Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 19.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 260,499 shares of the communications equipment provider's stock after selling 61,933 shares during the period. Teacher Retirement System of Texas owned 0.12% of Viavi Solutions worth $2,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VIAV. Picton Mahoney Asset Management boosted its stake in Viavi Solutions by 35.0% during the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after buying an additional 833 shares during the last quarter. USA Financial Formulas purchased a new stake in Viavi Solutions in the first quarter valued at $53,000. First Horizon Advisors Inc. raised its position in Viavi Solutions by 29.1% in the first quarter. First Horizon Advisors Inc. now owns 5,046 shares of the communications equipment provider's stock valued at $56,000 after purchasing an additional 1,138 shares during the period. Sterling Capital Management LLC raised its position in Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 6,171 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in Viavi Solutions by 64.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after purchasing an additional 3,684 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Stock Down 1.2%

Shares of NASDAQ VIAV traded down $0.12 during midday trading on Friday, hitting $10.27. 1,224,541 shares of the company's stock were exchanged, compared to its average volume of 1,923,902. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.32. Viavi Solutions Inc. has a twelve month low of $7.03 and a twelve month high of $12.91. The company has a market cap of $2.29 billion, a PE ratio of 513.76 and a beta of 0.88. The firm's fifty day simple moving average is $9.51 and its 200-day simple moving average is $10.36.

Insider Activity

In other news, Director Richard Belluzzo sold 8,385 shares of the firm'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 transaction of $84,017.70. Following the transaction, the director directly owned 242,311 shares in the company, valued at approximately $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.52% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group reduced their target price on Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reduced their target price on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $13.50 price objective on shares of Viavi Solutions in a report on Friday, June 20th. Wall Street Zen upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Viavi Solutions in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.69.

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.