Raymond James Financial Inc. Takes $718,000 Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Raymond James Financial Inc. purchased a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 71,109 shares of the communications equipment provider's stock, valued at approximately $718,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Viavi Solutions by 26.3% in the fourth quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock worth $198,108,000 after purchasing an additional 4,085,648 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Viavi Solutions by 1.6% in the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock worth $70,972,000 after purchasing an additional 112,978 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Viavi Solutions by 14.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider's stock worth $35,106,000 after purchasing an additional 435,265 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Viavi Solutions by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock worth $33,682,000 after purchasing an additional 139,934 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Viavi Solutions in the fourth quarter worth about $16,722,000. 95.54% of the stock is owned by institutional investors.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total transaction of $74,794.20. Following the completion of the sale, the director now owns 259,081 shares in the company, valued at $2,311,002.52. This represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James L. Veler, Jr. sold 13,807 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,549 shares of company stock worth $485,916. Company insiders own 1.52% of the company's stock.

Viavi Solutions Trading Up 4.3%

Shares of VIAV traded up $0.40 during mid-day trading on Monday, reaching $9.59. 288,118 shares of the company's stock traded hands, compared to its average volume of 1,829,606. The stock has a market cap of $2.14 billion, a P/E ratio of -53.36 and a beta of 0.92. The stock's 50-day moving average is $10.43 and its two-hundred day moving average is $10.54. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18.

Analyst Upgrades and Downgrades

VIAV has been the subject of several recent research reports. Morgan Stanley dropped their price target on Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com upgraded Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 5th. Rosenblatt Securities lifted their price target on Viavi Solutions from $12.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Argus lifted their price target on Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price target on shares of Viavi Solutions in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.