Teachers Retirement System of The State of Kentucky Acquires 192,741 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Teachers Retirement System of The State of Kentucky increased its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 260.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 266,641 shares of the communications equipment provider’s stock after purchasing an additional 192,741 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Viavi Solutions were worth $2,693,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC grew its stake in shares of Viavi Solutions by 4.4% in the third quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider’s stock worth $4,856,000 after acquiring an additional 22,893 shares during the period. Sanctuary Advisors LLC grew its position in Viavi Solutions by 44.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock worth $144,000 after purchasing an additional 4,875 shares during the period. JPMorgan Chase & Co. raised its stake in Viavi Solutions by 39.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 545,446 shares of the communications equipment provider’s stock valued at $4,920,000 after buying an additional 153,745 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Viavi Solutions by 5.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock valued at $442,000 after buying an additional 2,277 shares during the period. Finally, Moody National Bank Trust Division purchased a new position in shares of Viavi Solutions in the 4th quarter worth $651,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Performance

VIAV opened at $10.30 on Friday. The company has a 50 day simple moving average of $10.80 and a two-hundred day simple moving average of $10.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The firm has a market cap of $2.29 billion, a P/E ratio of -57.22 and a beta of 0.89. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on VIAV shares. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, January 31st. B. Riley upped their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley dropped their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 target price (up from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Finally, Argus lifted their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.28.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, SVP James L. Veler, Jr. sold 13,807 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 14,323 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the transaction, the senior vice president now directly owns 55,877 shares in the company, valued at $628,057.48. This trade represents a 20.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,164 shares of company stock worth $411,122. 1.52% of the stock is owned by corporate insiders.

Viavi Solutions 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.