Suffolk Capital Management LLC trimmed its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 27.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,447 shares of the communications equipment provider’s stock after selling 41,744 shares during the period. Suffolk Capital Management LLC’s holdings in Viavi Solutions were worth $1,054,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in shares of Viavi Solutions by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 18,336 shares of the communications equipment provider’s stock valued at $193,000 after acquiring an additional 371 shares during the period. Legal & General Group Plc raised its holdings in Viavi Solutions by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 434,542 shares of the communications equipment provider’s stock valued at $4,577,000 after acquiring an additional 31,547 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in Viavi Solutions by 140.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 56,497 shares of the communications equipment provider’s stock valued at $595,000 after acquiring an additional 32,972 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Viavi Solutions by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 221,260 shares of the communications equipment provider’s stock valued at $2,330,000 after acquiring an additional 40,437 shares during the last quarter. Finally, James Investment Research Inc. acquired a new position in Viavi Solutions in the 2nd quarter valued at $1,278,000. Institutional investors own 92.36% of the company’s stock.
Viavi Solutions Inc. (NASDAQ VIAV) traded up $0.13 during mid-day trading on Friday, reaching $8.55. 5,418,000 shares of the company’s stock were exchanged, compared to its average volume of 3,122,076. Viavi Solutions Inc. has a 12 month low of $7.56 and a 12 month high of $11.89. The company has a current ratio of 2.20, a quick ratio of 2.10 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1,914.89, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. Viavi Solutions had a net margin of 10.57% and a return on equity of 8.99%. The business had revenue of $195.20 million for the quarter, compared to analyst estimates of $183.89 million. During the same period last year, the business posted $0.09 EPS. Viavi Solutions’s revenue was down 7.4% compared to the same quarter last year. analysts expect that Viavi Solutions Inc. will post 0.31 EPS for the current fiscal year.
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Several brokerages have recently issued reports on VIAV. B. Riley raised shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, July 21st. BidaskClub raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “hold” rating and issued a $11.00 price objective on shares of Viavi Solutions in a research report on Thursday, August 3rd. TheStreet lowered shares of Viavi Solutions from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Finally, MKM Partners upped their target price on shares of Viavi Solutions from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Viavi Solutions has an average rating of “Hold” and a consensus target price of $12.78.
In other Viavi Solutions news, Director Richard Belluzzo sold 10,000 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $9.54, for a total value of $95,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 6,179 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $10.21, for a total transaction of $63,087.59. Following the completion of the sale, the senior vice president now owns 18,938 shares in the company, valued at $193,356.98. The disclosure for this sale can be found here. Insiders sold a total of 100,151 shares of company stock worth $972,975 over the last quarter. 0.59% of the stock is currently owned by company insiders.
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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