Arrowstreet Capital Limited Partnership Invests $15.27 Million in Viavi Solutions Inc. (NASDAQ:VIAV)

Arrowstreet Capital Limited Partnership purchased a new position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,511,726 shares of the communications equipment provider's stock, valued at approximately $15,268,000. Arrowstreet Capital Limited Partnership owned approximately 0.68% of Viavi Solutions at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Viavi Solutions by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider's stock worth $47,887,000 after acquiring an additional 54,633 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Viavi Solutions by 14.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider's stock worth $35,106,000 after purchasing an additional 435,265 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Viavi Solutions by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock worth $33,682,000 after purchasing an additional 139,934 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Viavi Solutions during the fourth quarter valued at $16,722,000. Finally, Tributary Capital Management LLC boosted its holdings in shares of Viavi Solutions by 14.5% during the 4th quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider's stock valued at $12,904,000 after buying an additional 161,532 shares in the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on VIAV shares. B. Riley lifted their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Northland Securities reiterated an "outperform" rating and set a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. StockNews.com downgraded Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Argus lifted their price objective on Viavi Solutions from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities raised Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.50.

Insider Activity at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 14,323 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the transaction, the senior vice president now directly owns 55,877 shares of the company's stock, valued at $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares in the company, valued at $1,805,133.33. This represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,164 shares of company stock valued at $711,422 over the last ninety days. Insiders own 1.52% of the company's stock.

Viavi Solutions Stock Up 5.9 %

Shares of Viavi Solutions stock traded up $0.57 on Wednesday, reaching $10.18. The company's stock had a trading volume of 3,206,295 shares, compared to its average volume of 1,761,626. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $12.91. The firm's fifty day simple moving average is $11.35 and its two-hundred day simple moving average is $10.41. 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 company has a market capitalization of $2.26 billion, a price-to-earnings ratio of -56.55 and a beta of 0.89.

Viavi Solutions Company Profile

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.