Legato Capital Management LLC Reduces Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Legato Capital Management LLC decreased its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 31.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,373 shares of the communications equipment provider's stock after selling 43,875 shares during the quarter. Legato Capital Management LLC's holdings in Viavi Solutions were worth $1,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. USA Financial Formulas bought a new position in shares of Viavi Solutions during the first quarter worth approximately $53,000. First Horizon Advisors Inc. grew its position in Viavi Solutions by 29.1% during the first 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 grew its position in Viavi Solutions by 804.6% during the fourth 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. grew its position in Viavi Solutions by 64.6% during the fourth 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 stake in shares of Viavi Solutions in the 4th quarter valued at $135,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Viavi Solutions

In other news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total value of $84,017.70. Following the completion of the transaction, the director 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VIAV. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of Viavi Solutions in a research note on Friday, May 2nd. Rosenblatt Securities reiterated a "buy" rating and issued a $13.50 price target on shares of Viavi Solutions in a research note on Friday, June 20th. UBS Group dropped their price target on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, B. Riley lowered 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. One investment 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.69.

Viavi Solutions Trading Up 0.1%

NASDAQ VIAV traded up $0.01 during trading on Friday, hitting $10.18. 1,229,390 shares of the company's stock traded hands, compared to its average volume of 2,179,644. The stock has a fifty day moving average of $9.70 and a two-hundred day moving average of $10.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. Viavi Solutions Inc. has a 12-month low of $7.03 and a 12-month high of $12.91. The firm has a market cap of $2.27 billion, a P/E ratio of 509.25 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.