Tygh Capital Management Inc. cut its stake in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 413,265 shares of the communications equipment provider’s stock after selling 10,322 shares during the quarter. Tygh Capital Management Inc. owned 0.18% of Viavi Solutions worth $3,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in VIAV. JPMorgan Chase & Co. raised its stake in shares of Viavi Solutions by 22.4% during the second quarter. JPMorgan Chase & Co. now owns 221,260 shares of the communications equipment provider’s stock worth $2,330,000 after acquiring an additional 40,437 shares in the last quarter. Northern Trust Corp raised its stake in shares of Viavi Solutions by 5.1% during the second quarter. Northern Trust Corp now owns 3,022,015 shares of the communications equipment provider’s stock worth $31,821,000 after acquiring an additional 147,950 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Viavi Solutions by 0.8% during the second quarter. Vanguard Group Inc. now owns 21,052,725 shares of the communications equipment provider’s stock worth $221,685,000 after acquiring an additional 158,549 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Viavi Solutions by 3.3% during the second quarter. California Public Employees Retirement System now owns 618,400 shares of the communications equipment provider’s stock worth $6,512,000 after acquiring an additional 20,000 shares in the last quarter. Finally, OxFORD Asset Management LLP raised its stake in shares of Viavi Solutions by 8.0% during the second quarter. OxFORD Asset Management LLP now owns 154,625 shares of the communications equipment provider’s stock worth $1,628,000 after acquiring an additional 11,396 shares in the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

Several research analysts have commented on VIAV shares. Rosenblatt Securities set a $13.00 price target on shares of Viavi Solutions and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Stifel Nicolaus raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.00 to $12.00 in a research note on Friday, February 2nd. Loop Capital raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Monday, February 5th. Morgan Stanley lifted their target price on shares of Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of Viavi Solutions from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.93.

In related news, Director Keith Barnes sold 13,500 shares of Viavi Solutions stock in a transaction on Monday, February 12th. The shares were sold at an average price of $9.75, for a total value of $131,625.00. Following the sale, the director now owns 119,545 shares in the company, valued at $1,165,563.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Belluzzo sold 10,000 shares of Viavi Solutions stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $9.00, for a total transaction of $90,000.00. Following the completion of the sale, the director now owns 198,910 shares in the company, valued at approximately $1,790,190. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,210 shares of company stock worth $435,069. 0.59% of the stock is currently owned by company insiders.

Shares of Viavi Solutions Inc (NASDAQ VIAV) remained flat at $$9.72 during midday trading on Wednesday. The company’s stock had a trading volume of 1,629,300 shares, compared to its average volume of 2,723,406. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.06. Viavi Solutions Inc has a 12-month low of $8.34 and a 12-month high of $11.89. The company has a market capitalization of $2,195.98, a PE ratio of 74.77, a P/E/G ratio of 1.58 and a beta of 1.11.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, February 1st. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The company had revenue of $201.80 million for the quarter, compared to the consensus estimate of $185.80 million. Viavi Solutions had a net margin of 3.94% and a return on equity of 9.60%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 earnings per share. analysts predict that Viavi Solutions Inc will post 0.31 EPS for the current fiscal year.

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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.

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

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