State of Alaska Department of Revenue reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 16.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,247 shares of the communications equipment provider’s stock after selling 34,962 shares during the period. State of Alaska Department of Revenue’s holdings in Viavi Solutions were worth $2,669,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of VIAV. First Trust Advisors LP boosted its position in shares of Viavi Solutions by 41.0% in the 1st quarter. First Trust Advisors LP now owns 355,406 shares of the communications equipment provider’s stock worth $4,400,000 after purchasing an additional 103,260 shares during the last quarter. First Republic Investment Management Inc. bought a new position in Viavi Solutions during the second quarter worth about $165,000. Cubist Systematic Strategies LLC lifted its holdings in Viavi Solutions by 24.7% during the second quarter. Cubist Systematic Strategies LLC now owns 103,241 shares of the communications equipment provider’s stock worth $1,315,000 after acquiring an additional 20,468 shares in the last quarter. Private Advisor Group LLC bought a new position in Viavi Solutions during the second quarter worth about $25,000. Finally, Jane Street Group LLC bought a new position in Viavi Solutions during the second quarter worth about $428,000. Institutional investors and hedge funds own 94.68% of the company’s stock.
Several research analysts have weighed in on the company. Morgan Stanley lifted their target price on Viavi Solutions from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 15th. Needham & Company LLC lifted their price target on Viavi Solutions from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday. TheStreet downgraded Viavi Solutions from a “b-” rating to a “c” rating in a research note on Thursday, September 24th. Zacks Investment Research downgraded Viavi Solutions from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research note on Thursday, January 7th. Finally, BidaskClub raised Viavi Solutions from a “sell” rating to a “hold” rating in a research note on Wednesday, December 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Viavi Solutions presently has an average rating of “Buy” and an average target price of $16.44.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, November 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $284.70 million for the quarter, compared to the consensus estimate of $276.57 million. Viavi Solutions had a return on equity of 18.00% and a net margin of 2.53%. Viavi Solutions’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. As a group, equities analysts predict that Viavi Solutions Inc. will post 0.52 earnings per share for the current fiscal year.
In other Viavi Solutions news, CEO Oleg Khaykin sold 160,892 shares of the business’s stock in a transaction that occurred on Wednesday, November 18th. The stock was sold at an average price of $13.61, for a total transaction of $2,189,740.12. Following the transaction, the chief executive officer now owns 691,581 shares of the company’s stock, valued at $9,412,417.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Paul Mcnab sold 12,248 shares of the business’s stock in a transaction that occurred on Wednesday, December 9th. The stock was sold at an average price of $13.88, for a total value of $170,002.24. Following the transaction, the executive vice president now directly owns 48,345 shares in the company, valued at approximately $671,028.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,795 shares of company stock worth $2,529,073. 1.10% of the stock is owned by company insiders.
Viavi Solutions Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, civil, military, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.
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