Inspire Investing LLC grew its position in Viavi Solutions Inc. (NASDAQ:VIAV – Free Report) by 128.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,628 shares of the communications equipment provider’s stock after purchasing an additional 67,926 shares during the quarter. Inspire Investing LLC’s holdings in Viavi Solutions were worth $5,057,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of VIAV. BlackRock Inc. acquired a new position in shares of Viavi Solutions during the second quarter worth $1,228,529,000. Assenagon Asset Management S.A. boosted its position in shares of Viavi Solutions by 1,402.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider’s stock worth $236,418,000 after acquiring an additional 5,264,496 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Viavi Solutions during the 2nd quarter worth about $134,922,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Viavi Solutions in the 1st quarter valued at about $75,294,000. Finally, Bowen Hanes & Co. Inc. increased its holdings in shares of Viavi Solutions by 7.0% in the 1st quarter. Bowen Hanes & Co. Inc. now owns 2,000,000 shares of the communications equipment provider’s stock valued at $66,560,000 after acquiring an additional 130,000 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on VIAV shares. B. Riley Financial cut their target price on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Stifel Nicolaus set a $65.00 price objective on shares of Viavi Solutions in a report on Wednesday, September 23rd. Susquehanna boosted their price objective on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen cut shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.43.
Get Our Latest Stock Report on Viavi Solutions
Insider Buying and Selling at Viavi Solutions
In related news, EVP Ilan Daskal sold 56,290 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the completion of the sale, the executive vice president owned 10,132 shares in the company, valued at $367,690.28. This represents a 84.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Black sold 71,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $46.12, for a total transaction of $3,274,520.00. Following the sale, the director owned 71,497 shares of the company’s stock, valued at approximately $3,297,441.64. This represents a 49.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 199,694 shares of company stock worth $7,976,233 in the last 90 days. Company insiders own 1.20% of the company’s stock.
Viavi Solutions Trading Up 0.5%
VIAV opened at $30.44 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.85 and a debt-to-equity ratio of 0.27. Viavi Solutions Inc. has a 52 week low of $13.43 and a 52 week high of $60.43. The business’s 50 day moving average is $38.39 and its two-hundred day moving average is $42.86. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of -202.92 and a beta of 1.21.
Viavi Solutions (NASDAQ:VIAV – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $443.10 million during the quarter, compared to the consensus estimate of $432.62 million. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%. The company’s revenue was up 52.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. On average, research analysts predict that Viavi Solutions Inc. will post 1.42 EPS for the current year.
Viavi Solutions Profile
Viavi Solutions Inc (NASDAQ: VIAV) develops equipment, software and services used to test, monitor and secure communications networks. Its solutions support network operators, equipment manufacturers, government agencies and other organizations involved in the design, deployment and operation of wired and wireless networks.
The company’s products include fiber-optic and broadband test instruments, network performance and service-assurance software, optical spectrum analyzers, monitoring systems and tools for testing 5G and other advanced communications technologies.
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