XTX Topco Ltd Increases Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Key Points

• XTX Topco Ltd increased its stake in Viavi Solutions by 232.4% during Q1, now owning 52,158 shares valued at approximately $584,000.
• Research firms have mixed ratings on Viavi Solutions, with Wall Street Zen upgrading it to a "strong-buy", while others like UBS and B. Riley set neutral ratings.
• Viavi's stock currently has a consensus rating of "Moderate Buy" and a target price of $12.69, with a market capitalization of $2.22 billion.

XTX Topco Ltd lifted its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 232.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,158 shares of the communications equipment provider's stock after purchasing an additional 36,468 shares during the quarter. XTX Topco Ltd's holdings in Viavi Solutions were worth $584,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VIAV. LPL Financial LLC grew its position in shares of Viavi Solutions by 17.9% in the fourth quarter. LPL Financial LLC now owns 38,823 shares of the communications equipment provider's stock valued at $392,000 after purchasing an additional 5,891 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Viavi Solutions by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 967,032 shares of the communications equipment provider's stock valued at $9,767,000 after buying an additional 22,387 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Viavi Solutions by 198.7% during the 4th quarter. Renaissance Technologies LLC now owns 157,400 shares of the communications equipment provider's stock valued at $1,590,000 after buying an additional 104,700 shares during the period. Raymond James Financial Inc. acquired a new position in Viavi Solutions during the 4th quarter worth approximately $718,000. Finally, Sterling Capital Management LLC boosted its holdings in Viavi Solutions by 804.6% in 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 during the period. 95.54% of the stock is owned by hedge funds and other institutional investors.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock traded up $0.12 during trading hours on Thursday, hitting $10.16. 2,844,867 shares of the company's stock traded hands, compared to its average volume of 2,155,891. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 508.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. Viavi Solutions Inc. has a 12-month low of $7.05 and a 12-month high of $12.91. The company has a fifty day simple moving average of $9.88 and a 200-day simple moving average of $10.36.

Analyst Ratings Changes

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

Insider Activity

In related 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 transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company's stock.

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.