Russell Investments Group Ltd. Sells 1,323,453 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Russell Investments Group Ltd. trimmed its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 79.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,125 shares of the communications equipment provider's stock after selling 1,323,453 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Viavi Solutions worth $3,355,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Viavi Solutions by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider's stock valued at $258,558,000 after purchasing an additional 424,564 shares during the period. Wellington Management Group LLP increased its position in shares of Viavi Solutions by 9.0% during the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider's stock worth $145,558,000 after buying an additional 1,321,599 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Viavi Solutions by 1.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,126,549 shares of the communications equipment provider's stock worth $28,577,000 after buying an additional 40,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Viavi Solutions by 36.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider's stock valued at $26,257,000 after buying an additional 768,759 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Viavi Solutions by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,917 shares of the communications equipment provider's stock valued at $22,310,000 after acquiring an additional 147,615 shares during the last quarter. Institutional investors own 95.54% of the company's stock.

Insider Activity at Viavi Solutions

In related news, EVP Paul Mcnab sold 4,762 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $7.35, for a total value of $35,000.70. Following the completion of the sale, the executive vice president now directly owns 49,777 shares of the company's stock, valued at approximately $365,860.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the company's stock in a transaction on Monday, March 11th. The stock was 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 owns 47,097 shares in the company, valued at approximately $503,937.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction on Friday, May 10th. The stock was sold at an average price of $7.35, for a total value of $35,000.70. Following the sale, the executive vice president now owns 49,777 shares in the company, valued at $365,860.95. The disclosure for this sale can be found here. Insiders have sold a total of 37,134 shares of company stock valued at $368,753 over the last 90 days. Insiders own 1.80% of the company's stock.

Viavi Solutions Stock Down 0.5 %

NASDAQ VIAV traded down $0.04 during mid-day trading on Monday, hitting $7.35. The company's stock had a trading volume of 1,116,542 shares, compared to its average volume of 2,061,805. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90. The company's 50 day simple moving average is $8.89 and its 200 day simple moving average is $9.04. Viavi Solutions Inc. has a twelve month low of $7.10 and a twelve month high of $11.65. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -367.25 and a beta of 0.97.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The business had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The company's revenue was down .7% on a year-over-year basis. Analysts anticipate that Viavi Solutions Inc. will post 0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on VIAV shares. Stifel Nicolaus reissued a "buy" rating and issued a $13.00 price objective on shares of Viavi Solutions in a research report on Monday, April 1st. Susquehanna cut Viavi Solutions from a "positive" rating to a "neutral" rating and set a $9.00 price target on the stock. in a report on Friday, May 3rd. Northland Securities lifted their price objective on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, March 6th. Morgan Stanley increased their target price on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Viavi Solutions in a research note on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Viavi Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Viavi Solutions 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.