Sei Investments Co. Sells 75,989 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Sei Investments Co. decreased its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 27.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,842 shares of the communications equipment provider's stock after selling 75,989 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Viavi Solutions worth $1,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VIAV. Innealta Capital LLC purchased a new stake in Viavi Solutions in the 2nd quarter valued at about $38,000. Summit Securities Group LLC acquired a new position in shares of Viavi Solutions in the 2nd quarter valued at about $52,000. Headlands Technologies LLC acquired a new position in shares of Viavi Solutions in the 1st quarter valued at about $55,000. Heritage Family Offices LLP acquired a new position in shares of Viavi Solutions in the 2nd quarter valued at about $92,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Viavi Solutions in the 1st quarter valued at about $99,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Stock Performance

VIAV stock traded down $0.10 during trading on Monday, reaching $8.95. 393,041 shares of the company's stock were exchanged, compared to its average volume of 1,796,807. The company has a quick ratio of 3.16, a current ratio of 3.55 and a debt-to-equity ratio of 0.93. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The company's fifty day moving average price is $8.24 and its 200-day moving average price is $7.96. The firm has a market cap of $2.00 billion, a PE ratio of -452.50 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. The business had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. On average, research analysts expect that Viavi Solutions Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company's stock, valued at approximately $507,846.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Masood Jabbar sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 243,514 shares in the company, valued at $1,989,509.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the sale, the senior vice president now owns 57,319 shares of the company's stock, valued at approximately $507,846.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,976 shares of company stock valued at $583,012. Company insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VIAV shares. B. Riley reduced their price objective on Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus reduced their price objective on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reissued a "hold" rating on shares of Viavi Solutions in a research report on Friday, August 9th. Rosenblatt Securities lowered Viavi Solutions from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $10.00 to $8.25 in a research report on Wednesday, June 26th. Finally, StockNews.com upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $10.71.

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.