Piermont Capital Management Inc. trimmed its position in Viavi Solutions Inc (NASDAQ:VIAV) by 13.3% in the 1st quarter, Holdings Channel reports. The firm owned 43,850 shares of the communications equipment provider’s stock after selling 6,710 shares during the quarter. Piermont Capital Management Inc.’s holdings in Viavi Solutions were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently made changes to their positions in VIAV. US Bancorp DE grew its holdings in Viavi Solutions by 635.8% during the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock worth $107,000 after acquiring an additional 10,554 shares during the period. Zeke Capital Advisors LLC acquired a new stake in Viavi Solutions during the fourth quarter worth about $114,000. LMR Partners LLP acquired a new stake in Viavi Solutions during the fourth quarter worth about $195,000. Xact Kapitalforvaltning AB acquired a new stake in Viavi Solutions during the fourth quarter worth about $244,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Viavi Solutions during the first quarter worth about $252,000. Hedge funds and other institutional investors own 90.84% of the company’s stock.
Several brokerages have commented on VIAV. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Friday, March 23rd. ValuEngine lowered Viavi Solutions from a “hold” rating to a “sell” rating in a report on Friday, March 23rd. Stifel Nicolaus raised Viavi Solutions from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $12.00 in a report on Friday, February 2nd. Loop Capital raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Monday, February 5th. Finally, BidaskClub raised Viavi Solutions from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Viavi Solutions has a consensus rating of “Hold” and an average price target of $11.16.
In other news, EVP Paul Mcnab sold 3,725 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $9.73, for a total value of $36,244.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Amar Maletira sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 12th. The shares were sold at an average price of $10.25, for a total value of $46,125.00. Following the completion of the transaction, the chief financial officer now owns 150,022 shares in the company, valued at approximately $1,537,725.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,047 shares of company stock worth $757,058. Company insiders own 0.59% of the company’s stock.
NASDAQ VIAV opened at $10.14 on Wednesday. The company has a market capitalization of $2.30 billion, a PE ratio of 40.56, a PEG ratio of 1.49 and a beta of 0.96. Viavi Solutions Inc has a 1-year low of $8.34 and a 1-year high of $11.78. The company has a current ratio of 1.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.48.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, May 3rd. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $219.40 million for the quarter, compared to the consensus estimate of $208.00 million. Viavi Solutions had a positive return on equity of 10.74% and a negative net margin of 0.43%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 earnings per share. research analysts predict that Viavi Solutions Inc will post 0.34 earnings per share for the current fiscal year.
Viavi Solutions declared that its board has authorized a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Viavi Solutions Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, and enterprises and their ecosystems worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments. The Network Enablement segment offers testing solutions that access the network to perform build-out and maintenance tasks.
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