Algert Global LLC Buys 26,500 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Algert Global LLC raised its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 118.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 48,933 shares of the communications equipment provider’s stock after purchasing an additional 26,500 shares during the period. Algert Global LLC’s holdings in Viavi Solutions were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Federated Hermes Inc. raised its position in shares of Viavi Solutions by 98,561.6% during the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock valued at $1,288,000 after buying an additional 187,267 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Viavi Solutions by 1.9% during the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after purchasing an additional 2,100 shares in the last quarter. Boston Partners bought a new stake in Viavi Solutions during the first quarter worth about $795,000. Leeward Investments LLC MA boosted its holdings in shares of Viavi Solutions by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after purchasing an additional 249,554 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Viavi Solutions during the 3rd quarter valued at about $105,000. 95.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on VIAV. UBS Group began coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price for the company. Rosenblatt Securities boosted their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. B. Riley reduced their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. StockNews.com downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus reduced their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.44.

Viavi Solutions Stock Performance

Shares of NASDAQ:VIAV opened at $9.94 on Friday. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $9.50 and a 200-day moving average price of $8.32. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -58.47 and a beta of 0.90. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $240.09 million. During the same quarter in the prior year, the company posted $0.05 EPS. Viavi Solutions’s quarterly revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Activity at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,873,814.80. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Mcnab sold 5,920 shares of Viavi Solutions stock in a transaction that occurred 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 in the company, valued at approximately $291,905.25. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,949 shares of company stock worth $489,511 over the last quarter. Corporate insiders own 1.52% 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.