Arizona State Retirement System lowered its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,400 shares of the communications equipment provider’s stock after selling 1,600 shares during the period. Arizona State Retirement System owned 0.05% of Viavi Solutions worth $1,247,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in Viavi Solutions by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 389,179 shares of the communications equipment provider’s stock valued at $3,183,000 after buying an additional 9,882 shares during the last quarter. Bank of Montreal Can raised its position in Viavi Solutions by 6.6% in the first quarter. Bank of Montreal Can now owns 24,368 shares of the communications equipment provider’s stock valued at $261,000 after buying an additional 1,500 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Viavi Solutions by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 93,800 shares of the communications equipment provider’s stock valued at $1,006,000 after buying an additional 1,300 shares during the last quarter. State of Alaska Department of Revenue raised its position in Viavi Solutions by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 25,530 shares of the communications equipment provider’s stock valued at $273,000 after buying an additional 390 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Viavi Solutions by 2.2% in the first quarter. Fisher Asset Management LLC now owns 464,300 shares of the communications equipment provider’s stock valued at $4,977,000 after buying an additional 10,075 shares during the last quarter. Hedge funds and other institutional investors own 94.47% of the company’s stock.

Viavi Solutions Inc. (NASDAQ VIAV) opened at 10.12 on Monday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 14.31 and a beta of 1.36. Viavi Solutions Inc. has a 12-month low of $6.99 and a 12-month high of $11.89. The firm’s 50-day moving average is $10.77 and its 200-day moving average is $10.65.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The firm had revenue of $198.10 million during the quarter, compared to analyst estimates of $196.22 million. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The business’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 company posted $0.10 EPS. Analysts predict that Viavi Solutions Inc. will post $0.41 EPS for the current fiscal year.

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Several analysts have recently weighed in on the stock. B. Riley reiterated a “neutral” rating and issued a $8.25 price objective on shares of Viavi Solutions in a research note on Monday, May 1st. Stifel Nicolaus lifted their price objective on shares of Viavi Solutions from $8.50 to $9.50 and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Jefferies Group LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the company from $9.50 to $14.00 in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, May 9th. Finally, BidaskClub lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $12.34.

In other news, EVP Paul Mcnab sold 8,915 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $10.04, for a total value of $89,506.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin Christopher Siebert sold 4,591 shares of the business’s stock in a transaction on 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 transaction, the vice president now directly owns 6,600 shares of the company’s stock, valued at $66,726. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,840 shares of company stock valued at $211,555. Corporate insiders own 0.35% of the company’s stock.

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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Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

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