Tributary Capital Management LLC reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,233,218 shares of the communications equipment provider's stock after selling 44,436 shares during the period. Tributary Capital Management LLC owned approximately 0.56% of Viavi Solutions worth $13,800,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in VIAV. Wellington Management Group LLP increased its holdings in Viavi Solutions by 26.3% in the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock valued at $198,108,000 after purchasing an additional 4,085,648 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Viavi Solutions by 7,293.1% in the 1st quarter. Victory Capital Management Inc. now owns 3,083,135 shares of the communications equipment provider's stock valued at $34,500,000 after purchasing an additional 3,041,432 shares in the last quarter. Woodline Partners LP increased its holdings in Viavi Solutions by 423.7% in the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock valued at $34,700,000 after purchasing an additional 2,779,615 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Viavi Solutions in the 4th quarter valued at $16,722,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Viavi Solutions in the 4th quarter valued at $15,268,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently issued reports on VIAV shares. B. Riley lowered their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a research note on Friday, May 2nd. Rosenblatt Securities restated a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a research note on Friday, June 20th. UBS Group lowered their target price 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. Finally, Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.69.
Check Out Our Latest Analysis on VIAV
Viavi Solutions Stock Down 0.8%
Shares of VIAV stock traded down $0.08 during trading hours on Friday, hitting $10.20. 1,408,631 shares of the company were exchanged, compared to its average volume of 1,923,368. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53. Viavi Solutions Inc. has a one year low of $7.03 and a one year high of $12.91. The business's 50-day simple moving average is $9.62 and its two-hundred day simple moving average is $10.35. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 510.26 and a beta of 0.88.
Insider Transactions at Viavi Solutions
In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the transaction, the director owned 242,311 shares of the company's stock, valued at $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.52% of the stock is owned by corporate insiders.
Viavi Solutions Profile
(
Free Report)
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.
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