Avantax Advisory Services Inc. Cuts Position in Viavi Solutions Inc. (NASDAQ:VIAV)

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. decreased its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 55.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

A number of other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in Viavi Solutions in the first quarter valued at approximately $53,000. First Horizon Advisors Inc. lifted its position in shares of Viavi Solutions by 29.1% during the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock worth $56,000 after buying an additional 1,138 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 6,171 shares in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Viavi Solutions by 64.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after buying an additional 3,684 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Viavi Solutions in the 4th quarter valued at $135,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Insider Buying and Selling at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the transaction, the director directly owned 242,311 shares in the company, valued at $2,427,956.22. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VIAV shares. Rosenblatt Securities reissued a "buy" rating and issued a $13.50 price target on shares of Viavi Solutions in a research report on Friday, June 20th. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group decreased their target price on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. B. Riley dropped their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.69.

Viavi Solutions Trading Down 2.9%

Shares of VIAV stock opened at $9.76 on Monday. The company has a market capitalization of $2.18 billion, a P/E ratio of 488.24 and a beta of 0.87. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. The business's 50 day moving average is $9.81 and its two-hundred day moving average is $10.36. Viavi Solutions Inc. has a twelve month low of $7.03 and a twelve month high of $12.91.

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.

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