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

Arrowstreet Capital Limited Partnership purchased a new stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the 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 0.68% of Viavi Solutions at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Viavi Solutions by 1.0% during the third 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 during the last quarter. Bank of New York Mellon Corp increased its position in shares of Viavi Solutions by 14.3% during the 4th 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in Viavi Solutions by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock valued at $33,682,000 after buying an additional 139,934 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Viavi Solutions in the fourth quarter valued at about $16,722,000. Finally, Tributary Capital Management LLC boosted its stake in Viavi Solutions by 14.5% during the fourth quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider's stock worth $12,904,000 after buying an additional 161,532 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

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Viavi Solutions Stock Up 0.3 %

NASDAQ:VIAV traded up $0.03 during mid-day trading on Monday, hitting $9.89. The stock had a trading volume of 2,369,795 shares, compared to its average volume of 1,748,316. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $12.91. The stock has a 50-day simple moving average of $11.39 and a two-hundred day simple moving average of $10.39. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.20 billion, a PE ratio of -54.94 and a beta of 0.89.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VIAV shares. UBS Group upped their price objective on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a report on Friday, January 31st. B. Riley upped their price target on Viavi Solutions from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. StockNews.com cut Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 18th. Stifel Nicolaus reissued a "buy" rating and set a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Finally, Rosenblatt Securities raised Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.72.

Insider Transactions at Viavi Solutions

In other news, Director Masood Jabbar sold 30,000 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 180,333 shares of the company's stock, valued at approximately $1,805,133.33. This represents a 14.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was 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. In the last three months, insiders sold 67,164 shares of company stock valued at $711,422. Insiders own 1.52% of the company's stock.

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.