Raymond James & Associates Takes Position in Viavi Solutions Inc (VIAV)

Raymond James & Associates acquired a new stake in Viavi Solutions Inc (NASDAQ:VIAV) during the 2nd quarter, HoldingsChannel reports. The firm acquired 10,606 shares of the communications equipment provider’s stock, valued at approximately $109,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Viavi Solutions by 13.1% in the 2nd quarter. Victory Capital Management Inc. now owns 2,460,420 shares of the communications equipment provider’s stock valued at $25,195,000 after buying an additional 284,335 shares during the period. Principal Financial Group Inc. increased its stake in Viavi Solutions by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,764,190 shares of the communications equipment provider’s stock valued at $17,148,000 after buying an additional 37,253 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Viavi Solutions by 6.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,513,323 shares of the communications equipment provider’s stock valued at $15,497,000 after buying an additional 91,505 shares during the period. Rhumbline Advisers increased its stake in Viavi Solutions by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 576,349 shares of the communications equipment provider’s stock valued at $5,902,000 after buying an additional 8,722 shares during the period. Finally, Eagle Asset Management Inc. acquired a new position in Viavi Solutions in the 2nd quarter valued at approximately $5,656,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.

Shares of VIAV opened at $10.85 on Friday. Viavi Solutions Inc has a 12 month low of $8.34 and a 12 month high of $12.82. The firm has a market cap of $2.47 billion, a PE ratio of 26.45 and a beta of 0.87. The company has a current ratio of 2.05, a quick ratio of 1.89 and a debt-to-equity ratio of 0.77.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Viavi Solutions had a negative net margin of 5.92% and a positive return on equity of 12.57%. The company had revenue of $268.50 million for the quarter, compared to analyst estimates of $268.73 million. During the same quarter in the prior year, the business posted $0.11 EPS. Viavi Solutions’s quarterly revenue was up 40.6% on a year-over-year basis. Equities research analysts forecast that Viavi Solutions Inc will post 0.48 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 4th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, October 17th. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Stifel Nicolaus began coverage on shares of Viavi Solutions in a research note on Monday, October 22nd. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Deutsche Bank upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Viavi Solutions has a consensus rating of “Buy” and a consensus target price of $11.99.

In other news, SVP Gary W. Staley sold 5,185 shares of the stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $11.22, for a total transaction of $58,175.70. Following the transaction, the senior vice president now owns 7,670 shares in the company, valued at approximately $86,057.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Ralph Rondinone sold 4,949 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $11.43, for a total transaction of $56,567.07. Following the transaction, the senior vice president now owns 24,695 shares in the company, valued at approximately $282,263.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,495 shares of company stock worth $1,417,459. 0.50% of the stock is currently owned by company insiders.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

Further Reading: Day Trading

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Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

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