Versor Investments LP Makes New $1.23 Million Investment in Viavi Solutions Inc. $VIAV

Key Points

• Versor Investments LP has made a new investment of approximately $1.23 million in Viavi Solutions Inc., acquiring 109,500 shares during the first quarter of the year.
• Institutional investors and hedge funds now own approximately 95.54% of Viavi Solutions' stock, indicating strong institutional confidence in the company.
• Viavi Solutions reported earnings of $0.13 per share for the last quarter, surpassing analyst expectations, with revenue up 15.3% year-over-year at $290.50 million.

Versor Investments LP acquired a new position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 109,500 shares of the communications equipment provider's stock, valued at approximately $1,225,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Viavi Solutions in the first quarter worth $53,000. First Horizon Advisors Inc. boosted its stake in Viavi Solutions by 29.1% in the first quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 1,138 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after purchasing an additional 6,171 shares in the last quarter. 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 worth $95,000 after purchasing an additional 3,684 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Viavi Solutions in the fourth quarter worth $135,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Insiders Place Their Bets

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction dated Tuesday, July 1st. The stock was 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 approximately $2,427,956.22. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.52% of the company's stock.

Viavi Solutions Trading Down 0.2%

Shares of VIAV opened at $10.78 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.50 and a debt-to-equity ratio of 0.51. Viavi Solutions Inc. has a 12-month low of $7.80 and a 12-month high of $12.91. The firm has a market capitalization of $2.41 billion, a PE ratio of 67.38 and a beta of 0.87. The stock's fifty day simple moving average is $10.08 and its 200-day simple moving average is $10.39.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last released its earnings results on Thursday, August 7th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Viavi Solutions had a return on equity of 8.02% and a net margin of 3.21%. The firm had revenue of $290.50 million for the quarter, compared to analyst estimates of $285.19 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The company's quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Viavi Solutions Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

VIAV has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. Susquehanna raised Viavi Solutions from a "neutral" rating to a "positive" rating and set a $15.00 price objective on the stock in a research note on Friday, August 8th. UBS Group upped their price target on Viavi Solutions from $11.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. B. Riley upped their price target on Viavi Solutions from $11.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Morgan Stanley upped their price target on Viavi Solutions from $8.60 to $9.30 and gave the company an "underweight" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Viavi Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $13.31.

Viavi Solutions 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.

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