Viavi Solutions Inc. (VIAV) Shares Bought by Stevens Capital Management LP
Stevens Capital Management LP boosted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 380.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,770 shares of the communications equipment provider’s stock after purchasing an additional 63,168 shares during the period. Stevens Capital Management LP’s holdings in Viavi Solutions were worth $755,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new position in Viavi Solutions during the second quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Viavi Solutions by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 1,003 shares during the period. Creative Planning lifted its position in Viavi Solutions by 177.9% during the second quarter. Creative Planning now owns 11,302 shares of the communications equipment provider’s stock valued at $119,000 after purchasing an additional 7,235 shares during the period. BlueMountain Capital Management LLC bought a new position in Viavi Solutions during the second quarter valued at approximately $123,000. Finally, Sciencast Management LP bought a new position in Viavi Solutions during the second quarter valued at approximately $146,000. Institutional investors own 92.75% of the company’s stock.
Shares of Viavi Solutions Inc. (NASDAQ VIAV) opened at $8.67 on Thursday. Viavi Solutions Inc. has a twelve month low of $7.56 and a twelve month high of $11.89. The company has a market cap of $1,926.26, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The company has a current ratio of 2.20, a quick ratio of 2.10 and a debt-to-equity ratio of 0.47.
Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.06. Viavi Solutions had a net margin of 10.57% and a return on equity of 8.99%. The business had revenue of $195.20 million during the quarter, compared to analysts’ expectations of $183.89 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was down 7.4% on a year-over-year basis. equities research analysts predict that Viavi Solutions Inc. will post 0.31 EPS for the current year.
In other news, Director Richard Belluzzo sold 10,000 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $9.54, for a total value of $95,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ralph Rondinone sold 4,569 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $9.83, for a total transaction of $44,913.27. Following the completion of the sale, the senior vice president now directly owns 7,239 shares of the company’s stock, valued at $71,159.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,151 shares of company stock valued at $972,975. Corporate insiders own 0.59% of the company’s stock.
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A number of brokerages have commented on VIAV. Zacks Investment Research cut shares of Viavi Solutions from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Tuesday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Thursday, October 12th. B. Riley reaffirmed a “buy” rating and set a $12.50 target price on shares of Viavi Solutions in a report on Sunday, August 20th. Finally, MKM Partners upped their target price on shares of Viavi Solutions from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Viavi Solutions presently has a consensus rating of “Hold” and a consensus price target of $12.78.
Viavi Solutions Company 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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