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

Edgestream Partners L.P. lowered its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 73.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of VIAV. Raymond James Financial Inc. bought a new stake in Viavi Solutions in the 4th quarter valued at about $718,000. Swiss National Bank boosted its holdings in Viavi Solutions by 0.6% in the 4th quarter. Swiss National Bank now owns 438,400 shares of the communications equipment provider's stock valued at $4,428,000 after purchasing an additional 2,600 shares during the period. Natixis Advisors LLC boosted its holdings in Viavi Solutions by 22.7% in the 4th quarter. Natixis Advisors LLC now owns 80,246 shares of the communications equipment provider's stock valued at $810,000 after purchasing an additional 14,853 shares during the period. Cibc World Markets Corp bought a new stake in Viavi Solutions in the 4th quarter valued at about $208,000. Finally, Xponance Inc. boosted its holdings in Viavi Solutions by 11.5% in the 4th quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider's stock valued at $161,000 after purchasing an additional 1,649 shares during the period. Institutional investors own 95.54% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on VIAV shares. Morgan Stanley cut their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of Viavi Solutions in a research report on Friday, May 2nd. B. Riley reduced their price target on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. UBS Group reduced their price target on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $13.50 price target on shares of Viavi Solutions in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, two have given 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $12.69.

Viavi Solutions Price Performance

NASDAQ:VIAV traded down $0.14 on Thursday, hitting $10.17. The company had a trading volume of 1,312,857 shares, compared to its average volume of 1,864,256. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 508.75 and a beta of 0.88. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $9.70 and a two-hundred day 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 that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the completion of the transaction, the director owned 242,311 shares of the company's stock, valued at $2,427,956.22. This represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is currently owned by insiders.

Viavi Solutions Profile

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.