Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by 272 Capital LP

272 Capital LP reduced its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 90.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the communications equipment provider’s stock after selling 100,000 shares during the quarter. 272 Capital LP’s holdings in Viavi Solutions were worth $90,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its stake in shares of Viavi Solutions by 98,561.6% in the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after purchasing an additional 187,267 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after buying an additional 2,100 shares in the last quarter. Leeward Investments LLC MA increased its stake in Viavi Solutions by 17.1% during 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 buying an additional 249,554 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider’s stock worth $28,819,000 after buying an additional 217,399 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Viavi Solutions in the 3rd quarter worth approximately $105,000. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Performance

VIAV stock opened at $11.15 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.32. The company’s 50 day simple moving average is $9.80 and its 200-day simple moving average is $8.50.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. On average, equities research analysts anticipate that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VIAV. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. Rosenblatt Securities lifted their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. UBS Group began coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective for the company. Northland Securities raised their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, December 6th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions has an average rating of “Moderate Buy” and a consensus price target of $10.44.

Insiders Place Their Bets

In other news, SVP Luke M. Scrivanich sold 2,802 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the transaction, the senior vice president now directly owns 54,517 shares in the company, valued at $568,612.31. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the transaction, the director now directly owns 225,333 shares in the company, valued at approximately $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,831 shares of company stock worth $468,712. 1.52% of the stock is currently owned by company insiders.

Viavi Solutions 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.