LMR Partners LLP purchased a new position in Viavi Solutions Inc. (NASDAQ:VIAV) during the second quarter, Holdings Channel reports. The institutional investor purchased 108,806 shares of the communications equipment provider’s stock, valued at approximately $1,146,000.
Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Viavi Solutions by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 389,179 shares of the communications equipment provider’s stock worth $3,183,000 after buying an additional 9,882 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Viavi Solutions by 6.6% in the first quarter. Bank of Montreal Can now owns 24,368 shares of the communications equipment provider’s stock worth $261,000 after buying an additional 1,500 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Viavi Solutions by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 93,800 shares of the communications equipment provider’s stock worth $1,006,000 after buying an additional 1,300 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Viavi Solutions during the first quarter worth about $168,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of Viavi Solutions during the first quarter worth about $132,000. Institutional investors and hedge funds own 94.47% of the company’s stock.
Shares of Viavi Solutions Inc. (NASDAQ VIAV) opened at 10.09 on Friday. The company has a 50-day moving average of $10.85 and a 200 day moving average of $10.62. The firm has a market cap of $2.29 billion, a P/E ratio of 14.27 and a beta of 1.36. Viavi Solutions Inc. has a 12-month low of $6.96 and a 12-month high of $11.89.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. The company had revenue of $198.10 million for the quarter, compared to the consensus estimate of $196.22 million. Viavi Solutions had a net margin of 20.57% and a return on equity of 8.46%. Viavi Solutions’s revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Equities research analysts anticipate that Viavi Solutions Inc. will post $0.41 earnings per share for the current fiscal year.
VIAV has been the subject of a number of recent analyst reports. B. Riley restated a “neutral” rating and set a $8.25 price target on shares of Viavi Solutions in a report on Monday, May 1st. Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $8.50 to $9.50 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Jefferies Group LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and lifted their target price for the company from $9.50 to $14.00 in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Tuesday, May 9th. Finally, BidaskClub downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $12.53.
In other news, SVP Luke M. Scrivanich sold 4,691 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $11.39, for a total value of $53,430.49. Following the completion of the sale, the senior vice president now owns 22,707 shares of the company’s stock, valued at $258,632.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 9,632 shares of company stock valued at $108,000 in the last three months. Company insiders own 0.35% of the company’s stock.
Viavi Solutions Company Profile
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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