California Public Employees Retirement System lowered its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 616,200 shares of the company’s stock after selling 9,300 shares during the period. California Public Employees Retirement System owned 0.27% of Viavi Solutions worth $4,554,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Alpha Windward LLC bought a new position in Viavi Solutions during the third quarter valued at $411,000. Fisher Asset Management LLC increased its position in Viavi Solutions by 17.7% in the third quarter. Fisher Asset Management LLC now owns 773,413 shares of the company’s stock valued at $5,716,000 after buying an additional 116,100 shares during the period. Mason Street Advisors LLC bought a new position in Viavi Solutions during the second quarter valued at $301,000. Schwab Charles Investment Management Inc. increased its position in Viavi Solutions by 66.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,040,617 shares of the company’s stock valued at $6,900,000 after buying an additional 416,706 shares during the period. Finally, Stifel Financial Corp bought a new position in Viavi Solutions during the second quarter valued at $436,000. Institutional investors own 88.08% of the company’s stock.
Shares of Viavi Solutions Inc. (NASDAQ:VIAV) traded down 0.50% during midday trading on Friday, hitting $8.01. The stock had a trading volume of 824,371 shares. Viavi Solutions Inc. has a 52-week low of $4.68 and a 52-week high of $8.07. The stock has a market cap of $1.84 billion, a PE ratio of 39.26 and a beta of 1.59. The firm has a 50 day moving average price of $7.49 and a 200-day moving average price of $7.20.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Viavi Solutions had a net margin of 5.16% and a return on equity of 8.25%. The company had revenue of $210.80 million for the quarter, compared to analyst estimates of $208.14 million. During the same period in the prior year, the company earned $0.08 earnings per share. The firm’s revenue was down 8.2% on a year-over-year basis. Equities analysts predict that Viavi Solutions Inc. will post $0.33 EPS for the current fiscal year.
A number of equities research analysts have commented on VIAV shares. TheStreet raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, November 16th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, November 7th. B. Riley reissued a “neutral” rating and set a $6.75 price target on shares of Viavi Solutions in a report on Saturday, November 5th. Zacks Investment Research cut Viavi Solutions from a “hold” rating to a “sell” rating in a report on Thursday, October 13th. Finally, JPMorgan Chase & Co. raised Viavi Solutions from a “neutral” rating to an “overweight” rating and raised their price target for the company from $7.50 to $10.00 in a report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $7.83.
In other news, SVP Luke M. Scrivanich sold 34,299 shares of the stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $7.31, for a total transaction of $250,725.69. Following the sale, the senior vice president now directly owns 41,438 shares of the company’s stock, valued at approximately $302,911.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Susan Louise Spradley sold 15,766 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $7.50, for a total transaction of $118,245.00. Following the sale, the senior vice president now directly owns 1,752 shares in the company, valued at $13,140. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
Viavi Solutions Company Profile
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.