Assenagon Asset Management S.A. increased its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 880,328 shares of the communications equipment provider's stock after purchasing an additional 232,951 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.40% of Viavi Solutions worth $9,851,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in VIAV. Picton Mahoney Asset Management raised its holdings 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 valued at $32,000 after purchasing an additional 833 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after acquiring an additional 6,171 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Viavi Solutions during the 4th quarter worth about $75,000. Smartleaf Asset Management LLC increased its holdings in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock valued at $84,000 after acquiring an additional 7,434 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in Viavi Solutions by 64.6% in the 4th 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 during the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Viavi Solutions
In other Viavi Solutions 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 sale, the director now owns 259,081 shares of the company's stock, valued at $2,311,002.52. The trade was a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.52% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on VIAV. UBS Group lowered their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley dropped their price objective on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of Viavi Solutions in a report on Friday, May 2nd. Wall Street Zen raised Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, B. Riley dropped their target price on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Viavi Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.69.
Read Our Latest Report on VIAV
Viavi Solutions Stock Performance
Shares of VIAV traded down $0.21 on Friday, reaching $9.18. 2,384,370 shares of the stock traded hands, compared to its average volume of 1,935,089. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -51.00 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The stock's 50-day moving average price is $9.58 and its 200-day moving average price is $10.42. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91.
Viavi Solutions Profile
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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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