Boothbay Fund Management LLC Invests $358,000 in Viavi Solutions Inc. (NASDAQ:VIAV)

Boothbay Fund Management LLC purchased a new stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,489 shares of the communications equipment provider's stock, valued at approximately $358,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Picton Mahoney Asset Management boosted its position in shares of Viavi Solutions by 35.0% during the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after purchasing an additional 833 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 6,171 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at about $75,000. Smartleaf Asset Management LLC boosted its holdings in Viavi Solutions by 836.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after buying an additional 7,434 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in Viavi Solutions by 64.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock worth $95,000 after buying an additional 3,684 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 9,034 shares of Viavi Solutions 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 completion of the sale, the executive vice president now owns 38,775 shares in the company, valued at $430,014.75. The trade was a 18.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders sold a total of 37,164 shares of company stock worth $411,122 over the last ninety days. 1.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VIAV shares. Morgan Stanley decreased their price target on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. B. Riley lowered their target price on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities lifted their price target on Viavi Solutions from $12.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, May 2nd. StockNews.com upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Monday. Finally, Northland Securities restated an "outperform" rating and set a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Viavi Solutions has an average rating of "Moderate Buy" and an average price target of $12.69.

Viavi Solutions Price Performance

Viavi Solutions stock traded down $0.07 during midday trading on Wednesday, reaching $8.93. 233,195 shares of the company were exchanged, compared to its average volume of 1,826,392. The firm's 50-day simple moving average is $10.55 and its 200-day simple moving average is $10.53. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $12.91. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -49.86 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55.

About Viavi Solutions

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.