Illinois Municipal Retirement Fund Sells 8,237 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Illinois Municipal Retirement Fund trimmed its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,409 shares of the communications equipment provider’s stock after selling 8,237 shares during the period. Illinois Municipal Retirement Fund’s holdings in Viavi Solutions were worth $1,125,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Viavi Solutions by 14.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock worth $35,106,000 after acquiring an additional 435,265 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Viavi Solutions by 13.1% in the 4th quarter. Handelsbanken Fonder AB now owns 66,610 shares of the communications equipment provider’s stock worth $673,000 after acquiring an additional 7,700 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Viavi Solutions in the 4th quarter worth $75,000. Sanctuary Advisors LLC raised its position in shares of Viavi Solutions by 8.1% in the 4th quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Viavi Solutions by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider’s stock worth $10,864,000 after acquiring an additional 29,621 shares in the last quarter. 95.54% of the stock is owned by institutional investors.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 30,000 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the transaction, the director now owns 180,333 shares of the company’s stock, valued at approximately $1,805,133.33. This represents a 14.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Luke M. Scrivanich sold 2,802 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total value of $29,224.86. Following the completion of the transaction, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at $568,612.31. The trade was a 4.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

VIAV has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. StockNews.com downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. Northland Securities restated an “outperform” rating and set a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. B. Riley boosted their price target on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Viavi Solutions has an average rating of “Hold” and a consensus target price of $12.33.

Viavi Solutions Stock Up 0.9 %

Shares of VIAV opened at $11.18 on Monday. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $12.91. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -62.11 and a beta of 0.92. The stock’s 50-day moving average price is $10.95 and its 200-day moving average price is $9.89.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.