Clearbridge Investments LLC Cuts Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Clearbridge Investments LLC lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,512,235 shares of the communications equipment provider’s stock after selling 12,428 shares during the period. Clearbridge Investments LLC’s holdings in Viavi Solutions were worth $35,368,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of VIAV. PNC Financial Services Group Inc. boosted its holdings in shares of Viavi Solutions by 7.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 60,671 shares of the communications equipment provider’s stock valued at $611,000 after purchasing an additional 4,028 shares during the last quarter. Norges Bank bought a new position in shares of Viavi Solutions in the 4th quarter valued at about $24,608,000. First Eagle Investment Management LLC lifted its holdings in shares of Viavi Solutions by 90.6% in the 4th quarter. First Eagle Investment Management LLC now owns 639,437 shares of the communications equipment provider’s stock valued at $6,439,000 after acquiring an additional 303,900 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Viavi Solutions by 49.0% in the 4th quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock valued at $121,000 after acquiring an additional 3,952 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Viavi Solutions in the 4th quarter valued at about $177,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley increased 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. Susquehanna lowered shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Friday, May 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 target price on shares of Viavi Solutions in a research report on Monday, April 1st. Rosenblatt Securities reduced their target price on shares of Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction on Friday, May 10th. The shares were sold at an average price of $7.35, for a total value of $35,000.70. Following the transaction, the executive vice president now directly owns 49,777 shares of the company’s stock, valued at $365,860.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the sale, the senior vice president now directly owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Mcnab sold 4,762 shares of Viavi Solutions stock in a transaction on Friday, May 10th. The stock was sold at an average price of $7.35, for a total transaction of $35,000.70. Following the sale, the executive vice president now owns 49,777 shares of the company’s stock, valued at $365,860.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,134 shares of company stock valued at $368,753. 1.80% of the stock is currently owned by insiders.

Viavi Solutions Stock Down 1.0 %

Shares of VIAV stock opened at $7.60 on Thursday. The company’s 50 day moving average is $8.43 and its 200 day moving average is $9.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.81 and a quick ratio of 3.35. Viavi Solutions Inc. has a 52-week low of $7.10 and a 52-week high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The business had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $249.08 million. During the same period in the previous year, the business earned $0.02 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts predict that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Viavi Solutions Profile

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.