Adage Capital Partners GP L.L.C. Has $14.70 Million Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Adage Capital Partners GP L.L.C. lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,455,590 shares of the communications equipment provider's stock after selling 780,612 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.66% of Viavi Solutions worth $14,701,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Viavi Solutions by 1.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider's stock valued at $106,297,000 after acquiring an additional 171,746 shares during the period. Dark Forest Capital Management LP acquired a new stake in Viavi Solutions in the fourth quarter worth about $162,000. Stifel Financial Corp lifted its holdings in Viavi Solutions by 4.1% in the fourth quarter. Stifel Financial Corp now owns 99,368 shares of the communications equipment provider's stock worth $1,004,000 after purchasing an additional 3,902 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in Viavi Solutions by 64.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider's stock worth $95,000 after purchasing an additional 3,684 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Viavi Solutions by 260.8% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 266,641 shares of the communications equipment provider's stock worth $2,693,000 after purchasing an additional 192,741 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Needham & Company LLC upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Friday, January 31st. Northland Securities restated an "outperform" rating and set a $14.00 price objective (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. Stifel Nicolaus restated a "buy" rating and set a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. Argus boosted their price objective on Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Finally, Rosenblatt Securities cut their price objective on Viavi Solutions from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.28.

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 9,034 shares of Viavi Solutions stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the sale, the executive vice president now directly owns 38,775 shares of the company's stock, valued at approximately $430,014.75. This trade represents a 18.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction on Friday, March 7th. The shares were sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,164 shares of company stock worth $411,122. Corporate insiders own 1.52% of the company's stock.

Viavi Solutions Price Performance

NASDAQ:VIAV traded up $0.01 on Tuesday, reaching $10.53. The stock had a trading volume of 1,623,181 shares, compared to its average volume of 1,772,443. The company has a market capitalization of $2.34 billion, a P/E ratio of -58.50 and a beta of 0.89. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $10.71 and a 200-day moving average price of $10.51.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.