New Mexico Educational Retirement Board bought a new stake in Viavi Solutions Inc. (NASDAQ:VIAV – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 48,600 shares of the communications equipment provider’s stock, valued at approximately $2,321,000.
Other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC increased its position in shares of Viavi Solutions by 96.2% during the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 380 shares during the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Viavi Solutions by 83.2% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 387 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Viavi Solutions by 3.6% in the 4th quarter. Corient Private Wealth LLC now owns 11,400 shares of the communications equipment provider’s stock worth $204,000 after acquiring an additional 394 shares during the last quarter. Lido Advisors LLC lifted its holdings in shares of Viavi Solutions by 2.0% in the 4th quarter. Lido Advisors LLC now owns 24,555 shares of the communications equipment provider’s stock worth $438,000 after acquiring an additional 473 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in shares of Viavi Solutions by 1.5% during the 4th quarter. Maryland State Retirement & Pension System now owns 32,572 shares of the communications equipment provider’s stock worth $580,000 after purchasing an additional 478 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.
Viavi Solutions Trading Down 5.0%
Shares of VIAV stock opened at $36.54 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.85. The stock has a market capitalization of $9.02 billion, a P/E ratio of -243.58 and a beta of 1.21. The company has a 50 day moving average price of $41.22 and a 200 day moving average price of $40.81. Viavi Solutions Inc. has a fifty-two week low of $11.09 and a fifty-two week high of $60.43.
Analyst Upgrades and Downgrades
VIAV has been the subject of several research reports. UBS Group dropped their target price on shares of Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Weiss Ratings raised Viavi Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. Susquehanna lifted their price objective on Viavi Solutions from $65.00 to $66.00 and gave the company a “positive” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.88.
Get Our Latest Stock Report on VIAV
Insider Buying and Selling at Viavi Solutions
In other news, EVP Paul Mcnab sold 1,595 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $37.37, for a total transaction of $59,605.15. Following the sale, the executive vice president owned 13,876 shares of the company’s stock, valued at approximately $518,546.12. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura A. Black sold 71,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $46.12, for a total value of $3,274,520.00. Following the completion of the sale, the director owned 71,497 shares in the company, valued at approximately $3,297,441.64. The trade was a 49.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.
About Viavi Solutions
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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