State Board of Administration of Florida Retirement System Decreases Stake in Viavi Solutions Inc. (VIAV)
State Board of Administration of Florida Retirement System decreased its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 39.6% during the second quarter, Holdings Channel reports. The firm owned 184,319 shares of the company’s stock after selling 120,940 shares during the period. State Board of Administration of Florida Retirement System owned 0.08% of Viavi Solutions worth $1,222,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Viavi Solutions during the fourth quarter valued at $7,907,000. Fisher Asset Management LLC acquired a new stake in Viavi Solutions during the first quarter valued at $3,641,000. Texas Permanent School Fund purchased a new stake in shares of Viavi Solutions during the first quarter valued at approximately $1,271,000. Aperio Group LLC purchased a new stake in shares of Viavi Solutions during the first quarter valued at approximately $427,000. Finally, Pacad Investment Ltd. purchased a new stake in shares of Viavi Solutions during the first quarter valued at approximately $217,000. Hedge funds and other institutional investors own 87.21% of the company’s stock.
Viavi Solutions Inc. (NASDAQ:VIAV) traded down 1.48% on Tuesday, hitting $7.31. 1,261,195 shares of the company were exchanged. The stock has a 50 day moving average price of $7.55 and a 200 day moving average price of $6.93. The firm’s market cap is $1.70 billion. Viavi Solutions Inc. has a one year low of $4.68 and a one year high of $7.94.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $224.10 million for the quarter, compared to analyst estimates of $220.39 million. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts forecast that Viavi Solutions Inc. will post $0.35 EPS for the current fiscal year.
VIAV has been the topic of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Monday, August 15th. William Blair restated an “outperform” rating on shares of Viavi Solutions in a research note on Friday. B. Riley lowered shares of Viavi Solutions to a “neutral” rating and set a $6.75 price target on the stock. in a research note on Saturday, July 2nd. Zacks Investment Research lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 3rd. Finally, Jefferies Group raised their price target on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.45.
In other Viavi Solutions news, SVP Ralph Rondinone sold 10,573 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $7.59, for a total value of $80,249.07. Following the sale, the senior vice president now directly owns 15,664 shares in the company, valued at approximately $118,889.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Susan Louise Spradley sold 15,766 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $7.50, for a total transaction of $118,245.00. Following the completion of the sale, the senior vice president now owns 1,752 shares in the company, valued at $13,140. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by company insiders.
Viavi Solutions Company Profile
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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