Choreo LLC Cuts Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Key Points

• Choreo LLC significantly reduced its holdings in Viavi Solutions Inc. by 76.3% in Q1, now owning 14,827 shares valued at approximately $166,000.
• Institutional investors own 95.54% of Viavi Solutions stock, with several hedge funds increasing their positions, including a notable 7,293.1% increase from Victory Capital Management.
• Analyst ratings for Viavi Solutions vary, with a consensus rating of Moderate Buy and an average price target of $12.69, while some analysts have issued lower targets.

Choreo LLC lessened its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 76.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,827 shares of the communications equipment provider's stock after selling 47,747 shares during the quarter. Choreo LLC's holdings in Viavi Solutions were worth $166,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Heritage Family Offices LLP increased its holdings in shares of Viavi Solutions by 7.5% in the 1st quarter. Heritage Family Offices LLP now owns 14,970 shares of the communications equipment provider's stock valued at $168,000 after purchasing an additional 1,045 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Viavi Solutions by 29.1% in the 1st quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after acquiring an additional 1,138 shares during the last quarter. New York State Common Retirement Fund grew its stake in Viavi Solutions by 3.9% in the 1st quarter. New York State Common Retirement Fund now owns 60,999 shares of the communications equipment provider's stock valued at $683,000 after acquiring an additional 2,300 shares during the last quarter. KBC Group NV grew its stake in Viavi Solutions by 38.1% in the 1st quarter. KBC Group NV now owns 12,967 shares of the communications equipment provider's stock valued at $145,000 after acquiring an additional 3,579 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in Viavi Solutions by 64.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after acquiring an additional 3,684 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VIAV. 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. Morgan Stanley lowered their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. 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. UBS Group lowered their price objective on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, B. Riley decreased their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.69.

Insider Buying and Selling at Viavi Solutions

In other news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total transaction of $84,017.70. Following the transaction, the director directly owned 242,311 shares in the company, valued at $2,427,956.22. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.52% of the stock is currently owned by insiders.

Viavi Solutions Trading Down 2.9%

Shares of Viavi Solutions stock traded down $0.29 during mid-day trading on Friday, hitting $9.76. 2,243,459 shares of the stock were exchanged, compared to its average volume of 1,435,947. Viavi Solutions Inc. has a twelve month low of $7.03 and a twelve month high of $12.91. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 488.24 and a beta of 0.87. The company has a 50-day simple moving average of $9.81 and a 200 day simple moving average of $10.36. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54.

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.