California State Teachers Retirement System Has $609.93 Million Stock Position in Viavi Solutions Inc. $VIAV

Key Points

• California State Teachers Retirement System increased its Viavi Solutions position by 4,790.6% in the second quarter, holding 12.77 million shares worth approximately $609.93 million, or 5.18% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and $55.43 target price, despite several firms lowering their individual price targets.
• Viavi reported quarterly EPS of $0.34, beating estimates of $0.30, while revenue rose 52.5% year over year to $443.1 million. The stock opened at $33.82, down 12.7%, and insiders have sold approximately $6.68 million worth of shares over the past three months.

California State Teachers Retirement System grew its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 4,790.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,773,316 shares of the communications equipment provider's stock after acquiring an additional 12,512,136 shares during the period. California State Teachers Retirement System owned 5.18% of Viavi Solutions worth $609,926,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Silvant Capital Management LLC acquired a new position in Viavi Solutions in the 2nd quarter valued at approximately $33,000. WPG Advisers LLC lifted its stake in shares of Viavi Solutions by 96.2% in the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider's stock worth $26,000 after acquiring an additional 380 shares during the period. Persistent Asset Partners Ltd bought a new stake in Viavi Solutions in the second quarter valued at approximately $38,000. Carolina Wealth Advisors LLC increased its position in Viavi Solutions by 83.2% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider's stock valued at $41,000 after purchasing an additional 387 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Viavi Solutions during the 2nd quarter valued at approximately $57,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VIAV shares. Zacks Research raised shares of Viavi Solutions from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 13th. Needham & Company LLC cut their price target on shares of Viavi Solutions from $68.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. B. Riley Financial decreased their price target on Viavi Solutions from $63.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Stifel Nicolaus lifted their price objective on Viavi Solutions from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.43.

Viavi Solutions Trading Down 12.7%

NASDAQ VIAV opened at $33.82 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 1.85 and a debt-to-equity ratio of 0.27. Viavi Solutions Inc. has a 52 week low of $11.96 and a 52 week high of $60.43. The business has a 50 day moving average price of $38.79 and a 200-day moving average price of $41.61. The company has a market cap of $8.35 billion, a price-to-earnings ratio of -225.45 and a beta of 1.22.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The business had revenue of $443.10 million during the quarter, compared to the consensus estimate of $432.62 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company's quarterly revenue was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, equities analysts expect that Viavi Solutions Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, EVP Paul McNab sold 11,032 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $38.97, for a total value of $429,917.04. Following the completion of the sale, the executive vice president directly owned 25,639 shares of the company's stock, valued at $999,151.83. This trade represents a 30.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ilan Daskal sold 56,290 shares of the business's stock in a transaction on Monday, August 31st. The shares were sold at an average price of $36.29, for a total value of $2,042,764.10. Following the completion of the sale, the executive vice president owned 10,132 shares in the company, valued at approximately $367,690.28. The trade was a 84.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,828 shares of company stock valued at $6,676,449 in the last three months. Insiders own 1.80% of the company's stock.

Viavi Solutions Company Profile

Viavi Solutions Inc NASDAQ: VIAV develops test, measurement, and assurance technologies for communications networks and optical systems. Its products and software help telecommunications providers, network equipment manufacturers, data centers, government organizations, and other enterprises build, validate, monitor, and maintain wired and wireless networks.

The company's offerings include instruments and software for fiber-optic testing, network installation and certification, service activation, network performance monitoring, troubleshooting, and telecommunications equipment testing.

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