California Public Employees Retirement System lowered its position in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 460,928 shares of the communications equipment provider’s stock after selling 40,897 shares during the period. California Public Employees Retirement System owned approximately 0.20% of Viavi Solutions worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in VIAV. Bank of Montreal Can increased its holdings in Viavi Solutions by 15.4% in the 4th quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock valued at $118,000 after purchasing an additional 1,564 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Viavi Solutions by 2.5% in the 4th quarter. State of Alaska Department of Revenue now owns 76,388 shares of the communications equipment provider’s stock valued at $767,000 after purchasing an additional 1,840 shares during the last quarter. Piedmont Investment Advisors Inc. increased its holdings in Viavi Solutions by 4.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 54,432 shares of the communications equipment provider’s stock valued at $547,000 after purchasing an additional 2,107 shares during the last quarter. Comerica Bank increased its holdings in Viavi Solutions by 1.1% in the 4th quarter. Comerica Bank now owns 222,614 shares of the communications equipment provider’s stock valued at $2,411,000 after purchasing an additional 2,498 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Viavi Solutions in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 91.84% of the company’s stock.
Shares of VIAV opened at $12.23 on Friday. Viavi Solutions Inc has a 1-year low of $9.11 and a 1-year high of $13.48. The firm 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 debt-to-equity ratio of 0.80, a current ratio of 2.99 and a quick ratio of 2.70.
Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings data on Tuesday, February 5th. The communications equipment provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $280.93 million. Viavi Solutions had a negative net margin of 3.76% and a positive return on equity of 15.82%. Viavi Solutions’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. As a group, sell-side analysts predict that Viavi Solutions Inc will post 0.55 earnings per share for the current fiscal year.
VIAV has been the subject of several research reports. BidaskClub downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research note on Sunday, February 10th. Northland Securities began coverage on shares of Viavi Solutions in a research note on Tuesday, February 12th. They issued an “outperform” rating and a $15.00 price target for the company. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, TheStreet upgraded shares of Viavi Solutions from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. Viavi Solutions currently has an average rating of “Buy” and an average price target of $12.88.
In other Viavi Solutions news, SVP Luke M. Scrivanich sold 4,810 shares of Viavi Solutions stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $13.29, for a total value of $63,924.90. Following the transaction, the senior vice president now directly owns 45,456 shares in the company, valued at $604,110.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 6,915 shares of company stock worth $91,685. 0.50% of the stock is currently owned by company 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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