Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Choreo LLC

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 reduced its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 76.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,827 shares of the communications equipment provider's stock after selling 47,747 shares during the period. 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 also recently bought and sold shares of VIAV. Wellington Management Group LLP grew its stake in Viavi Solutions by 26.3% during the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock valued at $198,108,000 after acquiring an additional 4,085,648 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Viavi Solutions by 7,293.1% in the 1st quarter. Victory Capital Management Inc. now owns 3,083,135 shares of the communications equipment provider's stock valued at $34,500,000 after purchasing an additional 3,041,432 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Viavi Solutions by 423.7% in the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider's stock worth $34,700,000 after acquiring an additional 2,779,615 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Viavi Solutions in the 4th quarter worth approximately $15,268,000. Finally, LMR Partners LLP acquired a new position in shares of Viavi Solutions in the 4th quarter worth approximately $8,080,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on VIAV shares. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a report on Friday, May 2nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $13.50 target price on shares of Viavi Solutions in a research report on Friday, June 20th. Morgan Stanley dropped their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group decreased their price target on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company 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 for the company in a research note on Friday, May 2nd. One research 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 data from MarketBeat, Viavi Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $12.69.

Viavi Solutions Trading Up 2.2%

Viavi Solutions stock traded up $0.22 during trading on Monday, reaching $9.98. The company had a trading volume of 460,121 shares, compared to its average volume of 2,143,600. Viavi Solutions Inc. has a 12-month low of $7.03 and a 12-month high of $12.91. The stock's 50 day moving average price is $9.81 and its two-hundred day moving average price is $10.36. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 499.00 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53.

Insider Transactions at Viavi Solutions

In related news, Director Richard Belluzzo sold 8,385 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the completion of the sale, the director directly owned 242,311 shares in the company, valued at approximately $2,427,956.22. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.