Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Avantax Advisory Services Inc.

Key Points

• Avantax Advisory Services Inc. reduced its position in Viavi Solutions Inc. by 55.4%, now holding 65,359 shares valued at approximately $731,000.
• Director Richard Belluzzo sold 8,385 shares of Viavi Solutions, marking a 3.34% decrease in his position, following a recent trend of insider transactions.
• Wall Street analysts have mixed views on Viavi Solutions, with a consensus rating of "Moderate Buy" and an average price target of $12.69.

Avantax Advisory Services Inc. lessened its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 55.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,359 shares of the communications equipment provider's stock after selling 81,277 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Viavi Solutions were worth $731,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VIAV. Wakefield Asset Management LLLP bought a new position in shares of Viavi Solutions during the first quarter valued at approximately $1,098,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Viavi Solutions in the 1st quarter worth about $762,000. Allianz Asset Management GmbH grew its stake in Viavi Solutions by 33.5% in the 1st quarter. Allianz Asset Management GmbH now owns 797,977 shares of the communications equipment provider's stock worth $8,929,000 after acquiring an additional 200,415 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in Viavi Solutions in the first quarter valued at approximately $1,469,000. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of Viavi Solutions by 4.6% during the first quarter. Segall Bryant & Hamill LLC now owns 1,732,227 shares of the communications equipment provider's stock worth $19,384,000 after buying an additional 76,572 shares during the period. Institutional investors own 95.54% of the company's stock.

Viavi Solutions Trading Up 0.6%

Viavi Solutions stock traded up $0.07 during trading hours on Thursday, reaching $10.11. The company had a trading volume of 1,260,342 shares, compared to its average volume of 2,144,710. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 506.50 and a beta of 0.87. Viavi Solutions Inc. has a 12-month low of $7.05 and a 12-month high of $12.91. The company has a 50-day moving average price of $9.86 and a 200 day moving average price of $10.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32.

Insiders Place Their Bets

In other news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total value of $84,017.70. Following the completion of the transaction, the director owned 242,311 shares in the company, valued at approximately $2,427,956.22. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VIAV. Wall Street Zen raised shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a research report on Friday, May 2nd. UBS Group reduced their price objective on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Rosenblatt Securities reissued a "buy" rating and set a $13.50 price objective on shares of Viavi Solutions in a report on Friday, June 20th. Finally, B. Riley lowered their target price on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.69.

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.