Viavi Solutions Inc. (NASDAQ:VIAV) Stock Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 198.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,400 shares of the communications equipment provider's stock after buying an additional 104,700 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of Viavi Solutions worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in VIAV. Wellington Management Group LLP lifted its holdings in shares of Viavi Solutions by 26.3% during the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock worth $198,108,000 after acquiring an additional 4,085,648 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Viavi Solutions by 1.6% in the 4th quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock valued at $70,972,000 after purchasing an additional 112,978 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Viavi Solutions by 14.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider's stock valued at $35,106,000 after buying an additional 435,265 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Viavi Solutions by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider's stock worth $33,682,000 after buying an additional 139,934 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Viavi Solutions in the 4th quarter worth $16,722,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Stock Performance

Shares of NASDAQ VIAV traded up $0.01 during trading on Tuesday, reaching $10.53. The stock had a trading volume of 1,623,181 shares, compared to its average volume of 1,772,443. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The stock has a market cap of $2.34 billion, a PE ratio of -58.50 and a beta of 0.89. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $12.91. The firm's 50 day moving average price is $10.71 and its two-hundred day moving average price is $10.51.

Insider Activity at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 14,323 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, the senior vice president now directly owns 55,877 shares of the company's stock, valued at $628,057.48. This represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders sold 37,164 shares of company stock worth $411,122 in the last 90 days. 1.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VIAV. Needham & Company LLC upgraded Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a report on Friday, January 31st. Stifel Nicolaus reiterated a "buy" rating and issued a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. StockNews.com downgraded shares of Viavi Solutions from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 18th. Morgan Stanley cut their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Northland Securities restated an "outperform" rating and set a $14.00 target price (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Viavi Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $12.28.

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.