First Trust Advisors LP bought a new position in shares of Viavi Solutions Inc (NASDAQ:VIAV) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 252,146 shares of the communications equipment provider’s stock, valued at approximately $2,534,000. First Trust Advisors LP owned approximately 0.11% of Viavi Solutions as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of Viavi Solutions during the 4th quarter worth $31,000. First Quadrant L P CA acquired a new stake in shares of Viavi Solutions during the 4th quarter worth $76,000. LS Investment Advisors LLC grew its holdings in shares of Viavi Solutions by 63.5% during the 4th quarter. LS Investment Advisors LLC now owns 10,817 shares of the communications equipment provider’s stock worth $109,000 after purchasing an additional 4,202 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Viavi Solutions by 15.4% during the 4th quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock worth $118,000 after purchasing an additional 1,564 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of Viavi Solutions by 75.0% during the 4th quarter. Strs Ohio now owns 11,900 shares of the communications equipment provider’s stock worth $119,000 after purchasing an additional 5,100 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Saturday, February 9th. BidaskClub lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday. ValuEngine raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Monday, February 4th. TheStreet raised Viavi Solutions from a “c” rating to a “b-” rating in a report on Wednesday, February 6th. Finally, Northland Securities assumed coverage on Viavi Solutions in a report on Tuesday, February 12th. They set an “outperform” rating and a $15.00 target price on the stock. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. Viavi Solutions currently has a consensus rating of “Buy” and an average target price of $12.88.
NASDAQ:VIAV opened at $12.23 on Friday. The stock has a market capitalization of $2.79 billion, a P/E ratio of 35.97 and a beta of 0.90. The company has a current ratio of 2.99, a quick ratio of 2.70 and a debt-to-equity ratio of 0.80. Viavi Solutions Inc has a twelve month low of $9.11 and a twelve month high of $13.48.
Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Tuesday, February 5th. The communications equipment provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $298.40 million for the quarter, compared to analyst estimates of $280.93 million. Viavi Solutions had a positive return on equity of 15.82% and a negative net margin of 3.76%. Viavi Solutions’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. Equities analysts predict that Viavi Solutions Inc will post 0.55 EPS for the current fiscal year.
In related news, SVP Luke M. Scrivanich sold 4,810 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $13.29, for a total value of $63,924.90. Following the sale, the senior vice president now directly owns 45,456 shares of the company’s stock, valued at $604,110.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 6,915 shares of company stock worth $91,685 over the last ninety days. 0.50% of the stock is currently owned by insiders.
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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.
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