GAMMA Investing LLC Buys 36,457 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

GAMMA Investing LLC boosted its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 1,429.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 39,008 shares of the communications equipment provider's stock after buying an additional 36,457 shares during the period. GAMMA Investing LLC's holdings in Viavi Solutions were worth $436,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of VIAV. Amundi grew its position in shares of Viavi Solutions by 185.5% during the 4th quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock worth $1,132,000 after purchasing an additional 72,599 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Viavi Solutions by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock worth $33,682,000 after purchasing an additional 139,934 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after purchasing an additional 7,434 shares in the last quarter. Marshall Wace LLP grew its position in shares of Viavi Solutions by 201.2% during the 4th quarter. Marshall Wace LLP now owns 49,200 shares of the communications equipment provider's stock worth $497,000 after purchasing an additional 32,867 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Viavi Solutions by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider's stock worth $10,864,000 after purchasing an additional 29,621 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VIAV. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a research report on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a research report on Friday. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group cut their price target on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Morgan Stanley cut their price target 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. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.69.

Viavi Solutions Price Performance

Shares of Viavi Solutions stock traded up $0.22 on Monday, reaching $9.62. 1,712,121 shares of the stock were exchanged, compared to its average volume of 1,937,290. The firm has a market cap of $2.15 billion, a PE ratio of 481.24 and a beta of 0.87. 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 firm's 50 day moving average is $9.51 and its 200-day moving average is $10.39. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $12.91.

Insider Activity at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total value of $74,794.20. Following the completion of the transaction, the director now owns 259,081 shares of the company's stock, valued at $2,311,002.52. This represents a 3.13% 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 owned by insiders.

Viavi Solutions Company 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.