Millennium Management LLC Has $2.72 Million Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Millennium Management LLC increased its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 41.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 396,227 shares of the communications equipment provider's stock after purchasing an additional 116,355 shares during the quarter. Millennium Management LLC owned approximately 0.18% of Viavi Solutions worth $2,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Viavi Solutions by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider's stock worth $166,796,000 after acquiring an additional 638,309 shares during the period. Vanguard Group Inc. increased its holdings in Viavi Solutions by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider's stock valued at $289,411,000 after purchasing an additional 451,354 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Viavi Solutions by 7.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 60,671 shares of the communications equipment provider's stock valued at $611,000 after purchasing an additional 4,028 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Viavi Solutions in the first quarter valued at about $99,000. Finally, Tributary Capital Management LLC boosted its holdings in Viavi Solutions by 0.4% during the first quarter. Tributary Capital Management LLC now owns 1,281,988 shares of the communications equipment provider's stock worth $11,653,000 after buying an additional 5,505 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VIAV shares. Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a research report on Friday, August 9th. B. Riley decreased 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. Rosenblatt Securities cut shares of Viavi Solutions from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $10.00 to $8.25 in a research report on Wednesday, June 26th. StockNews.com upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus lowered their price target on Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a report on Tuesday, August 6th. Five research 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.71.

Insider Activity at Viavi Solutions

In other news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares in the company, valued at $1,957,923.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Kevin Christopher Siebert sold 8,432 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the transaction, the senior vice president now directly owns 56,617 shares in the company, valued at approximately $488,604.71. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the sale, the director now directly owns 213,514 shares in the company, valued at $1,957,923.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,976 shares of company stock valued at $720,562. Corporate insiders own 1.80% of the company's stock.

Viavi Solutions Stock Up 0.5 %

Shares of NASDAQ:VIAV traded up $0.05 during mid-day trading on Wednesday, reaching $9.25. 971,566 shares of the stock were exchanged, compared to its average volume of 1,788,070. The stock's 50 day simple moving average is $8.44 and its 200-day simple moving average is $7.95. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.32. The company has a market cap of $2.06 billion, a P/E ratio of -462.50 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 released its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. As a group, equities research analysts predict that Viavi Solutions Inc. will post 0.17 EPS for the current year.

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.