Geode Capital Management LLC Sells 26,223 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Geode Capital Management LLC reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,281,751 shares of the communications equipment provider's stock after selling 26,223 shares during the period. Geode Capital Management LLC owned 2.38% of Viavi Solutions worth $53,359,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in VIAV. Wellington Management Group LLP increased its position in Viavi Solutions by 26.3% in the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider's stock valued at $198,108,000 after buying an additional 4,085,648 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Viavi Solutions by 1.6% during the fourth quarter. Schroder Investment Management Group now owns 7,040,890 shares of the communications equipment provider's stock worth $70,972,000 after purchasing an additional 112,978 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Viavi Solutions in the 4th quarter worth $15,268,000. WINTON GROUP Ltd acquired a new stake in Viavi Solutions in the 4th quarter valued at $444,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Viavi Solutions during the 4th quarter valued at $16,722,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Insider Buying and Selling

In related news, EVP Paul Mcnab sold 9,034 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $11.09, for a total transaction of $100,187.06. Following the completion of the transaction, the executive vice president now directly owns 38,775 shares in the company, valued at $430,014.75. The trade was a 18.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,164 shares of company stock valued at $411,122. Corporate insiders own 1.52% of the company's stock.

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Viavi Solutions Stock Performance

VIAV traded up $0.01 on Tuesday, hitting $10.06. The company's stock had a trading volume of 1,285,484 shares, compared to its average volume of 1,769,702. The company's 50 day simple moving average is $11.14 and its 200-day simple moving average is $10.44. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91. The firm has a market cap of $2.23 billion, a P/E ratio of -55.89 and a beta of 0.89.

Wall Street Analyst Weigh In

VIAV has been the subject of several recent research reports. UBS Group boosted their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Rosenblatt Securities raised Viavi Solutions from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research report on Friday, March 7th. Argus raised their price objective on Viavi Solutions from $13.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Needham & Company LLC raised shares of Viavi Solutions from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Friday, January 31st. Finally, B. Riley increased their price objective on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. One 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.com, Viavi Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price 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.