Geode Capital Management LLC Buys 54,633 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Geode Capital Management LLC grew its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,307,974 shares of the communications equipment provider's stock after acquiring an additional 54,633 shares during the period. Geode Capital Management LLC owned about 2.39% of Viavi Solutions worth $47,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Westwood Holdings Group Inc. grew its holdings in Viavi Solutions by 9.2% during the second quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider's stock valued at $49,489,000 after purchasing an additional 606,522 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Viavi Solutions by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider's stock valued at $39,972,000 after buying an additional 661,450 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Viavi Solutions by 65.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider's stock valued at $22,604,000 after acquiring an additional 1,298,394 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Viavi Solutions by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider's stock worth $28,819,000 after acquiring an additional 217,399 shares in the last quarter. Finally, Leeward Investments LLC MA raised its stake in Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider's stock worth $15,385,000 after acquiring an additional 249,554 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VIAV has been the subject of a number of recent analyst reports. Northland Securities upped their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Rosenblatt Securities raised their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a "neutral" rating in a report on Friday, November 1st. Morgan Stanley reaffirmed an "underweight" rating and issued a $9.50 price objective (up previously from $8.00) on shares of Viavi Solutions in a research note on Tuesday, December 17th. Needham & Company LLC reissued a "hold" rating on shares of Viavi Solutions in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Viavi Solutions from a "buy" rating to a "hold" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.44.

Viavi Solutions Price Performance

Shares of Viavi Solutions stock traded up $0.07 during trading hours on Tuesday, reaching $10.33. The company's stock had a trading volume of 473,760 shares, compared to its average volume of 1,780,932. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.49. The firm has a 50 day moving average price of $10.02 and a 200-day moving average price of $8.69. The stock has a market cap of $2.29 billion, a P/E ratio of -60.76 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. On average, analysts predict that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total transaction of $152,100.00. Following the transaction, the director now owns 225,333 shares of the company's stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the sale, the senior vice president now owns 57,319 shares in the company, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,831 shares of company stock worth $345,712 over the last three months. 1.52% of the stock is owned by insiders.

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.