Adage Capital Partners GP L.L.C. Decreases Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Adage Capital Partners GP L.L.C. cut its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 34.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,455,590 shares of the communications equipment provider's stock after selling 780,612 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.66% of Viavi Solutions worth $14,701,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in VIAV. Wellington Management Group LLP increased its position in Viavi Solutions by 26.3% during the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock valued at $198,108,000 after purchasing an additional 4,085,648 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Viavi Solutions by 1.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider's stock worth $106,297,000 after buying an additional 171,746 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Viavi Solutions by 1.6% in the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock worth $70,972,000 after buying an additional 112,978 shares during the period. Dimensional Fund Advisors LP boosted its position in Viavi Solutions by 10.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock valued at $64,626,000 after acquiring an additional 620,773 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Viavi Solutions by 14.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider's stock valued at $35,106,000 after acquiring an additional 435,265 shares in the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VIAV has been the topic of a number of research reports. Argus boosted their target price on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. StockNews.com cut shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. B. Riley raised their target price on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. UBS Group boosted their price target on Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions presently has an average rating of "Moderate Buy" and an average price target of $12.28.

Insider Activity

In other news, EVP Paul Mcnab sold 9,034 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the transaction, the executive vice president now owns 38,775 shares of the company's stock, valued at $430,014.75. This trade represents a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James L. Veler, Jr. sold 13,807 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. Insiders have sold 37,164 shares of company stock valued at $411,122 in the last ninety days. 1.52% of the stock is currently owned by company insiders.

Viavi Solutions Stock Performance

NASDAQ:VIAV traded up $0.05 during mid-day trading on Wednesday, reaching $10.58. The company's stock had a trading volume of 2,263,971 shares, compared to its average volume of 1,774,401. The firm's fifty day moving average price is $10.71 and its two-hundred day moving average price is $10.51. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The stock has a market cap of $2.35 billion, a P/E ratio of -58.77 and a beta of 0.89. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91.

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.