Westerly Capital Management LLC Acquires 400,000 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Westerly Capital Management LLC raised its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,450,000 shares of the communications equipment provider's stock after acquiring an additional 400,000 shares during the period. Viavi Solutions makes up about 6.8% of Westerly Capital Management LLC's portfolio, making the stock its 3rd biggest position. Westerly Capital Management LLC owned about 0.65% of Viavi Solutions worth $14,645,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP grew its position in Viavi Solutions by 26.3% during the 4th 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 period. T. Rowe Price Investment Management Inc. raised its position in Viavi Solutions by 1.7% during the fourth 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 acquiring an additional 171,746 shares in the last quarter. Schroder Investment Management Group raised its position in Viavi Solutions by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock valued at $70,972,000 after acquiring an additional 112,978 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 acquiring an additional 620,773 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Viavi Solutions by 14.3% in the 4th 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 in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Viavi Solutions

In related news, SVP James L. Veler, Jr. sold 13,807 shares of the firm'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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 14,323 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the transaction, the senior vice president now directly owns 55,877 shares of the company's stock, valued at approximately $628,057.48. The trade was a 20.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,164 shares of company stock worth $411,122 over the last three months. Insiders own 1.52% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Northland Securities reissued an "outperform" rating and issued a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Rosenblatt Securities decreased their target price on Viavi Solutions from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. B. Riley boosted their price target on Viavi Solutions from $10.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. StockNews.com cut shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Finally, UBS Group increased their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a research report on Friday, January 31st. One investment 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. Based on data from MarketBeat, Viavi Solutions presently has an average rating of "Moderate Buy" and an average price target of $12.28.

Viavi Solutions Stock Up 0.1 %

Shares of NASDAQ:VIAV opened at $10.53 on Wednesday. The business has a 50-day moving average price of $10.71 and a 200 day moving average price of $10.51. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -58.50 and a beta of 0.89.

About Viavi Solutions

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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