Lannebo Fonder AB Buys 10,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Lannebo Fonder AB lifted its stake in Viavi Solutions Inc. (NASDAQ:VIAVGet Rating) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,000 shares of the communications equipment provider’s stock after purchasing an additional 10,000 shares during the quarter. Viavi Solutions comprises approximately 0.5% of Lannebo Fonder AB’s holdings, making the stock its 26th largest position. Lannebo Fonder AB owned 0.09% of Viavi Solutions worth $2,778,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in VIAV. Charles Schwab Investment Management Inc. boosted its position in shares of Viavi Solutions by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,926,895 shares of the communications equipment provider’s stock worth $33,953,000 after purchasing an additional 120,695 shares in the last quarter. Geode Capital Management LLC lifted its position in Viavi Solutions by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 4,323,482 shares of the communications equipment provider’s stock valued at $76,179,000 after acquiring an additional 494,973 shares in the last quarter. American International Group Inc. lifted its position in Viavi Solutions by 1.4% in the 4th quarter. American International Group Inc. now owns 145,491 shares of the communications equipment provider’s stock valued at $2,564,000 after acquiring an additional 1,999 shares in the last quarter. Gotham Asset Management LLC lifted its position in Viavi Solutions by 7.0% in the 4th quarter. Gotham Asset Management LLC now owns 20,798 shares of the communications equipment provider’s stock valued at $366,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position in Viavi Solutions by 126.8% in the 4th quarter. Squarepoint Ops LLC now owns 270,546 shares of the communications equipment provider’s stock valued at $4,767,000 after acquiring an additional 151,272 shares in the last quarter. 92.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VIAV. Morgan Stanley upped their price objective on Viavi Solutions from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 14th. JPMorgan Chase & Co. lowered their price objective on Viavi Solutions from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. StockNews.com upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 15th. Needham & Company LLC lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Finally, Susquehanna decreased their target price on shares of Viavi Solutions from $20.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, August 12th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $17.80.

Viavi Solutions Price Performance

VIAV stock traded down $0.22 during trading on Friday, reaching $13.07. The company’s stock had a trading volume of 73,929 shares, compared to its average volume of 1,862,285. Viavi Solutions Inc. has a 1 year low of $12.65 and a 1 year high of $18.14. The company has a quick ratio of 2.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $2.96 billion, a P/E ratio of 265.80 and a beta of 0.77. The company’s fifty day moving average is $14.54 and its 200-day moving average is $14.59.

Viavi Solutions (NASDAQ:VIAVGet Rating) last issued its quarterly earnings results on Thursday, August 11th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Viavi Solutions had a return on equity of 23.68% and a net margin of 1.20%. The business had revenue of $335.30 million during the quarter, compared to analyst estimates of $320.62 million. During the same quarter in the prior year, the business posted $0.16 EPS. Viavi Solutions’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts expect that Viavi Solutions Inc. will post 0.78 earnings per share for the current fiscal year.

About Viavi Solutions

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Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.

See Also

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

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