Norges Bank bought a new stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,443,705 shares of the communications equipment provider's stock, valued at approximately $24,608,000. Norges Bank owned approximately 1.10% of Viavi Solutions at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted 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 worth $258,558,000 after purchasing an additional 424,564 shares in the last quarter. Wellington Management Group LLP boosted its stake in Viavi Solutions by 9.0% in the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider's stock worth $145,558,000 after buying an additional 1,321,599 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Viavi Solutions by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,026,592 shares of the communications equipment provider's stock valued at $50,618,000 after acquiring an additional 202,387 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Viavi Solutions by 1.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,126,549 shares of the communications equipment provider's stock worth $28,577,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted 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 worth $26,257,000 after acquiring an additional 768,759 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.
Insider Transactions at Viavi Solutions
In other news, EVP Paul Mcnab sold 15,004 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the transaction, the executive vice president now owns 57,940 shares of the company's stock, valued at $615,322.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company's stock, valued at $615,322.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The disclosure for this sale can be found here. Insiders sold 43,956 shares of company stock worth $418,759 in the last three months. Corporate insiders own 1.80% of the company's stock.
Analysts Set New Price Targets
VIAV has been the subject of a number of recent research reports. Stifel Nicolaus reissued a "buy" rating and issued a $13.00 target price on shares of Viavi Solutions in a research note on Monday, April 1st. Rosenblatt Securities dropped their price objective on Viavi Solutions from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, May 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Viavi Solutions in a research note on Friday, May 3rd. 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 research report on Wednesday, March 6th. Finally, Argus upgraded shares of Viavi Solutions to a "strong-buy" rating in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.
Get Our Latest Stock Analysis on VIAV
Viavi Solutions Stock Performance
Shares of VIAV traded up $0.13 during mid-day trading on Friday, hitting $7.52. 1,554,340 shares of the company traded hands, compared to its average volume of 1,382,745. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -376.00 and a beta of 0.97. The stock has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $9.01. Viavi Solutions Inc. has a 1 year low of $7.10 and a 1 year high of $11.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.35 and a current ratio of 3.81.
Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The firm had revenue of $246.00 million for the quarter, compared to analysts' expectations of $249.08 million. Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The firm's revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. Equities analysts anticipate that Viavi Solutions Inc. will post 0.12 earnings per share for the current year.
Viavi Solutions Profile
(Free Report)
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.
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