Clearbridge Investments LLC lifted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,397,893 shares of the communications equipment provider’s stock after purchasing an additional 8,077 shares during the period. Clearbridge Investments LLC’s holdings in Viavi Solutions were worth $60,007,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in VIAV. First Trust Advisors LP lifted its position in shares of Viavi Solutions by 41.0% during the first quarter. First Trust Advisors LP now owns 355,406 shares of the communications equipment provider’s stock worth $4,400,000 after purchasing an additional 103,260 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Viavi Solutions by 22.2% during the first quarter. Teacher Retirement System of Texas now owns 25,604 shares of the communications equipment provider’s stock worth $402,000 after purchasing an additional 4,644 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Viavi Solutions by 5.4% in the first quarter. Mercer Global Advisors Inc. ADV now owns 21,015 shares of the communications equipment provider’s stock valued at $330,000 after buying an additional 1,084 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Viavi Solutions in the first quarter valued at approximately $264,000. Finally, Geode Capital Management LLC lifted its holdings in Viavi Solutions by 5.3% in the first quarter. Geode Capital Management LLC now owns 3,782,636 shares of the communications equipment provider’s stock valued at $59,387,000 after buying an additional 188,960 shares during the period. Institutional investors own 94.60% of the company’s stock.
In other Viavi Solutions news, EVP Paul Mcnab sold 4,549 shares of the stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $16.52, for a total value of $75,149.48. Following the completion of the sale, the executive vice president now owns 39,881 shares in the company, valued at $658,834.12. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Luke M. Scrivanich sold 7,912 shares of the stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $16.32, for a total transaction of $129,123.84. Following the completion of the sale, the senior vice president now owns 80,938 shares of the company’s stock, valued at approximately $1,320,908.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,274 shares of company stock valued at $483,437. 1.10% of the stock is owned by insiders.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 12th. The communications equipment provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $310.90 million during the quarter, compared to the consensus estimate of $302.38 million. Viavi Solutions had a net margin of 3.85% and a return on equity of 19.07%. Equities analysts forecast that Viavi Solutions Inc. will post 0.72 EPS for the current fiscal year.
VIAV has been the topic of several analyst reports. Morgan Stanley increased their price objective on shares of Viavi Solutions from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 13th. B. Riley restated a “buy” rating on shares of Viavi Solutions in a report on Friday, August 13th. Finally, JPMorgan Chase & Co. lowered shares of Viavi Solutions from an “overweight” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Tuesday, July 20th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Viavi Solutions currently has an average rating of “Buy” and a consensus price target of $19.43.
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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