BlackRock Inc. lowered its stake in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,174,840 shares of the communications equipment provider’s stock after selling 25,692 shares during the period. BlackRock Inc. owned 12.91% of Viavi Solutions worth $254,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in VIAV. Hartford Investment Management Co. bought a new stake in shares of Viavi Solutions during the third quarter valued at approximately $102,000. US Bancorp DE raised its position in shares of Viavi Solutions by 635.8% during the fourth quarter. US Bancorp DE now owns 12,214 shares of the communications equipment provider’s stock valued at $107,000 after buying an additional 10,554 shares during the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Viavi Solutions during the third quarter valued at approximately $111,000. LMR Partners LLP bought a new stake in shares of Viavi Solutions during the fourth quarter valued at approximately $195,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Viavi Solutions by 56.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,878 shares of the communications equipment provider’s stock worth $264,000 after purchasing an additional 10,080 shares during the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.
Shares of Viavi Solutions Inc (NASDAQ VIAV) opened at $10.54 on Tuesday. Viavi Solutions Inc has a 1 year low of $8.34 and a 1 year high of $11.89. The firm has a market cap of $2,380.00, a price-to-earnings ratio of 105.40, a P/E/G ratio of 1.73 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.06.
Viavi Solutions declared that its board has approved a stock repurchase program on Thursday, February 15th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently weighed in on the stock. Loop Capital assumed coverage on shares of Viavi Solutions in a research report on Monday, January 29th. They issued a “hold” rating and a $9.50 price target on the stock. Morgan Stanley boosted their price target on shares of Viavi Solutions from $9.00 to $10.50 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. BidaskClub upgraded shares of Viavi Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Stifel Nicolaus upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a research report on Friday, February 2nd. Finally, Rosenblatt Securities set a $13.00 price target on shares of Viavi Solutions and gave the stock a “buy” rating in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Viavi Solutions presently has a consensus rating of “Buy” and a consensus price target of $11.93.
In other Viavi Solutions news, VP Kevin Christopher Siebert sold 7,415 shares of Viavi Solutions stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.79, for a total transaction of $72,592.85. Following the completion of the transaction, the vice president now directly owns 17,360 shares of the company’s stock, valued at $169,954.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Belluzzo sold 4,997 shares of Viavi Solutions stock in a transaction on Friday, January 12th. The stock was sold at an average price of $9.00, for a total transaction of $44,973.00. Following the transaction, the director now directly owns 190,654 shares of the company’s stock, valued at $1,715,886. The disclosure for this sale can be found here. Insiders have sold 95,832 shares of company stock valued at $922,577 over the last ninety days. 0.59% of the stock is owned by insiders.
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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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