Bowen Hanes & Co. Inc. bought a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV – Free Report) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,870,000 shares of the communications equipment provider’s stock, valued at approximately $33,323,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in VIAV. Royal Bank of Canada raised its position in shares of Viavi Solutions by 11.5% during the first quarter. Royal Bank of Canada now owns 183,320 shares of the communications equipment provider’s stock worth $2,051,000 after acquiring an additional 18,910 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Viavi Solutions by 110.5% during the first quarter. AQR Capital Management LLC now owns 33,663 shares of the communications equipment provider’s stock worth $377,000 after acquiring an additional 17,673 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Viavi Solutions by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,061 shares of the communications equipment provider’s stock worth $1,467,000 after acquiring an additional 5,775 shares during the last quarter. Millennium Management LLC raised its position in shares of Viavi Solutions by 205.4% during the first quarter. Millennium Management LLC now owns 476,767 shares of the communications equipment provider’s stock worth $5,335,000 after acquiring an additional 320,662 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Viavi Solutions during the first quarter worth $165,000. Institutional investors own 95.54% of the company’s stock.
Insider Transactions at Viavi Solutions
In other Viavi Solutions news, SVP Luke M. Scrivanich sold 10,693 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $53.00, for a total value of $566,729.00. Following the completion of the transaction, the senior vice president directly owned 39,287 shares of the company’s stock, valued at approximately $2,082,211. The trade was a 21.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Oleg Khaykin sold 136,547 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $51.82, for a total value of $7,075,865.54. Following the completion of the transaction, the chief executive officer directly owned 1,188,798 shares of the company’s stock, valued at approximately $61,603,512.36. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 450,369 shares of company stock valued at $23,789,119. Insiders own 1.80% of the company’s stock.
Viavi Solutions Trading Down 0.9%
Viavi Solutions (NASDAQ:VIAV – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $406.80 million during the quarter, compared to the consensus estimate of $393.80 million. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.The firm’s revenue was up 42.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. Research analysts forecast that Viavi Solutions Inc. will post 0.73 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Viavi Solutions from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. B. Riley Financial boosted their target price on Viavi Solutions from $26.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Needham & Company LLC upped their price objective on Viavi Solutions from $28.00 to $36.00 and gave the company a “buy” rating in a report on Monday, March 2nd. UBS Group upped their price objective on Viavi Solutions from $25.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Susquehanna upped their price objective on Viavi Solutions from $25.00 to $65.00 and gave the company a “positive” rating in a report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.25.
View Our Latest Report on Viavi Solutions
Viavi Solutions Company Profile
Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.
Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.
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