Commerce Bank Sells 1,495 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Commerce Bank trimmed its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 3.5% in the third quarter, Holdings Channel reports. The fund owned 41,480 shares of the communications equipment provider’s stock after selling 1,495 shares during the period. Commerce Bank’s holdings in Viavi Solutions were worth $374,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of VIAV. Bank of New York Mellon Corp grew its position in shares of Viavi Solutions by 65.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after purchasing an additional 1,298,394 shares during the period. Dimensional Fund Advisors LP lifted its stake in Viavi Solutions by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after buying an additional 661,450 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Viavi Solutions by 9.2% in the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after buying an additional 606,522 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Viavi Solutions by 1.4% in the first quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after buying an additional 408,484 shares during the period. Finally, Leeward Investments LLC MA raised its holdings in shares of Viavi Solutions by 17.1% during the third quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after acquiring an additional 249,554 shares during the period. 95.54% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total transaction of $72,768.16. Following the transaction, the senior vice president now directly owns 56,617 shares of the company’s stock, valued at approximately $488,604.71. The trade was a 12.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Mcnab sold 5,920 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the sale, the executive vice president now directly owns 34,545 shares of the company’s stock, valued at $291,905.25. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,381 shares of company stock valued at $562,279. 1.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Northland Securities upped their price objective on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. B. Riley dropped their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus reduced their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities lifted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Viavi Solutions has an average rating of “Moderate Buy” and an average target price of $10.44.

Viavi Solutions Stock Up 0.1 %

NASDAQ:VIAV opened at $10.19 on Wednesday. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -59.94 and a beta of 0.90. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The stock’s 50 day moving average price is $9.38 and its two-hundred day moving average price is $8.26.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share. Equities research analysts expect that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Viavi Solutions Company 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.