Federated Hermes Inc. Decreases Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Federated Hermes Inc. cut its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,345 shares of the communications equipment provider's stock after selling 44,215 shares during the period. Federated Hermes Inc. owned about 0.06% of Viavi Solutions worth $1,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VIAV. Mackenzie Financial Corp raised its position in Viavi Solutions by 51.8% during the 1st quarter. Mackenzie Financial Corp now owns 90,318 shares of the communications equipment provider's stock valued at $1,011,000 after purchasing an additional 30,826 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in Viavi Solutions by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 163,676 shares of the communications equipment provider's stock valued at $1,832,000 after acquiring an additional 4,340 shares during the period. Wakefield Asset Management LLLP bought a new stake in Viavi Solutions in the 1st quarter worth approximately $1,098,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Viavi Solutions in the first quarter worth $762,000. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Viavi Solutions by 33.5% in the first quarter. Allianz Asset Management GmbH now owns 797,977 shares of the communications equipment provider's stock worth $8,929,000 after buying an additional 200,415 shares during the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VIAV shares. B. Riley decreased their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Rosenblatt Securities restated a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a research report on Friday, June 20th. Finally, 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 report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Viavi Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $12.69.

Insider Buying and Selling

In related news, Director Richard Belluzzo sold 8,385 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $10.02, for a total value of $84,017.70. Following the transaction, the director owned 242,311 shares of the company's stock, 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 accessible through the SEC website. 1.52% of the stock is owned by company insiders.

Viavi Solutions Trading Up 1.2%

Viavi Solutions stock traded up $0.12 during midday trading on Thursday, reaching $10.16. The stock had a trading volume of 2,844,867 shares, compared to its average volume of 1,598,029. Viavi Solutions Inc. has a 52-week low of $7.05 and a 52-week high of $12.91. The company has a fifty day moving average of $9.88 and a 200 day moving average of $10.36. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 508.25 and a beta of 0.87. The company has a quick ratio of 1.32, a current ratio of 1.53 and a debt-to-equity ratio of 0.54.

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.