Kovack Advisors Inc. Sells 30,800 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Kovack Advisors Inc. reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 16.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,100 shares of the communications equipment provider's stock after selling 30,800 shares during the period. Kovack Advisors Inc. owned approximately 0.07% of Viavi Solutions worth $1,814,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. USA Financial Formulas purchased a new position in Viavi Solutions during the 1st quarter valued at about $53,000. First Horizon Advisors Inc. increased its holdings in Viavi Solutions by 29.1% during the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 1,138 shares during the period. Sterling Capital Management LLC increased its holdings in Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 6,171 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Viavi Solutions by 64.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after purchasing an additional 3,684 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in Viavi Solutions during the 4th quarter valued at about $135,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Price Performance

VIAV stock traded up $0.02 during trading on Monday, reaching $10.20. The company's stock had a trading volume of 411,868 shares, compared to its average volume of 2,166,966. Viavi Solutions Inc. has a 1 year low of $7.03 and a 1 year high of $12.91. The company has a quick ratio of 1.32, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.28 billion, a P/E ratio of 510.01 and a beta of 0.88. The company's fifty day moving average is $9.72 and its 200-day moving average is $10.36.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VIAV. UBS Group lowered their price objective on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities reissued a "buy" rating and set a $13.50 price target on shares of Viavi Solutions in a report on Friday, June 20th. Wall Street Zen raised Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Morgan Stanley lowered their price target on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, B. Riley lowered their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.69.

Insider Buying and Selling at Viavi Solutions

In other news, Director Richard Belluzzo sold 8,385 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total transaction of $84,017.70. Following the completion of the transaction, the director owned 242,311 shares in the company, valued at $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by insiders.

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.