Bank of New York Mellon Corp Invests $87.91 Million in Viavi Solutions Inc. $VIAV

Key Points

• Bank of New York Mellon acquired 1.84 million Viavi Solutions shares worth approximately $87.9 million, representing about 0.79% of the company. Institutional investors collectively own 95.54% of VIAV.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $49.88, although individual targets range from $60 to $66 and some ratings were lowered.
• Viavi exceeded quarterly expectations, reporting $0.34 EPS versus $0.30 expected and $443.1 million in revenue, up 52.5% year over year. Shares opened at $36.95, while recent insiders sold stock, including a director’s $3.27 million transaction.

Bank of New York Mellon Corp bought a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,841,134 shares of the communications equipment provider's stock, valued at approximately $87,914,000. Bank of New York Mellon Corp owned about 0.79% of Viavi Solutions as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in VIAV. Capital World Investors increased its position in shares of Viavi Solutions by 4.4% in the fourth quarter. Capital World Investors now owns 15,620,410 shares of the communications equipment provider's stock valued at $278,356,000 after acquiring an additional 664,956 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Viavi Solutions by 3.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,846,226 shares of the communications equipment provider's stock worth $86,875,000 after purchasing an additional 231,570 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Viavi Solutions by 0.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,673,145 shares of the communications equipment provider's stock worth $118,915,000 after purchasing an additional 33,463 shares during the period. Geode Capital Management LLC boosted its stake in shares of Viavi Solutions by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 5,351,211 shares of the communications equipment provider's stock valued at $95,373,000 after purchasing an additional 20,776 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Viavi Solutions by 116.0% during the 4th quarter. Invesco Ltd. now owns 3,809,513 shares of the communications equipment provider's stock valued at $67,886,000 after purchasing an additional 2,045,702 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on VIAV. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. Zacks Research upgraded Viavi Solutions from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. Susquehanna lifted their price target on Viavi Solutions from $65.00 to $66.00 and gave the company a "positive" rating in a research report on Wednesday, July 1st. Weiss Ratings cut Viavi Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC decreased their price objective on Viavi Solutions from $68.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $49.88.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $36.95 on Tuesday. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of -246.32 and a beta of 1.22. The firm's 50-day moving average is $42.05 and its 200 day moving average is $40.57. Viavi Solutions Inc. has a 1 year low of $10.91 and a 1 year high of $60.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.85 and a quick ratio of 1.62.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The business had revenue of $443.10 million during the quarter, compared to analyst estimates of $432.62 million. During the same period last year, the business earned $0.13 EPS. Viavi Solutions'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. Sell-side analysts anticipate that Viavi Solutions Inc. will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, Director Laura A. Black sold 71,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $46.12, for a total transaction of $3,274,520.00. Following the transaction, the director owned 71,497 shares in the company, valued at approximately $3,297,441.64. This represents a 49.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul Mcnab sold 1,595 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $37.37, for a total transaction of $59,605.15. Following the sale, the executive vice president directly owned 13,876 shares in the company, valued at approximately $518,546.12. The trade was a 10.31% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by insiders.

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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