UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 401,829 shares of the communications equipment provider's stock after selling 63,706 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of Viavi Solutions worth $3,624,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in VIAV. Federated Hermes Inc. lifted its holdings in Viavi Solutions by 98,561.6% in the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider's stock worth $1,288,000 after acquiring an additional 187,267 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Viavi Solutions by 1.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider's stock worth $772,000 after purchasing an additional 2,100 shares during the last quarter. Leeward Investments LLC MA boosted its position in Viavi Solutions by 17.1% during the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider's stock valued at $15,385,000 after purchasing an additional 249,554 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Viavi Solutions by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,194,959 shares of the communications equipment provider's stock worth $28,819,000 after buying an additional 217,399 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Viavi Solutions in the third quarter valued at $105,000. 95.54% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the transaction, the director now owns 213,514 shares in the company, valued at approximately $1,957,923.38. This represents a 6.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 57,319 shares in the company, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,831 shares of company stock valued at $468,712 over the last quarter. 1.52% of the stock is owned by company insiders.
Viavi Solutions Price Performance
Viavi Solutions stock traded down $0.06 during midday trading on Friday, reaching $11.05. 3,212,446 shares of the company's stock were exchanged, compared to its average volume of 1,769,552. The stock's 50-day simple moving average is $9.80 and its 200 day simple moving average is $8.50. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.49.
Viavi Solutions (NASDAQ:VIAV - Get Free Report) last posted its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The company had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same quarter last year, the firm earned $0.05 earnings per share. The company's revenue was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on VIAV shares. StockNews.com upgraded Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Friday, December 6th. Rosenblatt Securities boosted their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a research report on Friday, November 1st. UBS Group assumed coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They set a "neutral" rating and a $10.60 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Viavi Solutions in a research report on Friday, November 1st. Finally, Northland Securities lifted their price target on Viavi Solutions from $11.00 to $13.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Viavi Solutions has a consensus rating of "Moderate Buy" and a consensus target price of $10.44.
Check Out Our Latest Research Report on Viavi Solutions
About Viavi Solutions
(
Free Report)
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.
See Also
Before you consider Viavi Solutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Viavi Solutions wasn't on the list.
While Viavi Solutions currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.