Viavi Solutions Inc. (NASDAQ:VIAV) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 27.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 704,416 shares of the communications equipment provider's stock after purchasing an additional 151,792 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Viavi Solutions worth $7,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Viavi Solutions during the 1st quarter worth approximately $53,000. First Horizon Advisors Inc. raised its stake in shares of Viavi Solutions by 29.1% during the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock worth $56,000 after buying an additional 1,138 shares during the period. Sterling Capital Management LLC raised its stake in shares of Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock worth $70,000 after buying an additional 6,171 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Viavi Solutions by 64.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock worth $95,000 after buying an additional 3,684 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Viavi Solutions during the 4th quarter worth approximately $135,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on VIAV. UBS Group increased their price objective on Viavi Solutions from $11.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price objective on shares of Viavi Solutions in a research note on Friday, May 2nd. Wall Street Zen raised Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 13th. B. Riley increased their price objective on Viavi Solutions from $11.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $13.50 price objective on shares of Viavi Solutions in a research note on Friday, June 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.31.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $10.80 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 1.30. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 67.50 and a beta of 0.87. The business has a 50-day moving average of $10.05 and a 200 day moving average of $10.37. Viavi Solutions Inc. has a 12 month low of $7.80 and a 12 month high of $12.91.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The company had revenue of $290.50 million for the quarter, compared to analyst estimates of $285.19 million. Viavi Solutions had a return on equity of 8.02% and a net margin of 3.21%. Viavi Solutions's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. As a group, sell-side analysts forecast that Viavi Solutions Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by corporate insiders.

Viavi Solutions Company 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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