Edgestream Partners L.P. Boosts Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Edgestream Partners L.P. increased its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 31.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,974 shares of the communications equipment provider’s stock after buying an additional 39,076 shares during the period. Edgestream Partners L.P.’s holdings in Viavi Solutions were worth $1,133,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in VIAV. Sequoia Financial Advisors LLC increased its stake in shares of Viavi Solutions by 11.3% in the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock worth $157,000 after purchasing an additional 1,756 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock worth $772,000 after purchasing an additional 2,100 shares in the last quarter. First National Bank of Omaha increased its stake in shares of Viavi Solutions by 5.4% in the fourth quarter. First National Bank of Omaha now owns 51,146 shares of the communications equipment provider’s stock worth $515,000 after purchasing an additional 2,633 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Viavi Solutions by 1.4% in the first 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. increased its stake in shares of Viavi Solutions by 15.6% in the first 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 Stock Down 1.8 %

Shares of NASDAQ VIAV opened at $8.38 on Friday. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.32. The firm’s fifty day moving average is $7.99 and its 200 day moving average is $8.10. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -419.00 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $252.00 million for the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. On average, equities research analysts expect that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the transaction, the director now directly owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total transaction of $245,100.00. Following the transaction, the director now directly owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul Mcnab sold 5,920 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now directly owns 34,545 shares in the company, valued at $291,905.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,947 shares of company stock valued at $556,175. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, September 10th. B. Riley cut their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus cut their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Finally, Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $8.25 in a research report on Wednesday, June 26th. Five 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.com, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $10.71.

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.