Kovack Advisors Inc. Buys 51,800 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Kovack Advisors Inc. grew its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 33.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 206,200 shares of the communications equipment provider's stock after acquiring an additional 51,800 shares during the quarter. Kovack Advisors Inc. owned about 0.09% of Viavi Solutions worth $1,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VIAV. Capital World Investors grew its stake in shares of Viavi Solutions by 305.4% during the first quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider's stock valued at $110,548,000 after acquiring an additional 9,161,535 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of Viavi Solutions in the first quarter valued at approximately $29,526,000. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider's stock valued at $39,972,000 after purchasing an additional 661,450 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its position in shares of Viavi Solutions by 9.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider's stock worth $49,489,000 after buying an additional 606,522 shares in the last quarter. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Price Performance

VIAV traded down $0.08 during midday trading on Wednesday, hitting $10.23. The company had a trading volume of 1,202,192 shares, compared to its average volume of 1,800,289. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The firm's 50-day simple moving average is $9.10 and its 200-day simple moving average is $8.13. The company has a market capitalization of $2.27 billion, a PE ratio of -60.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VIAV shares. B. Riley cut their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating for the company in a report on Friday, August 9th. Needham & Company LLC reissued a "hold" rating on shares of Viavi Solutions in a research note on Friday, November 1st. StockNews.com upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday. Stifel Nicolaus cut their price target on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a research note on Tuesday, August 6th. Finally, Northland Securities raised their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $10.42.

Insider Buying and Selling

In related news, EVP Paul Mcnab sold 5,920 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the sale, the executive vice president now owns 34,545 shares in the company, valued at $291,905.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Viavi Solutions news, EVP Paul Mcnab sold 5,920 shares of Viavi Solutions stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $8.45, for a total value of $50,024.00. Following the sale, the executive vice president now owns 34,545 shares of the company's stock, valued at $291,905.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the transaction, the director now owns 243,514 shares of the company's stock, valued at $1,989,509.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,652 shares of company stock valued at $665,485 over the last ninety days. Insiders own 1.52% of the company's stock.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.