Louisiana State Employees Retirement System Invests $1.12 Million in Viavi Solutions Inc. (NASDAQ:VIAV)

Louisiana State Employees Retirement System purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 111,300 shares of the communications equipment provider’s stock, valued at approximately $1,121,000. Louisiana State Employees Retirement System owned 0.05% of Viavi Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Viavi Solutions by 17.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock worth $157,000 after purchasing an additional 2,368 shares during the period. Trust Point Inc. acquired a new position in Viavi Solutions in the fourth quarter valued at $305,000. Assenagon Asset Management S.A. lifted its holdings in Viavi Solutions by 399.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,044,366 shares of the communications equipment provider’s stock valued at $10,517,000 after buying an additional 835,248 shares during the period. Tributary Capital Management LLC lifted its holdings in Viavi Solutions by 6.4% in the fourth quarter. Tributary Capital Management LLC now owns 1,276,483 shares of the communications equipment provider’s stock valued at $12,854,000 after buying an additional 76,691 shares during the period. Finally, Thompson Investment Management Inc. lifted its holdings in Viavi Solutions by 8.8% in the fourth quarter. Thompson Investment Management Inc. now owns 392,333 shares of the communications equipment provider’s stock valued at $3,951,000 after buying an additional 31,706 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 15,004 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at $615,322.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the sale, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at $615,322.80. The disclosure for this sale can be found here. Insiders sold a total of 30,093 shares of company stock valued at $319,841 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV opened at $8.01 on Wednesday. The firm’s 50-day moving average price is $9.41 and its 200-day moving average price is $9.06. Viavi Solutions Inc. has a 1-year low of $7.26 and a 1-year high of $11.65. The firm has a market capitalization of $1.78 billion, a P/E ratio of 400.50 and a beta of 0.95. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $254.50 million during the quarter, compared to the consensus estimate of $249.77 million. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. Equities research analysts anticipate that Viavi Solutions Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on VIAV shares. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Monday, April 1st. Stifel Nicolaus restated a “buy” rating and issued a $13.00 target price on shares of Viavi Solutions in a report on Monday, April 1st. Northland Securities boosted their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Finally, Morgan Stanley upped their price objective on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.