Kovack Advisors Inc. reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.
Several other large investors have also recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new position in Viavi Solutions in the 1st quarter worth $53,000. First Horizon Advisors Inc. lifted its holdings in Viavi Solutions by 29.1% in the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock worth $56,000 after buying an additional 1,138 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after buying an additional 6,171 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Viavi Solutions by 64.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock worth $95,000 after buying an additional 3,684 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Viavi Solutions in the 4th quarter worth $135,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on VIAV. Wall Street Zen raised shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. B. Riley lowered their price objective on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a research report on Friday, May 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $13.50 price objective on shares of Viavi Solutions in a research report on Friday, June 20th. Finally, UBS Group lowered their price objective on shares of 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 given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.69.
Get Our Latest Research Report on Viavi Solutions
Insider Transactions at Viavi Solutions
In other news, Director Richard Belluzzo sold 8,385 shares of the company's 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 sale, the director directly owned 242,311 shares of the company's stock, valued at approximately $2,427,956.22. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is owned by insiders.
Viavi Solutions Stock Performance
Viavi Solutions stock traded up $0.01 during midday trading on Friday, reaching $10.18. 1,229,390 shares of the stock traded hands, compared to its average volume of 1,857,074. 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 fifty day moving average price of $9.70 and a two-hundred day moving average price of $10.36. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 509.25 and a beta of 0.88. Viavi Solutions Inc. has a fifty-two week low of $7.03 and a fifty-two week high of $12.91.
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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