NFJ Investment Group LLC Invests $2.70 Million in Viavi Solutions Inc. $VIAV

Key Points

• NFJ Investment Group acquired 56,631 Viavi Solutions shares in the second quarter, valued at approximately $2.70 million. Institutional investors collectively own 95.54% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $49.88, although UBS lowered its target to $44 and maintained a neutral rating.
• Viavi exceeded quarterly expectations with adjusted EPS of $0.34 versus the $0.30 consensus and revenue of $443.1 million, up 52.5% year over year. The stock opened at $38.56, while company insiders recently sold shares, including a director’s $3.27 million transaction.

NFJ Investment Group LLC acquired a new stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 56,631 shares of the communications equipment provider's stock, valued at approximately $2,704,000.

A number of other institutional investors have also recently made changes to their positions in VIAV. WPG Advisers LLC lifted its stake in shares of Viavi Solutions by 96.2% in the 1st quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider's stock valued at $26,000 after purchasing an additional 380 shares during the period. Silvant Capital Management LLC bought a new position in Viavi Solutions in the 2nd quarter worth about $33,000. State of Wyoming bought a new position in Viavi Solutions in the 4th quarter worth about $34,000. Persistent Asset Partners Ltd purchased a new stake in Viavi Solutions during the 2nd quarter valued at about $38,000. Finally, Carolina Wealth Advisors LLC increased its stake in Viavi Solutions by 83.2% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider's stock valued at $41,000 after purchasing an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Viavi Solutions from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 13th. Rosenblatt Securities restated a "buy" rating and set a $70.00 price target on shares of Viavi Solutions in a research note on Wednesday. B. Riley Financial reduced their price target on shares of Viavi Solutions from $63.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Finally, UBS Group dropped their price objective on shares of Viavi Solutions from $60.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $49.88.

Insider Activity

In other news, EVP Paul Mcnab sold 1,595 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $37.37, for a total transaction of $59,605.15. Following the sale, the executive vice president directly owned 13,876 shares in the company, valued at $518,546.12. This trade represents a 10.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura A. Black sold 71,000 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $46.12, for a total transaction of $3,274,520.00. Following the sale, the director directly owned 71,497 shares of the company's stock, valued at $3,297,441.64. This represents a 49.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is currently owned by company insiders.

Viavi Solutions Trading Down 0.5%

Shares of VIAV opened at $38.56 on Friday. The company has a market cap of $9.51 billion, a P/E ratio of -257.05 and a beta of 1.21. Viavi Solutions Inc. has a twelve month low of $10.49 and a twelve month high of $60.43. The company's fifty day simple moving average is $42.68 and its 200-day simple moving average is $40.40. The company has a current ratio of 1.85, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The business had revenue of $443.10 million for the quarter, compared to analyst estimates of $432.62 million. During the same period last year, the company posted $0.13 earnings per share. The company's quarterly revenue was up 52.5% compared to the same quarter last year. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, analysts expect that Viavi Solutions Inc. will post 1.32 EPS for the current year.

Viavi Solutions Company Profile

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi's product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source