Westerly Capital Management LLC Has $14.65 Million Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Westerly Capital Management LLC increased its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,450,000 shares of the communications equipment provider's stock after purchasing an additional 400,000 shares during the quarter. Viavi Solutions makes up 6.8% of Westerly Capital Management LLC's portfolio, making the stock its 3rd biggest position. Westerly Capital Management LLC owned 0.65% of Viavi Solutions worth $14,645,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of VIAV. Sanctuary Advisors LLC raised its position in shares of 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 acquiring an additional 4,875 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $33,682,000 after purchasing an additional 139,934 shares during the last quarter. Amundi lifted its stake in Viavi Solutions by 185.5% in the fourth quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock valued at $1,132,000 after buying an additional 72,599 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Viavi Solutions by 836.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after buying an additional 7,434 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Viavi Solutions by 5.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider's stock worth $442,000 after buying an additional 2,277 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Insider Buying and Selling

In other news, SVP Luke M. Scrivanich sold 14,323 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, the senior vice president now owns 55,877 shares in the company, valued at $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the transaction, the executive vice president now owns 38,775 shares in the company, valued at approximately $430,014.75. This trade represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,164 shares of company stock valued at $411,122. Company insiders own 1.52% of the company's stock.

Analysts Set New Price Targets

VIAV has been the topic of several analyst reports. Argus increased their target price 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. UBS Group decreased their target price on shares of Viavi Solutions from $11.50 to $11.00 and set a "neutral" rating for the company in a research report on Friday. Morgan Stanley cut their price target on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus restated a "buy" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Viavi Solutions in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.69.

Viavi Solutions Stock Performance

VIAV traded down $0.43 during trading hours on Monday, reaching $8.92. The company's stock had a trading volume of 2,647,884 shares, compared to its average volume of 1,809,123. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The company's 50-day moving average is $10.64 and its 200-day moving average is $10.54. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $12.91. The firm has a market cap of $1.98 billion, a PE ratio of -49.43 and a beta of 0.92.

Viavi Solutions 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.