Teacher Retirement System of Texas Lowers Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Teacher Retirement System of Texas lessened its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 19.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 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. Picton Mahoney Asset Management grew its holdings in Viavi Solutions by 35.0% in the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider's stock worth $32,000 after purchasing an additional 833 shares during the period. USA Financial Formulas bought a new stake in shares of Viavi Solutions in the 1st quarter worth approximately $53,000. First Horizon Advisors Inc. grew its stake in shares of 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 worth $56,000 after buying an additional 1,138 shares during the last quarter. Sterling Capital Management LLC increased its position in 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 valued at $70,000 after buying an additional 6,171 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in Viavi Solutions by 64.6% during the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock valued at $95,000 after buying an additional 3,684 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VIAV. Needham & Company LLC restated a "buy" rating and set a $15.00 price target on shares of Viavi Solutions in a report on Friday, May 2nd. B. Riley reduced their price objective 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. UBS Group dropped their target price 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. Wall Street Zen upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $13.50 price objective on shares of Viavi Solutions in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Viavi Solutions presently has an average rating of "Moderate Buy" and an average target price of $12.69.

Insider Activity 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 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 approximately $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by insiders.

Viavi Solutions Stock Performance

Shares of VIAV traded down $0.12 during mid-day trading on Friday, hitting $10.27. 1,224,541 shares of the company traded hands, compared to its average volume of 1,922,089. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 513.76 and a beta of 0.88. The stock has a 50-day moving average price of $9.53 and a two-hundred day moving average price of $10.36. Viavi Solutions Inc. has a 1 year low of $7.03 and a 1 year high of $12.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53.

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.