Northern Trust Corp trimmed its holdings in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,870,295 shares of the communications equipment provider’s stock after selling 20,929 shares during the quarter. Northern Trust Corp owned about 1.27% of Viavi Solutions worth $27,899,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Viavi Solutions by 1.1% in the 1st quarter. Rhumbline Advisers now owns 567,627 shares of the communications equipment provider’s stock worth $5,517,000 after purchasing an additional 5,926 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Viavi Solutions by 49.5% in the 1st quarter. US Bancorp DE now owns 18,254 shares of the communications equipment provider’s stock worth $177,000 after purchasing an additional 6,040 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of Viavi Solutions by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 620,058 shares of the communications equipment provider’s stock worth $5,419,000 after purchasing an additional 11,066 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Viavi Solutions by 8.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 152,015 shares of the communications equipment provider’s stock worth $1,478,000 after purchasing an additional 12,055 shares in the last quarter. Finally, Zeke Capital Advisors LLC purchased a new position in shares of Viavi Solutions in the 4th quarter worth about $114,000. Institutional investors and hedge funds own 92.13% of the company’s stock.
In other news, CFO Amar Maletira sold 4,500 shares of the stock in a transaction that occurred on Thursday, April 12th. The stock was 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 of the company’s stock, valued at approximately $1,537,725.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 7,203 shares of company stock valued at $73,371 in the last three months. Corporate insiders own 0.59% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Argus upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $9.92 price objective for the company in a report on Tuesday, May 8th. JPMorgan Chase & Co. assumed coverage on Viavi Solutions in a report on Thursday, May 3rd. They issued an “underweight” rating and a $10.00 price objective for the company. William Blair reiterated a “buy” rating on shares of Viavi Solutions in a report on Thursday, May 24th. BidaskClub upgraded Viavi Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, Deutsche Bank assumed coverage on Viavi Solutions in a report on Thursday, June 7th. They issued a “hold” rating and a $10.50 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Viavi Solutions has a consensus rating of “Hold” and an average price target of $11.09.
Viavi Solutions opened at $10.00 on Friday, according to Marketbeat.com. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 40.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.58 and a quick ratio of 1.43. Viavi Solutions Inc has a one year low of $8.34 and a one year high of $11.54.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, May 3rd. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The business had revenue of $219.40 million during the quarter, compared to analyst estimates of $208.00 million. Viavi Solutions had a positive return on equity of 10.74% and a negative net margin of 0.43%. Viavi Solutions’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS. equities research analysts forecast that Viavi Solutions Inc will post 0.33 EPS for the current fiscal year.
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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