Viavi Solutions Inc. (NASDAQ:VIAV) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 125.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,779 shares of the communications equipment provider’s stock after acquiring an additional 124,057 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Viavi Solutions worth $2,009,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of VIAV. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions during the third quarter worth about $25,000. Innealta Capital LLC acquired a new stake in shares of Viavi Solutions during the 2nd quarter worth approximately $38,000. Quarry LP raised its position in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares during the period. Summit Securities Group LLC acquired a new position in Viavi Solutions in the second quarter valued at approximately $52,000. Finally, KBC Group NV grew its position in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 3,252 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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 report on Friday, November 1st. Northland Securities upped their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. B. Riley dropped their price target 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. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, UBS Group initiated coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price for the company. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Viavi Solutions has an average rating of “Moderate Buy” and a consensus price target of $10.44.

Viavi Solutions Price Performance

Shares of VIAV opened at $10.18 on Tuesday. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The company has a market cap of $2.26 billion, a P/E ratio of -59.88 and a beta of 0.90. The firm’s 50 day moving average price is $9.34 and its 200 day moving average price is $8.24.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same period last year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts forecast that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now directly owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the completion of the transaction, the director now directly owns 228,514 shares in the company, valued at $1,873,814.80. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,381 shares of company stock valued at $562,279. 1.52% of the stock is currently owned by corporate insiders.

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.