Tensor Edge Capital LLC Sells 85,400 Shares of Viavi Solutions Inc. $VIAV

Key Points

• Tensor Edge Capital LLC cut its Viavi Solutions stake by 56.9% in the first quarter, selling 85,400 shares and leaving it with 64,600 shares worth about $2.15 million.
• Company insiders also sold shares, including CEO Oleg Khaykin and SVP Kevin Christopher Siebert, with insiders selling 450,369 shares worth about $23.8 million over the past three months.
• Viavi posted solid quarterly results, beating analyst estimates with $0.27 EPS on $406.8 million in revenue, while analysts currently rate the stock a “Moderate Buy” with an average price target of $42.88.

Tensor Edge Capital LLC reduced its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 56.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,600 shares of the communications equipment provider's stock after selling 85,400 shares during the quarter. Viavi Solutions makes up approximately 0.4% of Tensor Edge Capital LLC's holdings, making the stock its 17th largest holding. Tensor Edge Capital LLC's holdings in Viavi Solutions were worth $2,150,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Royal Bank of Canada increased its holdings in Viavi Solutions by 11.5% during the 1st quarter. Royal Bank of Canada now owns 183,320 shares of the communications equipment provider's stock valued at $2,051,000 after purchasing an additional 18,910 shares in the last quarter. AQR Capital Management LLC boosted its stake in Viavi Solutions by 110.5% in the first quarter. AQR Capital Management LLC now owns 33,663 shares of the communications equipment provider's stock worth $377,000 after purchasing an additional 17,673 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Viavi Solutions by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,061 shares of the communications equipment provider's stock worth $1,467,000 after purchasing an additional 5,775 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Viavi Solutions by 205.4% during the first quarter. Millennium Management LLC now owns 476,767 shares of the communications equipment provider's stock worth $5,335,000 after purchasing an additional 320,662 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Viavi Solutions in the first quarter valued at $165,000. 95.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Oleg Khaykin sold 136,547 shares of Viavi Solutions stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $51.82, for a total transaction of $7,075,865.54. Following the completion of the sale, the chief executive officer owned 1,188,798 shares in the company, valued at $61,603,512.36. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin Christopher Siebert sold 8,255 shares of Viavi Solutions 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 owned 20,129 shares of the company's stock, valued at approximately $1,087,368.58. This represents a 29.08% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 450,369 shares of company stock worth $23,789,119. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings raised Viavi Solutions from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Rosenblatt Securities reissued a "buy" rating and set a $70.00 price objective on shares of Viavi Solutions in a report on Wednesday, June 10th. B. Riley Financial raised their price objective on shares of Viavi Solutions from $26.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Susquehanna boosted their target price on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a "positive" rating in a research note on Wednesday. Finally, UBS Group upped their target price on shares of Viavi Solutions from $25.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $42.88.

Viavi Solutions Price Performance

NASDAQ VIAV opened at $41.66 on Friday. The stock has a fifty day moving average of $49.54 and a 200-day moving average of $35.21. The stock has a market capitalization of $9.74 billion, a P/E ratio of -173.58 and a beta of 1.18. Viavi Solutions Inc. has a 52 week low of $9.61 and a 52 week high of $60.43. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.39 and a current ratio of 1.61.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last released 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 company had revenue of $406.80 million during the quarter, compared to the consensus estimate of $393.80 million. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.The firm's quarterly revenue was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. On average, equities research analysts forecast that Viavi Solutions Inc. will post 0.73 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.

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