EAM Investors LLC Sells 20,088 Shares of Viavi Solutions Inc. (VIAV)
EAM Investors LLC decreased its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 6.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 282,883 shares of the communications equipment provider’s stock after selling 20,088 shares during the period. EAM Investors LLC owned 0.12% of Viavi Solutions worth $2,979,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its stake in Viavi Solutions by 48,994.6% in the 1st quarter. BlackRock Inc. now owns 30,339,979 shares of the communications equipment provider’s stock worth $325,243,000 after acquiring an additional 30,278,180 shares during the last quarter. Teachers Advisors LLC increased its stake in Viavi Solutions by 568.2% in the 1st quarter. Teachers Advisors LLC now owns 2,600,431 shares of the communications equipment provider’s stock worth $27,877,000 after acquiring an additional 2,211,252 shares during the last quarter. Victory Capital Management Inc. bought a new position in Viavi Solutions in the 2nd quarter worth about $19,852,000. FMR LLC increased its stake in Viavi Solutions by 543.9% in the 1st quarter. FMR LLC now owns 1,834,270 shares of the communications equipment provider’s stock worth $19,664,000 after acquiring an additional 1,549,400 shares during the last quarter. Finally, Myriad Asset Management Ltd. bought a new position in Viavi Solutions in the 1st quarter worth about $13,347,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. B. Riley restated a “buy” rating and issued a $12.50 target price on shares of Viavi Solutions in a research note on Sunday, August 20th. Zacks Investment Research lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. MKM Partners upped their target price on Viavi Solutions from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and issued a $11.00 target price on shares of Viavi Solutions in a research note on Wednesday, August 16th. Finally, BidaskClub lowered Viavi Solutions from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $12.34.
In other news, EVP Paul Mcnab sold 8,915 shares of Viavi Solutions stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $10.04, for a total value of $89,506.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kevin Christopher Siebert sold 4,591 shares of Viavi Solutions stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $10.11, for a total value of $46,415.01. Following the completion of the sale, the vice president now directly owns 6,600 shares in the company, valued at $66,726. The disclosure for this sale can be found here. Insiders sold 52,733 shares of company stock worth $525,640 over the last 90 days. Company insiders own 0.35% of the company’s stock.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Tuesday, August 15th. The communications equipment provider reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The business had revenue of $198.10 million for the quarter, compared to the consensus estimate of $196.22 million. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis.
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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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