2,825,602 Shares in Viavi Solutions Inc. $VIAV Bought by Bank of America Corp DE

Bank of America Corp DE purchased a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,825,602 shares of the communications equipment provider's stock, valued at approximately $134,922,000. Bank of America Corp DE owned 1.21% of Viavi Solutions at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VIAV. WPG Advisers LLC increased its position in Viavi Solutions by 96.2% during the 1st quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider's stock worth $26,000 after purchasing an additional 380 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in Viavi Solutions by 83.2% during the second quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider's stock valued at $41,000 after buying an additional 387 shares in the last quarter. Silvant Capital Management LLC purchased a new stake in Viavi Solutions during the second quarter worth approximately $33,000. Persistent Asset Partners Ltd purchased a new stake in Viavi Solutions during the second quarter worth approximately $38,000. Finally, Trust Point Inc. increased its position in shares of Viavi Solutions by 8.0% in the second quarter. Trust Point Inc. now owns 12,177 shares of the communications equipment provider's stock worth $581,000 after acquiring an additional 901 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Price Performance

Shares of VIAV opened at $34.74 on Friday. Viavi Solutions Inc. has a 52 week low of $12.05 and a 52 week high of $60.43. The company has a current ratio of 1.85, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of -231.58 and a beta of 1.22. The stock has a 50 day moving average of $38.37 and a 200-day moving average of $41.70.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The business had revenue of $443.10 million for the quarter, compared to analyst estimates of $432.62 million. During the same period in the prior year, the company posted $0.13 EPS. The business's revenue was up 52.5% compared to the same quarter last year. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, analysts forecast that Viavi Solutions Inc. will post 1.32 EPS for the current year.

Insider Buying and Selling at Viavi Solutions

In other news, EVP Paul McNab sold 11,032 shares of the firm's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $38.97, for a total value of $429,917.04. Following the transaction, the executive vice president directly owned 25,639 shares in the company, valued at approximately $999,151.83. This trade represents a 30.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ilan Daskal sold 56,290 shares of Viavi Solutions stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the completion of the transaction, the executive vice president directly owned 10,132 shares of the company's stock, valued at $367,690.28. This trade represents a 84.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 163,828 shares of company stock worth $6,676,449 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on VIAV shares. Weiss Ratings lowered shares of Viavi Solutions from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, September 8th. Wall Street Zen downgraded Viavi Solutions from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $70.00 price target on shares of Viavi Solutions in a report on Wednesday, August 19th. Needham & Company LLC reduced their price objective on shares of Viavi Solutions from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Finally, Stifel Nicolaus increased their price objective on shares of Viavi Solutions from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.43.

Viavi Solutions Profile

Viavi Solutions Inc NASDAQ: VIAV develops test, measurement, and assurance technologies for communications networks and optical systems. Its products and software help telecommunications providers, network equipment manufacturers, data centers, government organizations, and other enterprises build, validate, monitor, and maintain wired and wireless networks.

The company's offerings include instruments and software for fiber-optic testing, network installation and certification, service activation, network performance monitoring, troubleshooting, and telecommunications equipment testing.

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