Principal Financial Group Inc. Sells 54,831 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Principal Financial Group Inc. lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,046,054 shares of the communications equipment provider's stock after selling 54,831 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Viavi Solutions worth $9,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of VIAV. Innealta Capital LLC bought a new stake in shares of Viavi Solutions in the 2nd quarter worth about $38,000. Quarry LP increased its holdings in shares of Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock valued at $50,000 after purchasing an additional 5,838 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Viavi Solutions in the 2nd quarter worth $52,000. Sanctuary Advisors LLC purchased a new stake in shares of Viavi Solutions during the second quarter worth $76,000. Finally, Heritage Family Offices LLP acquired a new position in shares of Viavi Solutions during the 2nd quarter valued at about $92,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Stock Performance

NASDAQ VIAV traded down $0.11 during trading on Tuesday, hitting $9.69. 298,726 shares of the company's stock traded hands, compared to its average volume of 1,791,590. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -57.64 and a beta of 0.90. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $11.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. The business has a 50 day moving average of $9.21 and a 200-day moving average of $8.17.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The business had revenue of $238.20 million during the quarter, compared to analyst estimates of $240.09 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

VIAV has been the topic of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of Viavi Solutions in a research note on Friday, November 1st. 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 research report on Friday, August 9th. Northland Securities upped their target price on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus decreased their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Finally, Rosenblatt Securities upped their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. Six 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, Viavi Solutions has an average rating of "Moderate Buy" and a consensus price target of $10.44.

Insiders Place Their Bets

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the company's 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 completion of the sale, the senior vice president now directly owns 57,319 shares of the company's stock, valued at $507,846.34. This represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $245,100.00. Following the transaction, the director now directly owns 243,514 shares of the company's stock, valued at approximately $1,989,509.38. This trade represents a 10.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,652 shares of company stock valued at $817,585 in the last quarter. 1.52% of the stock is currently owned by insiders.

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.