GW&K Investment Management LLC trimmed its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,405,174 shares of the communications equipment provider's stock after selling 73,787 shares during the quarter. GW&K Investment Management LLC owned 1.53% of Viavi Solutions worth $38,104,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Viavi Solutions during the 1st quarter worth $53,000. First Horizon Advisors Inc. boosted its stake in Viavi Solutions by 29.1% in the first quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after buying an additional 1,138 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 6,171 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Viavi Solutions by 64.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after buying an additional 3,684 shares in the last quarter. Finally, KBC Group NV boosted its stake in Viavi Solutions by 38.1% in the first quarter. KBC Group NV now owns 12,967 shares of the communications equipment provider's stock valued at $145,000 after buying an additional 3,579 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on VIAV. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. B. Riley dropped their target price on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Rosenblatt Securities reiterated a "buy" rating and issued a $13.50 target price on shares of Viavi Solutions in a research report on Friday, June 20th. Finally, UBS Group dropped their target price on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $12.69.
View Our Latest Stock Analysis on Viavi Solutions
Viavi Solutions Trading Up 0.8%
Shares of Viavi Solutions stock opened at $10.28 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53. Viavi Solutions Inc. has a 52 week low of $7.03 and a 52 week high of $12.91. The stock has a 50 day moving average price of $9.64 and a two-hundred day moving average price of $10.36. The stock has a market capitalization of $2.29 billion, a PE ratio of 514.26 and a beta of 0.88.
Insider Buying and Selling
In related news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total transaction of $84,017.70. Following the transaction, the director owned 242,311 shares of the company's stock, valued at $2,427,956.22. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.52% of the company's stock.
About Viavi Solutions
(
Free Report)
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.
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