Viavi Solutions Inc. $VIAV Shares Newly Acquired by M&G PLC

M&G PLC bought a new position in Viavi Solutions Inc. (NASDAQ:VIAV) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 372,838 shares of the communications equipment provider’s stock, valued at approximately $15,659,000.

Several other hedge funds also recently bought and sold shares of the company. Silvant Capital Management LLC purchased a new stake in shares of Viavi Solutions during the 2nd quarter worth about $33,000. Fortitude Family Office LLC lifted its holdings in shares of Viavi Solutions by 413.3% during the 3rd quarter. Fortitude Family Office LLC now owns 811 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 653 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in shares of Viavi Solutions in the 2nd quarter valued at approximately $38,000. Carolina Wealth Advisors LLC grew its stake in shares of Viavi Solutions by 83.2% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 387 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Viavi Solutions by 309.4% in the 2nd quarter. NewEdge Advisors LLC now owns 1,130 shares of the communications equipment provider’s stock valued at $54,000 after buying an additional 854 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Ilan Daskal sold 56,290 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the transaction, the executive vice president owned 10,132 shares of the company’s stock, valued at approximately $367,690.28. This represents a 84.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Luke Scrivanich sold 35,866 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $36.24, for a total value of $1,299,783.84. Following the completion of the transaction, the senior vice president directly owned 39,598 shares in the company, valued at $1,435,031.52. The trade was a 47.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 198,099 shares of company stock worth $7,916,628. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Needham & Company LLC dropped their price objective on Viavi Solutions from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 target price on shares of Viavi Solutions in a research note on Wednesday, September 23rd. UBS Group reduced their target price on shares of Viavi Solutions from $44.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th. Zacks Research downgraded shares of Viavi Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Wall Street Zen upgraded shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Viavi Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

Viavi Solutions Trading Down 3.0%

Viavi Solutions stock opened at $31.01 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.65 and a quick ratio of 1.40. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 129.21 and a beta of 1.31. Viavi Solutions Inc. has a one year low of $15.51 and a one year high of $60.43. The company’s fifty day moving average price is $36.48 and its two-hundred day moving average price is $38.76.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Wednesday, November 4th. The communications equipment provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. Viavi Solutions had a return on equity of 25.36% and a net margin of 3.97%. The company had revenue of $469.30 million for the quarter, compared to analyst estimates of $455.06 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 56.9% compared to the same quarter last year. On average, analysts forecast that Viavi Solutions Inc. will post 1.42 earnings per share for the current fiscal year.

Viavi Solutions Company Profile

Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.