Assenagon Asset Management S.A. Sells 310,050 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Assenagon Asset Management S.A. reduced its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 27.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 811,310 shares of the communications equipment provider's stock after selling 310,050 shares during the period. Assenagon Asset Management S.A. owned about 0.37% of Viavi Solutions worth $7,318,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VIAV. Innealta Capital LLC bought a new stake in shares of Viavi Solutions in the 2nd quarter worth about $38,000. Headlands Technologies LLC acquired a new stake in shares of Viavi Solutions during the first quarter worth approximately $55,000. Quarry LP increased its holdings in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock worth $50,000 after buying an additional 5,838 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Viavi Solutions in the second quarter valued at approximately $52,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Viavi Solutions in the 1st quarter worth approximately $99,000. Institutional investors own 95.54% of the company's stock.

Insider Buying and Selling

In other Viavi Solutions 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now directly owns 213,514 shares in the company, valued at approximately $1,957,923.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the transaction, the senior vice president now directly owns 57,319 shares of the company's stock, valued at approximately $507,846.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,976 shares of company stock valued at $720,562 over the last three months. Company insiders own 1.80% of the company's stock.

Viavi Solutions Trading Up 2.5 %

Viavi Solutions stock traded up $0.23 during trading hours on Tuesday, reaching $9.48. 1,552,111 shares of the company's stock traded hands, compared to its average volume of 1,763,081. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -470.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32. The firm's 50 day moving average is $8.71 and its 200-day moving average is $7.98.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $251.83 million. On average, analysts predict that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Analyst Ratings Changes

VIAV has been the subject of several research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a research report on Friday, August 9th. Stifel Nicolaus reduced 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 report on Tuesday, August 6th. B. Riley lowered their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating for the company in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.71.

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.