Capital Research Global Investors Has $171.13 Million Holdings in Viavi Solutions Inc. (VIAV)
Capital Research Global Investors boosted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 2.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,251,481 shares of the communications equipment provider’s stock after purchasing an additional 352,207 shares during the period. Capital Research Global Investors owned approximately 7.16% of Viavi Solutions worth $171,128,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Employees Retirement System of Texas grew its position in Viavi Solutions by 19.8% during the 2nd quarter. Employees Retirement System of Texas now owns 788,000 shares of the communications equipment provider’s stock worth $8,298,000 after purchasing an additional 130,000 shares during the period. Stifel Financial Corp grew its position in Viavi Solutions by 1.8% during the 2nd quarter. Stifel Financial Corp now owns 52,454 shares of the communications equipment provider’s stock worth $552,000 after purchasing an additional 933 shares during the period. Voya Investment Management LLC grew its position in Viavi Solutions by 18.8% during the 2nd quarter. Voya Investment Management LLC now owns 106,699 shares of the communications equipment provider’s stock worth $1,124,000 after purchasing an additional 16,912 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in Viavi Solutions during the 2nd quarter worth about $1,390,000. Finally, OxFORD Asset Management LLP grew its position in Viavi Solutions by 8.0% during the 2nd quarter. OxFORD Asset Management LLP now owns 154,625 shares of the communications equipment provider’s stock worth $1,628,000 after purchasing an additional 11,396 shares during the period. 92.44% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on VIAV shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $11.00 price target (up from $9.50) on shares of Viavi Solutions in a research report on Thursday, June 22nd. BidaskClub downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. B. Riley raised Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Friday, July 21st. TheStreet downgraded Viavi Solutions from a “b” rating to a “c+” rating in a research report on Tuesday, August 1st. Finally, MKM Partners increased their price target on Viavi Solutions from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.39.
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In other Viavi Solutions news, EVP Paul Mcnab sold 8,915 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $10.04, for a total value of $89,506.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kevin Christopher Siebert sold 10,689 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $9.40, for a total transaction of $100,476.60. Following the completion of the sale, the vice president now directly owns 14,968 shares in the company, valued at approximately $140,699.20. The disclosure for this sale can be found here. Insiders have sold 90,694 shares of company stock worth $883,564 over the last 90 days. 0.35% of the stock is currently owned by company insiders.
Shares of Viavi Solutions Inc. (VIAV) opened at 9.51 on Friday. The stock’s 50 day moving average price is $9.89 and its 200-day moving average price is $10.58. The firm has a market capitalization of $2.16 billion, a PE ratio of 13.45 and a beta of 1.31. Viavi Solutions Inc. has a 52-week low of $6.99 and a 52-week high of $11.89.
Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. Viavi Solutions had a net margin of 20.57% and a return on equity of 8.46%. The company had revenue of $198.10 million for the quarter, compared to analyst estimates of $196.22 million. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. Equities research analysts anticipate that Viavi Solutions Inc. will post $0.41 EPS for the current fiscal year.
Viavi Solutions Profile
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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