New York State Teachers Retirement System reduced its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.12% of Viavi Solutions worth $3,005,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management increased its position in shares of Viavi Solutions by 35.0% in the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after acquiring an additional 833 shares in the last quarter. Heritage Family Offices LLP boosted its holdings in shares of Viavi Solutions by 7.5% during the first quarter. Heritage Family Offices LLP now owns 14,970 shares of the communications equipment provider's stock worth $168,000 after purchasing an additional 1,045 shares during the period. Xponance Inc. boosted its holdings in shares of Viavi Solutions by 11.5% during the fourth quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider's stock worth $161,000 after purchasing an additional 1,649 shares during the period. Swiss National Bank increased its stake in Viavi Solutions by 0.6% in the 4th quarter. Swiss National Bank now owns 438,400 shares of the communications equipment provider's stock valued at $4,428,000 after buying an additional 2,600 shares during the period. Finally, KBC Group NV lifted its position in Viavi Solutions by 38.1% in the 1st quarter. KBC Group NV now owns 12,967 shares of the communications equipment provider's stock worth $145,000 after buying an additional 3,579 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. UBS Group decreased their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Rosenblatt Securities reissued a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a research note on Friday, June 20th. Needham & Company LLC reissued a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a research note on Friday, May 2nd. Morgan Stanley decreased their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen raised shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.69.
View Our Latest Report on VIAV
Insider Activity
In related news, Director Richard Belluzzo sold 8,385 shares of Viavi Solutions stock in a transaction 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 owned 242,311 shares of the company's stock, valued at approximately $2,427,956.22. The trade was a 3.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.52% of the company's stock.
Viavi Solutions Stock Up 0.6%
Shares of VIAV stock traded up $0.06 on Tuesday, hitting $10.29. The company's stock had a trading volume of 1,633,356 shares, compared to its average volume of 1,925,870. 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 fifty-two week low of $6.89 and a fifty-two week high of $12.91. The firm's fifty day moving average price is $9.53 and its 200-day moving average price is $10.36. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 514.76 and a beta of 0.88.
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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