Viavi Solutions Inc. (NASDAQ:VIAV) Stock Position Raised by Woodline Partners LP

Woodline Partners LP raised its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 423.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,435,678 shares of the communications equipment provider's stock after purchasing an additional 2,779,615 shares during the quarter. Woodline Partners LP owned about 1.55% of Viavi Solutions worth $34,700,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in shares of Viavi Solutions in the 4th quarter valued at $2,759,000. ProShare Advisors LLC boosted its holdings in shares of Viavi Solutions by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 66,390 shares of the communications equipment provider's stock valued at $671,000 after purchasing an additional 20,419 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Viavi Solutions by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 125,286 shares of the communications equipment provider's stock valued at $1,265,000 after acquiring an additional 4,772 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Viavi Solutions during the 4th quarter valued at $8,080,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Viavi Solutions during the 4th quarter valued at $2,059,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Wall Street Analysts Forecast Growth

VIAV has been the topic of several recent research reports. Morgan Stanley reduced their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a report on Friday, May 2nd. Northland Securities restated an "outperform" rating and set a $14.00 target price (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. UBS Group reduced their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, B. Riley reduced their target price on shares of Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.69.

Insiders Place Their Bets

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 transaction, the director now owns 259,081 shares in the company, 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 is available through the SEC website. Also, SVP Luke M. Scrivanich sold 14,323 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, the senior vice president now directly owns 55,877 shares of the company's stock, valued at $628,057.48. The trade was a 20.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,549 shares of company stock worth $485,916 in the last quarter. 1.52% of the stock is owned by corporate insiders.

Viavi Solutions Stock Performance

VIAV stock remained flat at $9.09 during trading on Friday. 1,989,526 shares of the company's stock were exchanged, compared to its average volume of 1,878,700. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $12.91. 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 firm has a market capitalization of $2.03 billion, a P/E ratio of -50.50 and a beta of 0.92. The company has a fifty day moving average of $10.11 and a two-hundred day moving average of $10.51.

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.