Viavi Solutions Inc. (NASDAQ:VIAV) Holdings Raised by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 181.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,196 shares of the communications equipment provider’s stock after purchasing an additional 19,455 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Viavi Solutions were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VIAV. Sequoia Financial Advisors LLC lifted its stake in Viavi Solutions by 11.3% during the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 1,756 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after acquiring an additional 2,100 shares in the last quarter. nVerses Capital LLC boosted its stake in Viavi Solutions by 24.0% in the 3rd quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider’s stock worth $107,000 after purchasing an additional 2,300 shares during the period. Texas Permanent School Fund Corp grew its position in Viavi Solutions by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after purchasing an additional 2,754 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Viavi Solutions by 15.6% during the 1st quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after purchasing an additional 2,883 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Up 6.9 %

Shares of NASDAQ VIAV opened at $9.86 on Monday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -58.00 and a beta of 0.90. The business has a 50 day simple moving average of $8.81 and a 200 day simple moving average of $8.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.21%. The company had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. During the same quarter in the prior year, the business posted $0.05 EPS. Viavi Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. On average, research analysts predict that Viavi Solutions Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Northland Securities raised their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday. Rosenblatt Securities lifted their target price on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus lowered their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Viavi Solutions has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Insider Buying and Selling at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the completion of the sale, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,976 shares of company stock worth $720,562 over the last three months. Corporate insiders own 1.52% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.