Public Employees Retirement System of Ohio Cuts Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Public Employees Retirement System of Ohio lowered its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 45.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,405 shares of the communications equipment provider's stock after selling 182,758 shares during the period. Public Employees Retirement System of Ohio owned 0.10% of Viavi Solutions worth $2,226,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Viavi Solutions by 4.4% in the 3rd quarter. Barclays PLC now owns 538,261 shares of the communications equipment provider's stock worth $4,856,000 after purchasing an additional 22,893 shares during the period. SG Americas Securities LLC lifted its holdings in Viavi Solutions by 209.4% in the fourth quarter. SG Americas Securities LLC now owns 34,693 shares of the communications equipment provider's stock worth $350,000 after buying an additional 23,479 shares during the period. Legato Capital Management LLC lifted its holdings in Viavi Solutions by 26.9% in the fourth quarter. Legato Capital Management LLC now owns 139,248 shares of the communications equipment provider's stock worth $1,406,000 after buying an additional 29,480 shares during the period. White Pine Capital LLC boosted its position in Viavi Solutions by 51.0% during the 4th quarter. White Pine Capital LLC now owns 55,515 shares of the communications equipment provider's stock valued at $561,000 after acquiring an additional 18,741 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Viavi Solutions by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider's stock worth $10,864,000 after acquiring an additional 29,621 shares during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VIAV shares. Morgan Stanley lowered their target price on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Argus raised their price objective on Viavi Solutions from $13.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of Viavi Solutions in a research report on Friday, May 2nd. UBS Group lowered their price target on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions currently has an average rating of "Moderate Buy" and an average price target of $12.69.

Insider Activity

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total transaction of $74,794.20. Following the completion of the sale, the director now owns 259,081 shares of the company's stock, valued at approximately $2,311,002.52. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 9,034 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the transaction, the executive vice president now directly owns 38,775 shares in the company, valued at $430,014.75. This trade represents a 18.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,226 shares of company stock valued at $324,925 in the last quarter. 1.52% of the stock is currently owned by insiders.

Viavi Solutions Stock Performance

Shares of NASDAQ:VIAV traded up $0.16 during midday trading on Tuesday, reaching $9.31. 2,415,484 shares of the company's stock traded hands, compared to its average volume of 1,898,662. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $12.91. The stock has a 50 day moving average of $9.82 and a 200 day moving average of $10.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -51.69 and a beta of 0.92.

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.