Viavi Solutions Inc. (NASDAQ:VIAV) Shares Acquired by Allianz Asset Management GmbH

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 increased its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 33.5% during the first quarter, according to its most recent 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 approximately 0.36% of Viavi Solutions worth $8,929,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. KBC Group NV grew its holdings in shares of Viavi Solutions by 38.1% in the 1st quarter. KBC Group NV now owns 12,967 shares of the communications equipment provider's stock worth $145,000 after acquiring an additional 3,579 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Viavi Solutions by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,106,034 shares of the communications equipment provider's stock worth $12,377,000 after acquiring an additional 30,359 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Viavi Solutions by 1,429.1% in the 1st quarter. GAMMA Investing LLC now owns 39,008 shares of the communications equipment provider's stock worth $436,000 after acquiring an additional 36,457 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Viavi Solutions by 201.2% in the 4th quarter. Marshall Wace LLP now owns 49,200 shares of the communications equipment provider's stock worth $497,000 after acquiring an additional 32,867 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Viavi Solutions by 36.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 880,328 shares of the communications equipment provider's stock worth $9,851,000 after acquiring an additional 232,951 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Trading Up 0.1%

Viavi Solutions stock opened at $10.18 on Friday. The company's fifty day simple moving average is $9.72 and its 200-day simple moving average is $10.36. The company has a quick ratio of 1.32, a current ratio of 1.53 and a debt-to-equity ratio of 0.54. Viavi Solutions Inc. has a 12 month low of $7.03 and a 12 month high of $12.91. The stock has a market cap of $2.27 billion, a P/E ratio of 509.25 and a beta of 0.88.

Insider Buying and Selling

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the business's 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 in the company, valued at $2,427,956.22. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VIAV. Needham & Company LLC restated a "buy" rating and issued a $15.00 target price on shares of Viavi Solutions in a report on Friday, May 2nd. B. Riley decreased their target price on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. UBS Group lowered their price target on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $13.50 price target on shares of Viavi Solutions in a report on Friday, June 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.69.

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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