Nationwide Fund Advisors raised its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 42.3% during the second quarter, Holdings Channel reports. The fund owned 364,335 shares of the company’s stock after buying an additional 108,391 shares during the period. Nationwide Fund Advisors owned 0.16% of Viavi Solutions worth $2,416,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Viavi Solutions during the second quarter valued at about $130,000. Alambic Investment Management L.P. acquired a new position in Viavi Solutions during the second quarter valued at about $160,000. BlackRock Inc. acquired a new position in Viavi Solutions during the first quarter valued at about $202,000. Finally, Pacad Investment Ltd. acquired a new position in Viavi Solutions during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 87.32% of the company’s stock.
Shares of Viavi Solutions Inc. (NASDAQ:VIAV) traded up 2.46% during midday trading on Tuesday, reaching $7.50. 916,136 shares of the company’s stock were exchanged. The firm’s market cap is $1.74 billion. Viavi Solutions Inc. has a one year low of $4.68 and a one year high of $7.94. The stock’s 50-day moving average is $7.54 and its 200 day moving average is $7.00.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.01. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The firm had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. During the same period last year, the firm earned $0.13 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts anticipate that Viavi Solutions Inc. will post $0.35 EPS for the current year.
Several research firms have recently issued reports on VIAV. B. Riley lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and set a $6.75 target price for the company. in a report on Monday, June 27th. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a report on Tuesday, September 20th. Zacks Investment Research lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Saturday, September 3rd. Morgan Stanley restated a “hold” rating and issued a $6.00 price objective on shares of Viavi Solutions in a report on Friday, August 12th. Finally, William Blair restated an “outperform” rating on shares of Viavi Solutions in a report on Friday, September 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.45.
In other Viavi Solutions news, VP Kevin Christopher Siebert sold 6,938 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $7.73, for a total value of $53,630.74. Following the completion of the sale, the vice president now directly owns 691 shares in the company, valued at $5,341.43. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Susan Louise Spradley sold 15,766 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.50, for a total transaction of $118,245.00. Following the completion of the sale, the senior vice president now owns 1,752 shares of the company’s stock, valued at $13,140. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
About Viavi Solutions
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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