Raymond James Financial Inc. Buys New Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Raymond James Financial Inc. acquired a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 71,109 shares of the communications equipment provider's stock, valued at approximately $718,000.

A number of other hedge funds also recently bought and sold shares of VIAV. Venturi Wealth Management LLC purchased a new position in shares of Viavi Solutions during the fourth quarter worth approximately $75,000. Smartleaf Asset Management LLC raised its position in Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider's stock worth $84,000 after purchasing an additional 7,434 shares during the period. Park Avenue Securities LLC lifted its stake in Viavi Solutions by 15.4% in the fourth quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider's stock worth $136,000 after purchasing an additional 1,792 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Viavi Solutions by 44.1% during the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider's stock valued at $144,000 after buying an additional 4,875 shares during the period. Finally, Gagnon Securities LLC grew its stake in shares of Viavi Solutions by 23.1% during the fourth quarter. Gagnon Securities LLC now owns 23,949 shares of the communications equipment provider's stock valued at $242,000 after buying an additional 4,491 shares during the last quarter. Institutional investors own 95.54% of the company's stock.

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Viavi Solutions Stock Down 3.3 %

VIAV traded down $0.34 on Thursday, hitting $9.84. The company had a trading volume of 2,491,416 shares, compared to its average volume of 1,764,914. The stock has a fifty day simple moving average of $11.30 and a 200-day simple moving average of $10.42. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The firm has a market capitalization of $2.19 billion, a P/E ratio of -54.66 and a beta of 0.89. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $12.91.

Insider Activity

In other news, Director Masood Jabbar sold 30,000 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the transaction, the director now directly owns 180,333 shares of the company's stock, valued at $1,805,133.33. This represents a 14.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Mcnab sold 9,034 shares of Viavi Solutions stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the sale, the executive vice president now directly owns 38,775 shares of the company's stock, valued at $430,014.75. The trade was a 18.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,164 shares of company stock worth $711,422 over the last three months. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com cut Viavi Solutions from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 18th. UBS Group raised their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a report 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 target for the company in a report on Friday, March 7th. Argus raised their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, February 5th. Finally, Needham & Company LLC raised shares of Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Viavi Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.50.

Viavi Solutions Company 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.