Prudential Financial Inc. Cuts Stock Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Prudential Financial Inc. lessened its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 348,155 shares of the communications equipment provider's stock after selling 52,975 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Viavi Solutions worth $3,516,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VIAV. LPL Financial LLC boosted its position in Viavi Solutions by 17.9% during the fourth quarter. LPL Financial LLC now owns 38,823 shares of the communications equipment provider's stock valued at $392,000 after purchasing an additional 5,891 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Viavi Solutions in the 4th quarter worth approximately $483,000. Sei Investments Co. raised its stake in shares of Viavi Solutions by 5.2% during the 4th quarter. Sei Investments Co. now owns 409,163 shares of the communications equipment provider's stock worth $4,132,000 after acquiring an additional 20,197 shares in the last quarter. American Century Companies Inc. lifted its position in Viavi Solutions by 100.9% during the fourth quarter. American Century Companies Inc. now owns 409,337 shares of the communications equipment provider's stock valued at $4,134,000 after acquiring an additional 205,546 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Viavi Solutions by 11.5% in the 4th quarter. Xponance Inc. now owns 15,977 shares of the communications equipment provider's stock worth $161,000 after purchasing an additional 1,649 shares in the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total transaction of $100,187.06. Following the completion of the transaction, the executive vice president now directly owns 38,775 shares in the company, valued at approximately $430,014.75. This represents a 18.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the business's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total transaction of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares in the company, valued at approximately $1,805,133.33. This trade represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,164 shares of company stock valued at $711,422. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on VIAV shares. Northland Securities restated an "outperform" rating and set a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Rosenblatt Securities upgraded shares of Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a research note on Friday, March 7th. Needham & Company LLC raised Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Friday, January 31st. B. Riley lifted their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, UBS Group increased their target price on Viavi Solutions from $10.60 to $11.50 and gave the company a "neutral" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $12.72.

Viavi Solutions Trading Down 8.5 %

NASDAQ VIAV traded down $0.97 on Thursday, reaching $10.44. 2,484,930 shares of the company were exchanged, compared to its average volume of 1,735,921. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The business's fifty day moving average price is $11.40 and its 200 day moving average price is $10.35. The stock has a market capitalization of $2.32 billion, a P/E ratio of -58.00 and a beta of 0.89. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $12.91.

Viavi Solutions Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.