California State Teachers Retirement System Boosts Stake in Viavi Solutions Inc. $VIAV

Key Points

• California State Teachers Retirement System increased its Viavi Solutions stake by 23.8% in the first quarter, bringing its holdings to 261,180 shares valued at approximately $8.7 million.
• Institutional investors own 95.54% of Viavi’s stock, with several major funds—including Arrowstreet Capital, Invesco and Marshall Wace—also substantially increasing their positions.
• Analysts maintain a generally positive outlook, with six Buy ratings and a consensus “Moderate Buy” rating; the average price target is $42.88, while targets range as high as $70.

California State Teachers Retirement System boosted its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 23.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 261,180 shares of the communications equipment provider's stock after acquiring an additional 50,187 shares during the quarter. California State Teachers Retirement System owned 0.11% of Viavi Solutions worth $8,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VIAV. Arrowstreet Capital Limited Partnership grew its holdings in shares of Viavi Solutions by 431.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 6,639,682 shares of the communications equipment provider's stock worth $84,258,000 after purchasing an additional 5,389,435 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Viavi Solutions in the first quarter worth approximately $75,294,000. Invesco Ltd. raised its stake in Viavi Solutions by 116.0% in the fourth 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. Marshall Wace LLP raised its stake in Viavi Solutions by 1,011.9% in the fourth quarter. Marshall Wace LLP now owns 2,187,600 shares of the communications equipment provider's stock valued at $38,983,000 after purchasing an additional 1,990,848 shares in the last quarter. Finally, Bowen Hanes & Co. Inc. bought a new stake in Viavi Solutions during the fourth quarter valued at approximately $33,323,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Stock Up 6.8%

Shares of VIAV opened at $40.32 on Wednesday. Viavi Solutions Inc. has a 1 year low of $9.85 and a 1 year high of $60.43. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.39. The stock has a 50 day simple moving average of $44.82 and a two-hundred day simple moving average of $38.66. The firm has a market cap of $9.43 billion, a P/E ratio of -167.99 and a beta of 1.21.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VIAV. UBS Group boosted their price target on shares of Viavi Solutions from $25.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. B. Riley Financial lifted their price objective on shares of Viavi Solutions from $26.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Wall Street Zen raised shares of Viavi Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Rosenblatt Securities reiterated a "buy" rating and issued a $70.00 target price on shares of Viavi Solutions in a research report on Wednesday, June 10th. Finally, Susquehanna increased their target price on Viavi Solutions from $65.00 to $66.00 and gave the company a "positive" rating in a research note on Wednesday, July 1st. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.88.

Insider Buying and Selling at Viavi Solutions

In other news, 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 of the company's stock, valued at approximately $61,603,512.36. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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