Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 91,600 Viavi Solutions Inc. $VIAV

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Viavi Solutions Inc. (NASDAQ:VIAV) in the first quarter, HoldingsChannel reports. The firm purchased 91,600 shares of the communications equipment provider’s stock, valued at approximately $3,048,000.

Several other institutional investors and hedge funds have also made changes to their positions in VIAV. WPG Advisers LLC increased its stake in shares of Viavi Solutions by 96.2% during the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 380 shares during the period. State of Wyoming acquired a new stake in Viavi Solutions in the fourth quarter worth approximately $34,000. Johnson Financial Group Inc. bought a new position in Viavi Solutions during the 3rd quarter valued at $44,000. Cedar Mountain Advisors LLC bought a new position in Viavi Solutions during the 1st quarter valued at $50,000. Finally, Hantz Financial Services Inc. increased its position in shares of Viavi Solutions by 86.2% during the 4th quarter. Hantz Financial Services Inc. now owns 2,845 shares of the communications equipment provider’s stock valued at $51,000 after purchasing an additional 1,317 shares during the period. 95.54% of the stock is currently owned by institutional investors.

Viavi Solutions Stock Performance

Shares of NASDAQ VIAV opened at $35.05 on Friday. The stock’s fifty day simple moving average is $45.58 and its 200 day simple moving average is $38.23. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of -146.04 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. Viavi Solutions Inc. has a 52-week low of $9.61 and a 52-week high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Wednesday, April 29th. The communications equipment provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.The business had revenue of $406.80 million during the quarter, compared to the consensus estimate of $393.80 million. During the same period in the prior year, the business posted $0.15 earnings per share. Viavi Solutions’s revenue was up 42.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Viavi Solutions Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VIAV shares. Weiss Ratings downgraded Viavi Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. B. Riley Financial raised their target price on Viavi Solutions from $26.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Wall Street Zen raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Susquehanna boosted their price target on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a research report on Wednesday, July 1st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a report on Wednesday, June 10th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.88.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 2,727 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $54.96, for a total transaction of $149,875.92. Following the sale, the executive vice president owned 15,471 shares in the company, valued at approximately $850,286.16. The trade was a 14.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doug Gilstrap sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the sale, the director directly owned 55,766 shares of the company’s stock, valued at $3,067,130. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 450,369 shares of company stock worth $23,789,119 in the last three months. Insiders own 1.80% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.