Viavi Solutions Inc. (VIAV) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC lessened its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 63.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,304 shares of the communications equipment provider’s stock after selling 47,647 shares during the quarter. SG Americas Securities LLC’s holdings in Viavi Solutions were worth $288,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new position in shares of Viavi Solutions during the second quarter valued at approximately $109,000. Creative Planning increased its stake in shares of Viavi Solutions by 177.9% during the second quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock valued at $119,000 after acquiring an additional 7,235 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Viavi Solutions during the first quarter valued at approximately $148,000. World Asset Management Inc increased its stake in shares of Viavi Solutions by 1.1% during the second quarter. World Asset Management Inc now owns 14,912 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 155 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its stake in shares of Viavi Solutions by 45.3% during the second quarter. Quantitative Systematic Strategies LLC now owns 17,831 shares of the communications equipment provider’s stock valued at $188,000 after acquiring an additional 5,555 shares during the period. Institutional investors and hedge funds own 92.53% of the company’s stock.
In related news, SVP Ralph Rondinone sold 4,569 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $9.83, for a total transaction of $44,913.27. Following the completion of the sale, the senior vice president now directly owns 7,239 shares of the company’s stock, valued at $71,159.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul Mcnab sold 8,915 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $10.04, for a total transaction of $89,506.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,797 shares of company stock valued at $249,912. 0.35% of the stock is currently owned by insiders.
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Viavi Solutions Inc. (NASDAQ:VIAV) opened at 9.79 on Friday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 13.85 and a beta of 1.35. Viavi Solutions Inc. has a 52-week low of $6.99 and a 52-week high of $11.89. The firm has a 50-day moving average of $10.39 and a 200 day moving average of $10.62.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.03. The business had revenue of $198.10 million during the quarter, compared to the consensus estimate of $196.22 million. Viavi Solutions had a net margin of 20.57% and a return on equity of 8.46%. Viavi Solutions’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts forecast that Viavi Solutions Inc. will post $0.41 earnings per share for the current year.
A number of research firms recently commented on VIAV. B. Riley reiterated a “buy” rating and set a $14.00 price objective on shares of Viavi Solutions in a research note on Thursday, August 10th. BidaskClub lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, June 27th. Stifel Nicolaus reiterated a “hold” rating and set a $11.00 price objective on shares of Viavi Solutions in a research note on Wednesday, August 16th. Finally, MKM Partners raised their price objective on shares of Viavi Solutions from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.34.
About Viavi Solutions
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.
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