Summit Partners Public Asset Management LLC Cuts Holdings in Viavi Solutions Inc. $VIAV

Key Points

• Summit Partners Public Asset Management reduced its Viavi Solutions stake by 30.9% in the fourth quarter, selling 713,635 shares and ending with 1.6 million shares valued at about $28.5 million.
• Analysts remain broadly constructive on the stock: six rate it a Buy, three a Hold, and the consensus price target is $42.75, with several firms recently lifting their targets sharply.
• Viavi reported stronger-than-expected quarterly results, including $0.27 EPS versus $0.24 expected and revenue of $406.8 million, while insiders have also been selling shares in recent months.

Summit Partners Public Asset Management LLC lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,599,365 shares of the communications equipment provider's stock after selling 713,635 shares during the period. Summit Partners Public Asset Management LLC owned approximately 0.69% of Viavi Solutions worth $28,501,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Phocas Financial Corp. bought a new position in shares of Viavi Solutions in the fourth quarter valued at approximately $3,772,000. Jefferies Financial Group Inc. bought a new position in shares of Viavi Solutions in the fourth quarter valued at approximately $1,803,000. Fisher Asset Management LLC grew its holdings in shares of Viavi Solutions by 14.2% in the third quarter. Fisher Asset Management LLC now owns 469,354 shares of the communications equipment provider's stock valued at $5,956,000 after acquiring an additional 58,364 shares in the last quarter. Tensor Edge Capital LLC bought a new position in shares of Viavi Solutions in the fourth quarter valued at approximately $2,673,000. Finally, JPMorgan Chase & Co. boosted its stake in Viavi Solutions by 22.2% in the third quarter. JPMorgan Chase & Co. now owns 400,886 shares of the communications equipment provider's stock valued at $5,087,000 after acquiring an additional 72,930 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. UBS Group boosted their target price on shares of Viavi Solutions from $25.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Rosenblatt Securities restated a "buy" rating and set a $70.00 price target on shares of Viavi Solutions in a research note on Wednesday, June 10th. B. Riley Financial upped their price target on shares of Viavi Solutions from $26.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, Susquehanna upped their price target on shares of Viavi Solutions from $25.00 to $65.00 and gave the company a "positive" rating in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.75.

Insider Buying and Selling at Viavi Solutions

In related news, Director Doug Gilstrap sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the sale, the director owned 55,766 shares of the company's stock, valued at approximately $3,067,130. This represents a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Christopher Siebert sold 8,255 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $54.02, for a total transaction of $445,935.10. Following the sale, the senior vice president directly owned 20,129 shares in the company, valued at $1,087,368.58. This trade represents a 29.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 450,369 shares of company stock worth $23,789,119 in the last ninety days. Insiders own 1.80% of the company's stock.

Viavi Solutions Stock Performance

Viavi Solutions stock opened at $50.10 on Wednesday. The firm's 50 day simple moving average is $47.97 and its 200 day simple moving average is $32.64. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $11.72 billion, a PE ratio of -208.74 and a beta of 1.18. Viavi Solutions Inc. has a 1-year low of $9.14 and a 1-year high of $60.43.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.03. The business had revenue of $406.80 million for the quarter, compared to analyst estimates of $393.80 million. Viavi Solutions had a negative net margin of 4.03% and a positive return on equity of 16.80%. Viavi Solutions's revenue was up 42.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. As a group, analysts expect that Viavi Solutions Inc. will post 0.73 earnings per share for the current fiscal year.

About Viavi Solutions

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.

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