Engineers Gate Manager LP Reduces Stock Holdings in Viavi Solutions Inc. $VIAV

Engineers Gate Manager LP lessened its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 15.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,001 shares of the communications equipment provider's stock after selling 27,822 shares during the quarter. Engineers Gate Manager LP owned approximately 0.06% of Viavi Solutions worth $7,306,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in VIAV. BlackRock Inc. acquired a new position in shares of Viavi Solutions in the second quarter worth $1,228,529,000. California State Teachers Retirement System grew its holdings in shares of Viavi Solutions by 4,790.6% during the second quarter. California State Teachers Retirement System now owns 12,773,316 shares of the communications equipment provider's stock worth $609,926,000 after buying an additional 12,512,136 shares in the last quarter. 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 buying an additional 5,389,435 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Viavi Solutions in the second quarter valued at approximately $134,922,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Viavi Solutions during the first quarter valued at approximately $75,294,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Ilan Daskal sold 56,290 shares of Viavi Solutions stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $36.29, for a total value of $2,042,764.10. Following the completion of the transaction, the executive vice president directly owned 10,132 shares in the company, valued at approximately $367,690.28. This trade represents a 84.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul McNab sold 11,032 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 25,639 shares in the company, valued at approximately $999,151.83. This represents a 30.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 163,828 shares of company stock worth $6,676,449. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on VIAV shares. Needham & Company LLC lowered their target price on shares of Viavi Solutions from $68.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Susquehanna upped 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. Weiss Ratings downgraded Viavi Solutions from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday. B. Riley Financial lowered 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. Finally, Wall Street Zen cut shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Viavi Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.43.

Viavi Solutions Trading Up 3.6%

NASDAQ:VIAV opened at $38.75 on Friday. The business's 50-day moving average is $38.96 and its two-hundred day moving average is $41.48. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.85 and a quick ratio of 1.62. Viavi Solutions Inc. has a 12 month low of $11.93 and a 12 month high of $60.43. The firm has a market capitalization of $9.56 billion, a PE ratio of -258.32 and a beta of 1.22.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $443.10 million during the quarter, compared to the consensus estimate of $432.62 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The company's revenue was up 52.5% compared to the same quarter last year. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Research analysts predict that Viavi Solutions Inc. will post 1.32 earnings per share for the current fiscal year.

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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