Marshall Wace LLP Sells 1,814,859 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Marshall Wace LLP trimmed its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 98.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,600 shares of the communications equipment provider's stock after selling 1,814,859 shares during the period. Marshall Wace LLP's holdings in Viavi Solutions were worth $135,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Viavi Solutions in the 2nd quarter valued at approximately $38,000. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions in the 2nd quarter valued at approximately $52,000. Headlands Technologies LLC acquired a new stake in shares of Viavi Solutions in the 1st quarter valued at approximately $55,000. Heritage Family Offices LLP acquired a new stake in Viavi Solutions during the 2nd quarter valued at $92,000. Finally, Evergreen Capital Management LLC acquired a new stake in Viavi Solutions during the 2nd quarter valued at $96,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Stock Performance

VIAV traded down $0.01 during trading hours on Monday, hitting $9.19. The stock had a trading volume of 1,011,608 shares, compared to its average volume of 1,792,676. The company's fifty day simple moving average is $8.40 and its 200 day simple moving average is $7.95. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The stock has a market cap of $2.05 billion, a PE ratio of -459.50 and a beta of 0.91. 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 (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.01. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. Equities analysts anticipate that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total value of $55,076.48. Following the transaction, the executive vice president now directly owns 35,631 shares of the company's stock, valued at $267,945.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Paul Mcnab sold 7,324 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total transaction of $55,076.48. Following the transaction, the executive vice president now directly owns 35,631 shares of the company's stock, valued at approximately $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,029 shares of the business's 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 transaction, the senior vice president now directly owns 57,319 shares in the company, valued at $507,846.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,976 shares of company stock valued at $583,012 in the last ninety days. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VIAV. Rosenblatt Securities downgraded Viavi Solutions from a "buy" rating to a "neutral" rating and cut their price target for the company from $10.00 to $8.25 in a report on Wednesday, June 26th. Stifel Nicolaus decreased their price target on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. StockNews.com upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. B. Riley decreased their target price on Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a research report on Friday, August 9th. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.71.

About Viavi Solutions

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.