Commerce Bank Sells 1,495 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Commerce Bank lowered its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,480 shares of the communications equipment provider’s stock after selling 1,495 shares during the quarter. Commerce Bank’s holdings in Viavi Solutions were worth $374,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in VIAV. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions during the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in Viavi Solutions in the 2nd quarter valued at $38,000. Quarry LP grew its position in Viavi Solutions by 419.7% in the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 5,838 shares during the period. Summit Securities Group LLC acquired a new position in Viavi Solutions during the second quarter worth $52,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Viavi Solutions during the second quarter valued at $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Stock Performance

Shares of NASDAQ:VIAV opened at $10.19 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The stock has a market capitalization of $2.26 billion, a P/E ratio of -59.94 and a beta of 0.90. The business has a 50-day moving average price of $9.38 and a two-hundred day moving average price of $8.26.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share 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 business had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same period in the previous year, the firm posted $0.05 earnings per share. Viavi Solutions’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on VIAV shares. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, November 1st. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. UBS Group assumed coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target for the company. Northland Securities upped their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lowered their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $10.44.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the 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 transaction, the director now owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the transaction, the senior vice president now owns 56,617 shares of the company’s stock, valued at $488,604.71. The trade was a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,381 shares of company stock worth $562,279 in the last three months. Insiders own 1.52% of the company’s stock.

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.