Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 83.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,377 shares of the communications equipment provider's stock after selling 167,061 shares during the quarter. Mutual of America Capital Management LLC's holdings in Viavi Solutions were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Viavi Solutions in the third quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Viavi Solutions in the 2nd quarter valued at approximately $38,000. Quarry LP increased its position in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock worth $50,000 after purchasing an additional 5,838 shares during the period. Summit Securities Group LLC acquired a new position in Viavi Solutions during the 2nd quarter worth approximately $52,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Viavi Solutions during the 2nd quarter worth approximately $76,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Viavi Solutions

In related news, EVP Paul Mcnab sold 5,920 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $8.45, for a total transaction of $50,024.00. Following the transaction, the executive vice president now directly owns 34,545 shares in the company, valued at approximately $291,905.25. This represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $8.20, for a total value of $123,000.00. Following the completion of the sale, the director now owns 228,514 shares of the company's stock, valued at $1,873,814.80. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,949 shares of company stock valued at $489,511. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VIAV shares. Rosenblatt Securities lifted their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a "neutral" rating in a research note on Friday, November 1st. Stifel Nicolaus lowered their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. UBS Group initiated coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a "neutral" rating and a $10.60 price target for the company. StockNews.com downgraded shares of Viavi Solutions from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Northland Securities increased their target price 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. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Viavi Solutions presently has a consensus rating of "Hold" and a consensus target price of $10.44.

Viavi Solutions Price Performance

Shares of VIAV stock traded up $0.06 during trading hours on Friday, hitting $9.94. The company's stock had a trading volume of 588,071 shares, compared to its average volume of 1,778,391. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $9.47 and a 200-day moving average of $8.31. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.32. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -58.11 and a beta of 0.90.

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

Viavi Solutions 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.