Viavi Solutions Inc. (NASDAQ:VIAV) Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,475,819 shares of the communications equipment provider's stock after buying an additional 435,265 shares during the quarter. Bank of New York Mellon Corp owned about 1.57% of Viavi Solutions worth $35,106,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Viavi Solutions in the 3rd quarter valued at approximately $25,000. Venturi Wealth Management LLC purchased a new position in shares of Viavi Solutions in the fourth quarter worth $75,000. KBC Group NV lifted its stake in shares of Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider's stock worth $85,000 after buying an additional 3,252 shares during the period. Gilbert & Cook Inc. purchased a new stake in shares of Viavi Solutions during the third quarter valued at $95,000. Finally, Park Avenue Securities LLC increased its position in shares of Viavi Solutions by 15.4% in the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider's stock valued at $136,000 after acquiring an additional 1,792 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Price Performance

Shares of VIAV traded up $0.08 during mid-day trading on Tuesday, hitting $10.79. 1,455,029 shares of the company were exchanged, compared to its average volume of 1,703,650. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -59.94 and a beta of 0.94. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $12.91. The company has a 50 day moving average of $11.03 and a 200-day moving average of $10.01. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55.

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Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. UBS Group boosted their price target on Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a research note on Friday, January 31st. Stifel Nicolaus reiterated a "buy" rating and issued a $13.00 price target (up previously from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. StockNews.com upgraded shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Monday. Morgan Stanley increased their price target on Viavi Solutions from $9.50 to $10.00 and gave the stock an "underweight" rating in a research report on Friday, January 31st. Finally, Argus upped their target price on Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $12.72.

Insider Activity

In other news, SVP Luke M. Scrivanich sold 14,323 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $11.24, for a total value of $160,990.52. Following the transaction, the senior vice president now directly owns 55,877 shares of the company's stock, valued at approximately $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Paul Mcnab sold 9,034 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total transaction of $100,187.06. Following the sale, the executive vice president now directly owns 38,775 shares of the company's stock, valued at approximately $430,014.75. This represents a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,966 shares of company stock worth $740,646 over the last quarter. 1.52% of the stock is currently owned by corporate insiders.

Viavi Solutions 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.