Renaissance Technologies LLC raised its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 198.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,400 shares of the communications equipment provider's stock after acquiring an additional 104,700 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Viavi Solutions worth $1,590,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sanctuary Advisors LLC grew its position in Viavi Solutions by 44.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider's stock valued at $144,000 after purchasing an additional 4,875 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 buying an additional 139,934 shares during the last quarter. Amundi lifted its position in Viavi Solutions by 185.5% in the 4th quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock valued at $1,132,000 after acquiring an additional 72,599 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock valued at $84,000 after purchasing an additional 7,434 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Viavi Solutions by 5.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider's stock valued at $442,000 after buying an additional 2,277 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. B. Riley increased their price target on Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com cut Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price target on shares of Viavi Solutions in a research report on Friday. Argus raised their price objective on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $13.00 target price (up from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $12.44.
Read Our Latest Stock Analysis on Viavi Solutions
Insider Buying and Selling
In other Viavi Solutions news, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total transaction of $100,187.06. Following the completion of the transaction, the executive vice president now owns 38,775 shares in the company, valued at $430,014.75. This trade represents a 18.90 % 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. Also, SVP James L. Veler, Jr. sold 13,807 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,164 shares of company stock worth $411,122. Corporate insiders own 1.52% of the company's stock.
Viavi Solutions Price Performance
VIAV stock traded down $1.61 during mid-day trading on Friday, hitting $9.05. The company had a trading volume of 2,445,036 shares, compared to its average volume of 1,780,522. The company has a 50-day moving average price of $10.67 and a 200 day moving average price of $10.52. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -50.36 and a beta of 0.89. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94.
About Viavi Solutions
(
Free Report)
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.
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