Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 SEC filing.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its stake in shares of Viavi Solutions by 35.0% during the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after purchasing an additional 833 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Viavi Solutions by 804.6% during the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after buying an additional 6,171 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Viavi Solutions in the 4th quarter valued at about $75,000. Smartleaf Asset Management LLC grew its position in shares of Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after buying an additional 7,434 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in 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 acquiring an additional 3,684 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Richard Belluzzo sold 8,385 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.52% of the company's stock.

Analyst Upgrades and Downgrades

VIAV has been the subject of a number of research analyst reports. UBS Group decreased 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. Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of Viavi Solutions in a research note on Friday, May 2nd. B. Riley dropped their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Rosenblatt Securities upped their target price on Viavi Solutions from $12.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.69.

Viavi Solutions Stock Performance

NASDAQ:VIAV traded up $0.02 during trading hours on Thursday, reaching $9.39. The company had a trading volume of 1,227,103 shares, compared to its average volume of 1,925,958. The firm has a market cap of $2.10 billion, a PE ratio of -52.16 and a beta of 0.87. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The business's 50 day moving average price is $9.60 and its 200-day moving average price is $10.43. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18.

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.