Viavi Solutions Inc. (NASDAQ:VIAV) Stock Position Reduced by US Bancorp DE

US Bancorp DE decreased its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 16.1% in the third quarter, Holdings Channel reports. The institutional investor owned 19,784 shares of the communications equipment provider’s stock after selling 3,803 shares during the quarter. US Bancorp DE’s holdings in Viavi Solutions were worth $178,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in shares of Viavi Solutions during the second quarter worth $38,000. Quarry LP lifted its holdings in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions in the 2nd quarter valued at approximately $52,000. Headlands Technologies LLC acquired a new position in Viavi Solutions in the first quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC bought a new position in Viavi Solutions during the second quarter valued at approximately $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Price Performance

NASDAQ:VIAV opened at $10.06 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. The company has a 50-day moving average of $9.14 and a 200-day moving average of $8.15. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.32. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -59.18 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 8,432 shares of Viavi Solutions stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the transaction, the senior vice president now directly owns 56,617 shares of the company’s stock, valued at $488,604.71. This trade represents a 12.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the sale, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. This represents a 10.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,652 shares of company stock valued at $817,585 in the last 90 days. 1.52% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

VIAV has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. B. Riley lowered 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 report on Friday, August 9th. Stifel Nicolaus cut their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Northland Securities upped their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday. Five 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 stock. According to MarketBeat, Viavi Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $10.42.

About Viavi Solutions

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.