Viavi Solutions Inc. (NASDAQ:VIAV) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 125.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,779 shares of the communications equipment provider's stock after acquiring an additional 124,057 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.10% of Viavi Solutions worth $2,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in VIAV. Capital Performance Advisors LLP bought a new stake in shares of Viavi Solutions in the third quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Viavi Solutions in the second quarter valued at about $38,000. Quarry LP raised its holdings in shares of Viavi Solutions by 419.7% in the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider's stock valued at $50,000 after acquiring an additional 5,838 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions in the second quarter valued at about $52,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Viavi Solutions in the second quarter valued at about $76,000. 95.54% of the stock is currently owned by institutional investors.

Viavi Solutions Stock Performance

NASDAQ VIAV traded up $0.01 during trading hours on Tuesday, reaching $10.19. The stock had a trading volume of 1,472,716 shares, compared to its average volume of 1,787,542. The stock has a fifty day moving average of $9.38 and a 200 day moving average of $8.26. The stock has a market cap of $2.26 billion, a P/E ratio of -60.29 and a beta of 0.90. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. The firm had revenue of $238.20 million for the quarter, compared to analyst estimates of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. Viavi Solutions's revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Sell-side analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the sale, the director now owns 225,333 shares in the company, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the sale, the senior vice president now owns 56,617 shares in the company, valued at approximately $488,604.71. This represents a 12.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,381 shares of company stock worth $562,279 over the last quarter. Insiders own 1.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on VIAV shares. B. Riley reduced their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a "neutral" rating for the company in a report on Friday, August 9th. Rosenblatt Securities boosted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a "neutral" rating in a report on Friday, November 1st. Needham & Company LLC reiterated a "hold" rating on shares of Viavi Solutions in a report on Friday, November 1st. UBS Group started coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They issued a "neutral" rating and a $10.60 target price for the company. Finally, Stifel Nicolaus reduced their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a "buy" rating for the company in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.44.

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.