Bank of New York Mellon Corp Lowers Stake in Viavi Solutions Inc. $VIAV

Bank of New York Mellon Corp cut its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 15.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,830,249 shares of the communications equipment provider's stock after selling 336,935 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of Viavi Solutions worth $60,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its position in Viavi Solutions by 4.4% during the fourth quarter. Capital World Investors now owns 15,620,410 shares of the communications equipment provider's stock worth $278,356,000 after purchasing an additional 664,956 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Viavi Solutions by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 6,846,226 shares of the communications equipment provider's stock valued at $86,875,000 after buying an additional 231,570 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Viavi Solutions by 0.5% during 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 buying an additional 33,463 shares during the period. Geode Capital Management LLC raised 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 worth $95,373,000 after buying an additional 20,776 shares during the period. Finally, Invesco Ltd. lifted its position 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 buying an additional 2,045,702 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VIAV. Rosenblatt Securities reissued a "buy" rating and issued a $70.00 price target on shares of Viavi Solutions in a report on Wednesday, June 10th. Susquehanna increased their price objective on shares of Viavi Solutions from $65.00 to $66.00 and gave the company a "positive" rating in a report on Wednesday, July 1st. UBS Group lifted their target price on shares of Viavi Solutions from $25.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. B. Riley Financial boosted their target price on shares of Viavi Solutions from $26.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Finally, Weiss Ratings downgraded shares of Viavi Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, July 16th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.88.

Viavi Solutions Stock Down 1.8%

NASDAQ VIAV opened at $42.25 on Thursday. The business has a fifty day moving average price of $47.16 and a 200 day moving average price of $37.43. 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 company has a market cap of $9.88 billion, a P/E ratio of -176.03 and a beta of 1.18. Viavi Solutions Inc. has a one year low of $9.61 and a one year high of $60.43.

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, topping the consensus estimate of $0.24 by $0.03. Viavi Solutions had a negative net margin of 4.03% and a positive return on equity of 16.80%. The company had revenue of $406.80 million for the quarter, compared to analysts' expectations of $393.80 million. During the same quarter in the previous year, the company posted $0.15 EPS. The firm's quarterly revenue was up 42.8% on a year-over-year basis. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. Research analysts anticipate that Viavi Solutions Inc. will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viavi Solutions news, Director Doug Gilstrap sold 10,000 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the director directly owned 55,766 shares of the company's stock, valued at $3,067,130. This trade represents a 15.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke M. Scrivanich sold 10,693 shares of Viavi Solutions 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 transaction, the senior vice president owned 39,287 shares in the company, valued at approximately $2,082,211. This represents a 21.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 450,369 shares of company stock valued at $23,789,119. Insiders own 1.80% of the company's stock.

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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