Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by State Street Corp

State Street Corp trimmed its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,764,884 shares of the communications equipment provider's stock after selling 69,876 shares during the period. State Street Corp owned approximately 3.95% of Viavi Solutions worth $79,059,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VIAV. Louisiana State Employees Retirement System boosted its stake in shares of Viavi Solutions by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider's stock valued at $772,000 after buying an additional 2,100 shares during the last quarter. nVerses Capital LLC raised its holdings in Viavi Solutions by 24.0% in the third quarter. nVerses Capital LLC now owns 11,900 shares of the communications equipment provider's stock valued at $107,000 after acquiring an additional 2,300 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Viavi Solutions during the 3rd quarter valued at $25,000. KBC Group NV grew its holdings in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider's stock worth $85,000 after acquiring an additional 3,252 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Viavi Solutions by 7.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider's stock worth $530,000 after purchasing an additional 4,043 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company's stock.

Viavi Solutions Stock Performance

VIAV traded down $0.37 during trading on Wednesday, reaching $10.15. 1,859,455 shares of the company were exchanged, compared to its average volume of 1,777,122. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.49. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average of $9.91 and a 200 day moving average of $8.59. The stock has a market cap of $2.25 billion, a P/E ratio of -59.70 and a beta of 0.92.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. The business had revenue of $238.20 million for the quarter, compared to analysts' expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. On average, sell-side analysts forecast that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on VIAV shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Viavi Solutions in a research report on Monday. Morgan Stanley reaffirmed an "underweight" rating and set a $9.50 target price (up previously from $8.00) on shares of Viavi Solutions in a report on Tuesday. Northland Securities lifted their target price on Viavi Solutions from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Rosenblatt Securities upped their price target on Viavi Solutions from $8.25 to $10.50 and gave the company a "neutral" rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus raised their price objective on Viavi Solutions from $10.50 to $12.00 and gave the stock a "buy" rating in a research note on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Viavi Solutions currently has a consensus rating of "Hold" and a consensus price target of $10.44.

Insider Buying and Selling at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the 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 owns 57,319 shares in the company, valued at $507,846.34. This represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the business's 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 sale, the director now owns 213,514 shares in the company, valued at $1,957,923.38. This trade represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,831 shares of company stock worth $345,712. 1.52% of the stock is owned by company 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.