27,640 Shares in Viavi Solutions Inc. (NASDAQ:VIAV) Bought by MQS Management LLC

MQS Management LLC acquired a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) in the 1st quarter, HoldingsChannel reports. The fund acquired 27,640 shares of the communications equipment provider’s stock, valued at approximately $251,000.

Several other large investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Viavi Solutions during the 4th quarter worth about $24,608,000. Westwood Holdings Group Inc. lifted its holdings in shares of Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider’s stock worth $66,193,000 after acquiring an additional 1,103,687 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Viavi Solutions by 98.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,070,353 shares of the communications equipment provider’s stock worth $18,820,000 after acquiring an additional 1,025,987 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Viavi Solutions by 15.6% during the 4th quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider’s stock worth $53,592,000 after acquiring an additional 718,004 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Viavi Solutions by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider’s stock worth $166,796,000 after acquiring an additional 638,309 shares during the period. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV traded up $0.10 during trading on Friday, hitting $7.69. 138,965 shares of the company’s stock were exchanged, compared to its average volume of 1,883,070. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The firm has a 50-day moving average price of $7.40 and a two-hundred day moving average price of $8.57. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same period in the previous year, the business earned $0.02 EPS. The firm’s revenue was down .7% compared to the same quarter last year. As a group, analysts expect that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $7.35, for a total value of $35,000.70. Following the transaction, the executive vice president now owns 49,777 shares of the company’s stock, valued at $365,860.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 14,985 shares of company stock valued at $109,969. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 target price on shares of Viavi Solutions in a research report on Monday, April 1st. Susquehanna cut shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Friday, May 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Rosenblatt Securities cut shares of Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.65.

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.