Assenagon Asset Management S.A. Sells 1,130,653 Shares of Viavi Solutions Inc. $VIAV

Key Points

• Assenagon Asset Management cut its Viavi Solutions stake by 72.6% in the first quarter, selling 1,130,653 shares and ending with 427,600 shares worth about $14.2 million.
• Viavi insiders also sold stock, including SVP Luke M. Scrivanich and CEO Oleg Khaykin; insiders have sold 450,369 shares worth $23.8 million over the last 90 days.
• Viavi beat quarterly expectations with EPS of $0.27 on revenue of $406.8 million, and analysts currently hold a Moderate Buy consensus with an average target price of $42.75.

Assenagon Asset Management S.A. lessened its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 72.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 427,600 shares of the communications equipment provider's stock after selling 1,130,653 shares during the period. Assenagon Asset Management S.A. owned approximately 0.18% of Viavi Solutions worth $14,231,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Viavi Solutions by 133.8% in the 1st quarter. SG Americas Securities LLC now owns 109,753 shares of the communications equipment provider's stock valued at $3,653,000 after buying an additional 62,810 shares during the last quarter. Hsbc Holdings PLC bought a new position in Viavi Solutions during the fourth quarter worth $218,000. Corient Private Wealth LLC increased its position in Viavi Solutions by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 11,400 shares of the communications equipment provider's stock worth $204,000 after acquiring an additional 394 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Viavi Solutions during the fourth quarter worth $169,000. Finally, Dean Capital Management raised its stake in Viavi Solutions by 10.3% during the 4th quarter. Dean Capital Management now owns 221,405 shares of the communications equipment provider's stock valued at $3,945,000 after purchasing an additional 20,686 shares during the last quarter. Institutional investors own 95.54% of the company's stock.

Insiders Place Their Bets

In related news, SVP Luke M. Scrivanich sold 10,693 shares of the business's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $53.00, for a total value of $566,729.00. Following the sale, the senior vice president owned 39,287 shares of the company's stock, valued at $2,082,211. The trade was a 21.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Oleg Khaykin sold 136,547 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $51.82, for a total value of $7,075,865.54. Following the completion of the sale, the chief executive officer owned 1,188,798 shares in the company, valued at $61,603,512.36. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 450,369 shares of company stock worth $23,789,119 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Viavi Solutions Price Performance

Shares of Viavi Solutions stock opened at $47.63 on Friday. The firm has a market cap of $11.14 billion, a P/E ratio of -198.45 and a beta of 1.18. The firm's 50-day simple moving average is $49.40 and its 200-day simple moving average is $34.29. Viavi Solutions Inc. has a twelve month low of $9.61 and a twelve month 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.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VIAV. Wall Street Zen upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Weiss Ratings upgraded shares of Viavi Solutions from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. 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. UBS Group boosted their price target on Viavi Solutions from $25.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Finally, B. Riley Financial boosted their price target on Viavi Solutions from $26.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Viavi Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.75.

About Viavi Solutions

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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