Edgestream Partners L.P. Sells 208,694 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Edgestream Partners L.P. lessened its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 63.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,619 shares of the communications equipment provider's stock after selling 208,694 shares during the quarter. Edgestream Partners L.P. owned about 0.05% of Viavi Solutions worth $1,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VIAV. Bank of New York Mellon Corp boosted its position in Viavi Solutions by 14.3% during 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. boosted its position in Viavi Solutions by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider's stock worth $28,819,000 after purchasing an additional 217,399 shares during the period. Dean Investment Associates LLC boosted its position in Viavi Solutions by 189.6% during the third quarter. Dean Investment Associates LLC now owns 280,239 shares of the communications equipment provider's stock worth $2,528,000 after purchasing an additional 183,481 shares during the period. Tributary Capital Management LLC boosted its position 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 purchasing an additional 161,532 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Viavi Solutions by 39.3% in the third quarter. JPMorgan Chase & Co. now owns 545,446 shares of the communications equipment provider's stock valued at $4,920,000 after acquiring an additional 153,745 shares during the period. Institutional investors own 95.54% of the company's stock.

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Viavi Solutions Price Performance

Shares of VIAV stock traded up $0.15 during trading hours on Friday, hitting $10.94. 1,238,079 shares of the company's stock were exchanged, compared to its average volume of 1,691,066. The company has a market capitalization of $2.43 billion, a PE ratio of -60.77 and a beta of 0.94. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91. The business's 50 day simple moving average is $11.07 and its 200-day simple moving average is $10.04. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94.

Insiders Place Their Bets

In related news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the transaction, the director now directly owns 180,333 shares of the company's stock, valued at $1,805,133.33. The trade was a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,164 shares of company stock valued at $711,422. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on VIAV shares. Northland Securities restated an "outperform" rating and issued a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Morgan Stanley raised their price objective on shares of Viavi Solutions from $9.50 to $10.00 and gave the company an "underweight" rating in a research report on Friday, January 31st. Rosenblatt Securities upgraded shares of Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Friday, March 7th. Stifel Nicolaus restated a "buy" rating and issued a $13.00 price objective (up from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Finally, B. Riley lifted their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.72.

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.