Vanguard Group Inc. Raises Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Vanguard Group Inc. grew its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,288,576 shares of the communications equipment provider's stock after acquiring an additional 424,564 shares during the quarter. Vanguard Group Inc. owned about 12.72% of Viavi Solutions worth $258,558,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VIAV. Lazard Asset Management LLC increased its holdings in shares of Viavi Solutions by 2,189.8% in the 4th quarter. Lazard Asset Management LLC now owns 3,137 shares of the communications equipment provider's stock valued at $32,000 after acquiring an additional 3,000 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Viavi Solutions in the 3rd quarter valued at $92,000. Oak Thistle LLC purchased a new position in shares of Viavi Solutions in the 3rd quarter valued at $101,000. Coldstream Capital Management Inc. increased its holdings in shares of Viavi Solutions by 13.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider's stock valued at $109,000 after acquiring an additional 1,411 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Viavi Solutions in the 2nd quarter valued at $129,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VIAV shares. Northland Securities boosted their target price on Viavi Solutions from $12.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 6th. Morgan Stanley boosted their target price on Viavi Solutions from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 6th. StockNews.com upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Friday, March 15th. Stifel Nicolaus upgraded Viavi Solutions from a "hold" rating to a "buy" rating and boosted their target price for the stock from $10.00 to $13.00 in a research note on Monday, February 12th. Finally, Susquehanna boosted their target price on Viavi Solutions from $12.00 to $14.00 and gave the stock a "positive" rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.50.

Insider Activity

In other news, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now owns 57,940 shares of the company's stock, valued at approximately $615,322.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now owns 57,940 shares of the company's stock, valued at approximately $615,322.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the transaction, the senior vice president now directly owns 47,097 shares of the company's stock, valued at approximately $503,937.90. The disclosure for this sale can be found here. Insiders sold a total of 30,093 shares of company stock valued at $319,841 in the last quarter. 1.80% of the stock is currently owned by company insiders.

Viavi Solutions Stock Performance

Viavi Solutions stock traded down $0.49 during trading hours on Friday, hitting $9.09. 5,685,358 shares of the stock traded hands, compared to its average volume of 2,364,895. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The firm's 50 day moving average price is $9.76 and its 200-day moving average price is $9.14. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 454.50 and a beta of 0.96. Viavi Solutions Inc. has a 1 year low of $7.26 and a 1 year high of $11.65.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $254.50 million for the quarter, compared to the consensus estimate of $249.77 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. As a group, equities analysts expect that Viavi Solutions Inc. will post 0.22 EPS for the current fiscal year.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.