Federated Hermes Inc. Increases Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Federated Hermes Inc. grew its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 98,561.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 187,457 shares of the communications equipment provider’s stock after buying an additional 187,267 shares during the quarter. Federated Hermes Inc.’s holdings in Viavi Solutions were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of VIAV. Mutual of America Capital Management LLC increased its stake in shares of Viavi Solutions by 423.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock valued at $1,853,000 after purchasing an additional 164,889 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Viavi Solutions by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider’s stock valued at $289,411,000 after buying an additional 451,354 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Viavi Solutions by 127.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock worth $1,862,000 after buying an additional 114,822 shares during the period. Franklin Resources Inc. lifted its position in shares of Viavi Solutions by 12.9% during the 4th quarter. Franklin Resources Inc. now owns 2,498,711 shares of the communications equipment provider’s stock valued at $25,162,000 after buying an additional 285,907 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Viavi Solutions by 17.4% in the 1st quarter. First Eagle Investment Management LLC now owns 750,937 shares of the communications equipment provider’s stock valued at $6,826,000 after acquiring an additional 111,500 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Price Performance

NASDAQ:VIAV opened at $8.38 on Friday. The stock has a 50 day moving average price of $7.99 and a 200 day moving average price of $8.08. The stock has a market cap of $1.87 billion, a PE ratio of -419.00 and a beta of 0.91. 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 one year low of $6.60 and a one year high of $11.32.

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

Analyst Ratings Changes

A number of equities analysts have weighed in 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Rosenblatt Securities lowered Viavi Solutions from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $8.25 in a research note on Wednesday, June 26th. Stifel Nicolaus decreased their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, B. Riley dropped their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Viavi Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

Insiders Place Their Bets

In other news, EVP Paul Mcnab sold 7,324 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total value of $55,076.48. Following the completion of the sale, the executive vice president now owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Paul Mcnab sold 7,324 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the transaction, the executive vice president now owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the sale, the senior vice president now directly owns 56,617 shares of the company’s stock, valued at $488,604.71. The disclosure for this sale can be found here. Insiders have sold 67,947 shares of company stock valued at $556,175 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Viavi Solutions Profile

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.