Viavi Solutions Inc. (NASDAQ:VIAV) Position Trimmed by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,516,435 shares of the communications equipment provider's stock after selling 70,111 shares during the quarter. Viavi Solutions comprises about 0.9% of Leeward Investments LLC MA's holdings, making the stock its 29th largest position. Leeward Investments LLC MA owned approximately 0.68% of Viavi Solutions worth $16,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Viavi Solutions by 26.3% in the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock valued at $198,108,000 after acquiring an additional 4,085,648 shares during the last quarter. Woodline Partners LP grew its stake in Viavi Solutions by 423.7% in the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock valued at $34,700,000 after acquiring an additional 2,779,615 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Viavi Solutions in the 4th quarter valued at about $16,722,000. Arrowstreet Capital Limited Partnership purchased a new position in Viavi Solutions in the 4th quarter valued at about $15,268,000. Finally, LMR Partners LLP purchased a new position in Viavi Solutions in the 4th quarter valued at about $8,080,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VIAV shares. UBS Group reduced their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Morgan Stanley cut their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. B. Riley cut their price objective on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.69.

Insider Buying and Selling

In related news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total value of $84,017.70. Following the transaction, the director owned 242,311 shares of the company's stock, valued at approximately $2,427,956.22. This trade represents a 3.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.52% of the company's stock.

Viavi Solutions Price Performance

Viavi Solutions stock traded down $0.21 during midday trading on Monday, hitting $10.23. The company's stock had a trading volume of 1,900,530 shares, compared to its average volume of 1,927,040. 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 stock's 50-day moving average price is $9.53 and its 200-day moving average price is $10.36. Viavi Solutions Inc. has a 12 month low of $6.89 and a 12 month high of $12.91. The company has a market capitalization of $2.28 billion, a PE ratio of 511.76 and a beta of 0.88.

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.