Tributary Capital Management LLC Sells 165,792 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Tributary Capital Management LLC reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,116,122 shares of the communications equipment provider's stock after selling 165,792 shares during the period. Tributary Capital Management LLC owned approximately 0.50% of Viavi Solutions worth $10,067,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $38,000. Quarry LP boosted its holdings in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock worth $50,000 after acquiring an additional 5,838 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $52,000. Headlands Technologies LLC acquired a new position in shares of Viavi Solutions in the 1st quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Viavi Solutions in the 2nd quarter worth approximately $76,000. 95.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of the firm'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 transaction of $26,836.94. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Paul Mcnab sold 7,324 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Luke M. Scrivanich sold 3,029 shares of the firm's stock in a transaction that occurred on 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 directly owns 57,319 shares in the company, valued at $507,846.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,976 shares of company stock worth $720,562 over the last three months. Insiders own 1.80% of the company's stock.

Wall Street Analysts Forecast Growth

VIAV has been the topic of several research reports. 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 report on Friday, August 9th. StockNews.com raised Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Tuesday, September 10th. Needham & Company LLC reissued a "hold" rating on shares of Viavi Solutions in a research note on Friday, August 9th. Finally, Stifel Nicolaus cut their price target 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. 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, the company presently has an average rating of "Moderate Buy" and an average price target of $10.71.

Viavi Solutions Trading Up 1.2 %

Shares of VIAV traded up $0.11 during trading hours on Monday, reaching $9.25. The stock had a trading volume of 1,256,411 shares, compared to its average volume of 1,761,589. 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 52 week low of $6.60 and a 52 week high of $11.32. The firm has a 50-day moving average of $8.68 and a 200 day moving average of $7.97. The company has a market cap of $2.06 billion, a P/E ratio of -463.00 and a beta of 0.91.

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

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.