Kovack Advisors Inc. Acquires 73,800 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Kovack Advisors Inc. raised its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 113.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 138,600 shares of the communications equipment provider’s stock after purchasing an additional 73,800 shares during the quarter. Kovack Advisors Inc.’s holdings in Viavi Solutions were worth $1,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in VIAV. Wellington Management Group LLP raised its position in shares of Viavi Solutions by 9.0% during the 3rd quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock valued at $145,558,000 after acquiring an additional 1,321,599 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Viavi Solutions by 399.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,044,366 shares of the communications equipment provider’s stock valued at $10,517,000 after buying an additional 835,248 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Viavi Solutions by 36.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock valued at $26,257,000 after buying an additional 768,759 shares during the period. Penserra Capital Management LLC grew its holdings in shares of Viavi Solutions by 141.9% in the 3rd quarter. Penserra Capital Management LLC now owns 759,275 shares of the communications equipment provider’s stock valued at $6,939,000 after buying an additional 445,403 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Viavi Solutions by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider’s stock valued at $258,558,000 after buying an additional 424,564 shares during the period. Institutional investors own 95.54% of the company’s stock.

Insider Activity

In other news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the sale, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares in the company, valued at $615,322.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,093 shares of company stock valued at $319,841. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

VIAV has been the subject of several research analyst reports. Rosenblatt Securities decreased their price target on shares of Viavi Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Susquehanna boosted their price target on shares of Viavi Solutions from $12.00 to $14.00 and gave the company a “positive” rating in a report on Thursday, March 7th. Morgan Stanley boosted their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Northland Securities upped their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Viavi Solutions Stock Up 0.5 %

Shares of Viavi Solutions stock traded up $0.04 during trading hours on Friday, reaching $8.01. 835,864 shares of the company’s stock were exchanged, compared to its average volume of 1,449,850. The company has a 50 day moving average of $9.28 and a two-hundred day moving average of $9.04. Viavi Solutions Inc. has a fifty-two week low of $7.26 and a fifty-two week high of $11.65. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.78 billion, a P/E ratio of 400.50 and a beta of 0.95.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $254.50 million during the quarter, compared to the consensus estimate of $249.77 million. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. On average, sell-side analysts forecast that Viavi Solutions Inc. will post 0.22 EPS for the current fiscal year.

About Viavi Solutions

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.