Edgestream Partners L.P. Sells 89,620 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Edgestream Partners L.P. decreased its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 73.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,999 shares of the communications equipment provider's stock after selling 89,620 shares during the period. Edgestream Partners L.P.'s holdings in Viavi Solutions were worth $358,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Viavi Solutions by 26.3% during the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock valued at $198,108,000 after purchasing an additional 4,085,648 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Viavi Solutions by 1.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider's stock worth $106,297,000 after acquiring an additional 171,746 shares during the last quarter. Schroder Investment Management Group boosted its stake in Viavi Solutions by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock valued at $70,972,000 after buying an additional 112,978 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Viavi Solutions by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock worth $64,626,000 after acquiring an additional 620,773 shares in the last quarter. Finally, Woodline Partners LP lifted its position in Viavi Solutions by 423.7% in the fourth quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock worth $34,700,000 after buying an additional 2,779,615 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

Viavi Solutions Trading Up 1.1%

Shares of VIAV traded up $0.12 during midday trading on Wednesday, hitting $10.37. 466,474 shares of the stock were exchanged, compared to its average volume of 1,919,270. The firm has a market cap of $2.31 billion, a P/E ratio of 518.01 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53. The stock has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $10.36. Viavi Solutions Inc. has a 52-week low of $7.03 and a 52-week high of $12.91.

Insider Buying and Selling

In related news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction on Tuesday, July 1st. The stock was 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 of the company's stock, valued at approximately $2,427,956.22. This trade represents a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

VIAV has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $13.50 price target on shares of Viavi Solutions in a research report on Friday, June 20th. UBS Group lowered their price objective on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, B. Riley cut their target price on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.69.

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.