Assenagon Asset Management S.A. boosted its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 36.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 880,328 shares of the communications equipment provider's stock after acquiring an additional 232,951 shares during the quarter. Assenagon Asset Management S.A. owned 0.40% of Viavi Solutions worth $9,851,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of 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. Woodline Partners LP raised its position in Viavi Solutions by 423.7% during the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock worth $34,700,000 after buying an additional 2,779,615 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Viavi Solutions during the 4th quarter worth approximately $16,722,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at about $15,268,000. Finally, LMR Partners LLP purchased a new stake in Viavi Solutions during the fourth quarter worth $8,080,000. Institutional investors and hedge funds own 95.54% of the company's stock.
Insider Buying and Selling at Viavi Solutions
In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total transaction of $74,794.20. Following the transaction, the director now owns 259,081 shares in the company, valued at $2,311,002.52. This represents a 3.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.52% of the company's stock.
Viavi Solutions Price Performance
Shares of Viavi Solutions stock remained flat at $9.25 on Tuesday. 1,846,688 shares of the company's stock traded hands, compared to its average volume of 1,938,576. The firm has a 50 day moving average price of $9.55 and a 200-day moving average price of $10.41. The company has a quick ratio of 1.32, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.06 billion, a PE ratio of 462.73 and a beta of 0.87. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $12.91.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on VIAV. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price target on shares of Viavi Solutions in a research note on Friday, May 2nd. B. Riley cut their price objective on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. UBS Group decreased their price target on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Morgan Stanley lowered their target price on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Viavi Solutions presently has an average rating of "Moderate Buy" and an average price target of $12.69.
Read Our Latest Report on VIAV
Viavi Solutions Company 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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