New York State Teachers Retirement System Sells 29,600 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

New York State Teachers Retirement System trimmed its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 268,577 shares of the communications equipment provider's stock after selling 29,600 shares during the period. New York State Teachers Retirement System owned approximately 0.12% of Viavi Solutions worth $3,005,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of VIAV. Wellington Management Group LLP raised its stake in Viavi Solutions by 26.3% during 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 buying an additional 4,085,648 shares during the last quarter. Woodline Partners LP raised its stake in shares of Viavi Solutions by 423.7% in the fourth quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock worth $34,700,000 after buying an additional 2,779,615 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Viavi Solutions in the fourth quarter worth about $16,722,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Viavi Solutions in the fourth quarter worth about $15,268,000. Finally, LMR Partners LLP bought a new position in shares of Viavi Solutions in the fourth quarter worth about $8,080,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Viavi Solutions

In other 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 value of $84,017.70. Following the completion of the transaction, the director owned 242,311 shares in the company, valued at approximately $2,427,956.22. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.52% of the company's stock.

Viavi Solutions Trading Down 1.2%

Shares of Viavi Solutions stock traded down $0.12 on Friday, reaching $10.27. The company had a trading volume of 1,224,541 shares, compared to its average volume of 1,923,902. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 513.76 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. The firm's 50-day moving average price is $9.51 and its two-hundred day moving average price is $10.36. Viavi Solutions Inc. has a 1 year low of $7.03 and a 1 year high of $12.91.

Viavi Solutions 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.