367,441 Shares in Viavi Solutions Inc. $VIAV Acquired by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management opened a new position in Viavi Solutions, buying 367,441 shares valued at about $12.2 million in the first quarter and owning roughly 0.16% of the company.
• Several other institutional investors also increased or initiated positions, and hedge funds and other institutions now own 95.54% of Viavi’s shares.
• Viavi reported stronger-than-expected quarterly results, with EPS of $0.27 and revenue of $406.8 million, while analysts currently rate the stock a Moderate Buy with a consensus price target of $42.75.

Peregrine Capital Management LLC purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 367,441 shares of the communications equipment provider's stock, valued at approximately $12,228,000. Peregrine Capital Management LLC owned approximately 0.16% of Viavi Solutions as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VIAV. Royal Bank of Canada lifted its position in shares of Viavi Solutions by 11.5% during the 1st quarter. Royal Bank of Canada now owns 183,320 shares of the communications equipment provider's stock worth $2,051,000 after purchasing an additional 18,910 shares during the last quarter. AQR Capital Management LLC increased its holdings in Viavi Solutions by 110.5% in the first quarter. AQR Capital Management LLC now owns 33,663 shares of the communications equipment provider's stock valued at $377,000 after buying an additional 17,673 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Viavi Solutions by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,061 shares of the communications equipment provider's stock valued at $1,467,000 after buying an additional 5,775 shares in the last quarter. Millennium Management LLC lifted its holdings in Viavi Solutions by 205.4% during the 1st quarter. Millennium Management LLC now owns 476,767 shares of the communications equipment provider's stock worth $5,335,000 after buying an additional 320,662 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Viavi Solutions during the 1st quarter worth about $165,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kevin Christopher Siebert sold 8,255 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $54.02, for a total value of $445,935.10. Following the completion of the sale, the senior vice president owned 20,129 shares in the company, valued at $1,087,368.58. This represents a 29.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 10,693 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $53.00, for a total transaction of $566,729.00. Following the completion of the sale, the senior vice president owned 39,287 shares of the company's stock, valued at approximately $2,082,211. This trade represents a 21.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 450,369 shares of company stock valued at $23,789,119 in the last 90 days. Company insiders own 1.80% of the company's stock.

Viavi Solutions Stock Up 0.7%

VIAV opened at $47.75 on Wednesday. Viavi Solutions Inc. has a one year low of $9.61 and a one year high of $60.43. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.39 and a current ratio of 1.61. The stock has a market capitalization of $11.17 billion, a P/E ratio of -198.95 and a beta of 1.18. The business's 50-day simple moving average is $49.59 and its 200-day simple moving average is $34.80.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.03. The firm had revenue of $406.80 million during the quarter, compared to analysts' expectations of $393.80 million. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.The business's revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. Analysts anticipate that Viavi Solutions Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

VIAV has been the topic of several research analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $70.00 target price on shares of Viavi Solutions in a research report on Wednesday, June 10th. B. Riley Financial upped their price target on Viavi Solutions from $26.00 to $53.00 and gave the company a "buy" rating in a report on Friday, April 24th. Wall Street Zen upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of Viavi Solutions from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Finally, UBS Group boosted their price objective on shares of Viavi Solutions from $25.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.75.

Viavi Solutions Profile

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi's product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.

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