Allianz Asset Management GmbH Boosts Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Key Points

• Allianz Asset Management GmbH increased its stake in Viavi Solutions by 33.5% during the first quarter, acquiring an additional 200,415 shares to own approximately 0.36% of the company worth $8.93 million.
• Federal support from other institutional investors has also been significant, with various firms such as KBC Group NV and GAMMA Investing LLC increasing their holdings by 38.1% and 1,429.1% respectively during the same quarter.
• The stock has a current market capitalization of $2.27 billion, a P/E ratio of 509.25, and brokerages have a consensus target price of $12.69, indicating a generally optimistic outlook.

Allianz Asset Management GmbH boosted its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 33.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 797,977 shares of the communications equipment provider's stock after acquiring an additional 200,415 shares during the quarter. Allianz Asset Management GmbH owned 0.36% of Viavi Solutions worth $8,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in VIAV. Wellington Management Group LLP boosted its stake 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. Victory Capital Management Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Viavi Solutions in the 4th quarter valued at $15,268,000. Finally, LMR Partners LLP purchased a new stake in shares of Viavi Solutions in the 4th quarter valued at $8,080,000. Institutional investors own 95.54% of the company's stock.

Viavi Solutions Trading Down 0.2%

Viavi Solutions stock traded down $0.02 during mid-day trading on Wednesday, reaching $10.17. 957,615 shares of the company traded hands, compared to its average volume of 1,482,994. Viavi Solutions Inc. has a 52-week low of $7.03 and a 52-week high of $12.91. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 508.75 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. The firm's 50 day moving average price is $9.76 and its 200 day moving average price is $10.36.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VIAV shares. Wall Street Zen raised shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of Viavi Solutions in a report on Friday, May 2nd. UBS Group lowered their price target on shares of 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 price target on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a report on Friday, June 20th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, Viavi Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $12.69.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total transaction of $84,017.70. Following the completion of the transaction, the director owned 242,311 shares of the company's stock, valued at approximately $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company's stock.

About Viavi Solutions

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.