Edgestream Partners L.P. Purchases 165,339 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Edgestream Partners L.P. grew its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 100.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 330,313 shares of the communications equipment provider’s stock after purchasing an additional 165,339 shares during the quarter. Edgestream Partners L.P.’s holdings in Viavi Solutions were worth $2,979,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Westwood Holdings Group Inc. boosted its stake in shares of Viavi Solutions by 9.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after purchasing an additional 606,522 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Viavi Solutions by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after purchasing an additional 661,450 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Viavi Solutions by 65.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock valued at $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Viavi Solutions by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock valued at $28,819,000 after purchasing an additional 217,399 shares during the last quarter. Finally, Leeward Investments LLC MA boosted its stake 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 valued at $15,385,000 after purchasing an additional 249,554 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Paul Mcnab sold 5,920 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the sale, the executive vice president now owns 34,545 shares in the company, valued at $291,905.25. This represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares of the company’s stock, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,949 shares of company stock worth $489,511 over the last quarter. Insiders own 1.52% of the company’s stock.

Viavi Solutions Stock Performance

VIAV opened at $9.94 on Monday. 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’s fifty day moving average price is $9.50 and its two-hundred day moving average price is $8.33. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. 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 (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. On average, analysts expect that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. Rosenblatt Securities increased their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research note on Friday, November 1st. UBS Group assumed coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a “neutral” rating and a $10.60 target price on the stock. Northland Securities increased their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, B. Riley cut their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Seven investment 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.44.

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.