Rothschild & Co. Asset Management US Inc. cut its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,163,856 shares of the communications equipment provider’s stock after selling 347,681 shares during the period. Rothschild & Co. Asset Management US Inc. owned about 0.94% of Viavi Solutions worth $25,382,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of VIAV. Oregon Public Employees Retirement Fund lifted its stake in Viavi Solutions by 0.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 93,416 shares of the communications equipment provider’s stock worth $1,096,000 after acquiring an additional 800 shares during the period. Mutual of America Capital Management LLC lifted its stake in Viavi Solutions by 9.5% in the second quarter. Mutual of America Capital Management LLC now owns 11,078 shares of the communications equipment provider’s stock worth $141,000 after acquiring an additional 959 shares during the period. Gagnon Securities LLC lifted its stake in Viavi Solutions by 11.6% in the second quarter. Gagnon Securities LLC now owns 11,290 shares of the communications equipment provider’s stock worth $144,000 after acquiring an additional 1,177 shares during the period. Private Advisor Group LLC purchased a new stake in Viavi Solutions in the second quarter worth about $25,000. Finally, Assetmark Inc. purchased a new stake in Viavi Solutions in the second quarter worth about $31,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.
In related news, SVP Gary W. Staley sold 6,717 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.13, for a total value of $88,194.21. Following the transaction, the senior vice president now owns 51,758 shares in the company, valued at approximately $679,582.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin Christopher Siebert sold 15,315 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $11.86, for a total transaction of $181,635.90. Following the completion of the transaction, the senior vice president now owns 64,046 shares in the company, valued at approximately $759,585.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,547 shares of company stock worth $489,893. Corporate insiders own 1.10% of the company’s stock.
Shares of VIAV stock traded down $0.21 during mid-day trading on Tuesday, hitting $13.14. 21,166 shares of the stock traded hands, compared to its average volume of 2,425,704. The stock has a market cap of $3.06 billion, a P/E ratio of 102.70 and a beta of 0.85. The stock’s fifty day moving average is $12.57 and its two-hundred day moving average is $12.63. Viavi Solutions Inc. has a 52-week low of $8.08 and a 52-week high of $16.10. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.92 and a quick ratio of 3.57.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Viavi Solutions had a net margin of 2.53% and a return on equity of 18.00%. The firm had revenue of $284.70 million for the quarter, compared to the consensus estimate of $276.57 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Viavi Solutions Inc. will post 0.52 EPS for the current fiscal year.
A number of analysts recently weighed in on VIAV shares. TheStreet lowered shares of Viavi Solutions from a “b-” rating to a “c” rating in a research note on Thursday, September 24th. BidaskClub raised shares of Viavi Solutions from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 22nd. Morgan Stanley upped their price objective on shares of Viavi Solutions from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Northland Securities increased their price target on shares of Viavi Solutions from $14.00 to $15.50 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.93.
Viavi Solutions Company Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, government, civil, military, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.
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