Quantitative Investment Management LLC acquired a new stake in Viavi Solutions Inc. (NASDAQ:VIAV) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 130,300 shares of the company’s stock, valued at approximately $962,000. Quantitative Investment Management LLC owned about 0.06% of Viavi Solutions at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Nuveen Asset Management LLC bought a new stake in shares of Viavi Solutions during the second quarter valued at approximately $103,000. World Asset Management Inc increased its stake in shares of Viavi Solutions by 33.2% in the third quarter. World Asset Management Inc now owns 15,599 shares of the company’s stock valued at $115,000 after buying an additional 3,886 shares during the period. Hsbc Holdings PLC increased its stake in shares of Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Viavi Solutions during the second quarter valued at approximately $121,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Viavi Solutions by 152.0% in the second quarter. Tower Research Capital LLC TRC now owns 19,559 shares of the company’s stock valued at $130,000 after buying an additional 11,799 shares during the period. 88.08% of the stock is owned by hedge funds and other institutional investors.
Viavi Solutions Inc. (NASDAQ:VIAV) traded down 0.50% during mid-day trading on Friday, reaching $8.01. The company’s stock had a trading volume of 824,371 shares. The firm has a market cap of $1.84 billion, a PE ratio of 39.26 and a beta of 1.59. The company has a 50-day moving average price of $7.49 and a 200-day moving average price of $7.20. Viavi Solutions Inc. has a 12-month low of $4.68 and a 12-month high of $8.07.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.02. The business had revenue of $210.80 million for the quarter, compared to analysts’ expectations of $208.14 million. Viavi Solutions had a return on equity of 8.25% and a net margin of 5.16%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. On average, equities research analysts expect that Viavi Solutions Inc. will post $0.33 earnings per share for the current year.
Several analysts have recently commented on the company. B. Riley assumed coverage on Viavi Solutions in a research note on Monday, October 31st. They issued a “neutral” rating and a $7.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, September 20th. Zacks Investment Research downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, September 3rd. Morgan Stanley reaffirmed a “hold” rating and set a $6.00 price target on shares of Viavi Solutions in a research report on Friday, August 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Viavi Solutions in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.83.
In other news, SVP Luke M. Scrivanich sold 34,299 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $7.31, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 36,690 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $7.40, for a total value of $271,506.00. Following the completion of the sale, the executive vice president now directly owns 27,936 shares in the company, valued at $206,726.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
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.