GAM Holding AG bought a new stake in Viavi Solutions Inc (NASDAQ:VIAV) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 100,326 shares of the communications equipment provider’s stock, valued at approximately $1,138,000.
A number of other institutional investors have also added to or reduced their stakes in VIAV. Raymond James & Associates bought a new position in shares of Viavi Solutions in the 2nd quarter valued at about $109,000. Main Street Research LLC bought a new position in shares of Viavi Solutions in the 3rd quarter valued at about $121,000. Quantbot Technologies LP bought a new position in shares of Viavi Solutions in the 3rd quarter valued at about $250,000. PNC Financial Services Group Inc. grew its position in shares of Viavi Solutions by 118.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 33,057 shares of the communications equipment provider’s stock valued at $375,000 after acquiring an additional 17,912 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of Viavi Solutions by 17.4% in the 2nd quarter. SG Americas Securities LLC now owns 37,173 shares of the communications equipment provider’s stock valued at $381,000 after acquiring an additional 5,505 shares during the period. 89.79% of the stock is owned by institutional investors and hedge funds.
NASDAQ VIAV opened at $10.30 on Friday. The company has a quick ratio of 2.18, a current ratio of 2.39 and a debt-to-equity ratio of 0.79. The stock has a market cap of $2.33 billion, a PE ratio of 30.29 and a beta of 0.88. Viavi Solutions Inc has a 52-week low of $8.49 and a 52-week high of $12.82.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $268.50 million during the quarter, compared to analysts’ expectations of $268.73 million. Viavi Solutions had a negative net margin of 5.92% and a positive return on equity of 12.72%. Viavi Solutions’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. As a group, equities research analysts expect that Viavi Solutions Inc will post 0.49 earnings per share for the current year.
VIAV has been the subject of a number of analyst reports. ValuEngine raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Deutsche Bank raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Monday, October 1st. William Blair reissued a “buy” rating on shares of Viavi Solutions in a research report on Wednesday, August 15th. BidaskClub raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Finally, B. Riley lifted their price objective on shares of Viavi Solutions from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.99.
In other news, EVP Paul Mcnab sold 14,046 shares of the firm’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $11.25, for a total transaction of $158,017.50. Following the completion of the sale, the executive vice president now owns 110,456 shares in the company, valued at approximately $1,242,630. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith Barnes sold 11,074 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $9.73, for a total transaction of $107,750.02. Following the sale, the director now owns 98,471 shares of the company’s stock, valued at approximately $958,122.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,253 shares of company stock valued at $1,472,556. 0.50% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: “GAM Holding AG Takes Position in Viavi Solutions Inc (VIAV)” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2018/12/08/gam-holding-ag-takes-position-in-viavi-solutions-inc-viav.html.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
Further Reading: Yield Curve
Want to see what other hedge funds are holding VIAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viavi Solutions Inc (NASDAQ:VIAV).
Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.