KLP Kapitalforvaltning AS Acquires Shares of 47,800 Viavi Solutions Inc. (NASDAQ:VIAV)

KLP Kapitalforvaltning AS acquired a new position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,800 shares of the communications equipment provider's stock, valued at approximately $483,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Viavi Solutions by 1.0% during 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 purchasing an additional 54,633 shares during the last quarter. Sanctuary Advisors LLC increased its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider's stock worth $144,000 after buying an additional 4,875 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Viavi Solutions by 4.4% during the fourth 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 in the last quarter. Amundi raised its holdings in Viavi Solutions by 185.5% during the fourth quarter. Amundi now owns 111,730 shares of the communications equipment provider's stock valued at $1,132,000 after buying an additional 72,599 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Viavi Solutions by 836.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after buying an additional 7,434 shares during the last quarter. Institutional investors own 95.54% of the company's stock.

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Insiders Place Their Bets

In related news, SVP James L. Veler, Jr. sold 13,807 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.86, for a total value of $149,944.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Mcnab sold 9,034 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total transaction of $100,187.06. Following the transaction, the executive vice president now 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. In the last quarter, insiders sold 67,164 shares of company stock worth $711,422. 1.52% of the stock is currently owned by company insiders.

Viavi Solutions Stock Performance

VIAV stock traded up $0.35 during trading on Tuesday, reaching $10.24. 140,005 shares of the stock were exchanged, compared to its average volume of 1,742,105. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $15.18. 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 $2.27 billion, a P/E ratio of -56.74 and a beta of 0.89. The stock has a 50 day simple moving average of $11.39 and a 200-day simple moving average of $10.40.

Analyst Ratings Changes

A number of research analysts recently weighed in on VIAV shares. Morgan Stanley raised their price objective on Viavi Solutions from $9.50 to $10.00 and gave the company an "underweight" rating in a research note on Friday, January 31st. 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. Rosenblatt Securities raised shares of Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a report on Friday, March 7th. StockNews.com downgraded shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. Finally, UBS Group upped their price target on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.72.

About Viavi Solutions

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.