Teacher Retirement System of Texas Sells 61,933 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Teacher Retirement System of Texas trimmed its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 19.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.12% of Viavi Solutions worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VIAV. Charles Schwab Investment Management Inc. raised its holdings in shares of Viavi Solutions by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock valued at $33,682,000 after purchasing an additional 139,934 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Viavi Solutions during the fourth quarter valued at approximately $718,000. Amundi raised its holdings in shares of Viavi Solutions by 185.5% during the fourth quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock valued at $1,132,000 after purchasing an additional 72,599 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Viavi Solutions by 3.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 146,636 shares of the communications equipment provider's stock valued at $1,481,000 after purchasing an additional 4,312 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Viavi Solutions by 0.6% during the fourth quarter. Swiss National Bank now owns 438,400 shares of the communications equipment provider's stock valued at $4,428,000 after purchasing an additional 2,600 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction 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 completion of the transaction, the director owned 242,311 shares in the company, valued at $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by company insiders.

Viavi Solutions Price Performance

Shares of VIAV traded up $0.05 during midday trading on Thursday, hitting $10.40. 152,202 shares of the company traded hands, compared to its average volume of 1,918,035. The firm has a 50 day moving average of $9.52 and a 200-day moving average of $10.35. Viavi Solutions Inc. has a 52 week low of $6.89 and a 52 week high of $12.91. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 516.46 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.53.

Wall Street Analyst Weigh In

A number of analysts have commented on VIAV shares. UBS Group reduced their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $13.50 target price on shares of Viavi Solutions in a report on Friday, June 20th. Morgan Stanley reduced their target price on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. B. Riley dropped 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 report on Friday, May 2nd. Finally, 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.