Ameriprise Financial Inc. Has $23.61 Million Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Ameriprise Financial Inc. increased its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,337,490 shares of the communications equipment provider's stock after buying an additional 92,382 shares during the quarter. Ameriprise Financial Inc. owned about 1.05% of Viavi Solutions worth $23,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Viavi Solutions by 26.3% during 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 acquiring an additional 4,085,648 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Viavi Solutions by 1.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider's stock valued at $106,297,000 after purchasing an additional 171,746 shares during the period. Schroder Investment Management Group grew its stake in Viavi Solutions by 1.6% during the 4th quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock worth $70,972,000 after buying an additional 112,978 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Viavi Solutions by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,398,610 shares of the communications equipment provider's stock valued at $64,626,000 after buying an additional 620,773 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in 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 valued at $35,106,000 after purchasing an additional 435,265 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Stock Down 0.4%

VIAV traded down $0.04 during trading on Tuesday, hitting $9.25. The company had a trading volume of 52,523 shares, compared to its average volume of 1,862,691. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The company has a market cap of $2.06 billion, a PE ratio of -51.25 and a beta of 0.92. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The business has a 50-day moving average of $10.26 and a 200-day moving average of $10.54.

Insiders Place Their Bets

In other news, SVP James L. Veler, Jr. sold 13,807 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $10.86, for a total value of $149,944.02. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 14,323 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value of $160,990.52. Following the completion of the transaction, the senior vice president now directly owns 55,877 shares in the company, valued at approximately $628,057.48. The trade was a 20.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,549 shares of company stock valued at $485,916. Company insiders own 1.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VIAV shares. B. Riley cut their price target on Viavi Solutions from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Argus boosted their target price on Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Viavi Solutions in a report on Friday, May 2nd. Stifel Nicolaus restated a "buy" rating and set a $13.00 target price (up from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Finally, Morgan Stanley reduced their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.