Rhumbline Advisers Has $7.32 Million Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Rhumbline Advisers cut its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 654,420 shares of the communications equipment provider's stock after selling 29,375 shares during the period. Rhumbline Advisers owned 0.29% of Viavi Solutions worth $7,323,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its holdings in shares of Viavi Solutions by 35.0% in the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock valued at $32,000 after buying an additional 833 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Viavi Solutions by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider's stock valued at $172,000 after buying an additional 1,288 shares in the last quarter. Xponance Inc. grew its stake in shares of Viavi Solutions by 11.5% in the fourth quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider's stock valued at $161,000 after buying an additional 1,649 shares in the last quarter. Swiss National Bank grew its stake in shares of Viavi Solutions by 0.6% in the fourth 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 in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Viavi Solutions by 64.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after buying an additional 3,684 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.

Insider Activity at Viavi Solutions

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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Viavi Solutions Price Performance

VIAV stock traded down $0.21 during midday trading on Friday, reaching $9.18. The company had a trading volume of 2,384,370 shares, compared to its average volume of 1,935,089. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -51.00 and a beta of 0.87. The stock has a 50 day moving average price of $9.58 and a 200-day moving average price of $10.42. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. 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. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a research report on Friday, May 2nd. UBS Group reduced their price objective 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. Morgan Stanley reduced 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 report on Tuesday, April 8th. Finally, B. Riley reduced their target price on shares of 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 analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions has a consensus rating of "Moderate Buy" and an average price target of $12.69.

About Viavi Solutions

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.