State of Alaska Department of Revenue lessened its stake in Viavi Solutions Inc. (NASDAQ:VIAV – Free Report) by 2.4% in the first quarter, HoldingsChannel reports. The fund owned 123,084 shares of the communications equipment provider’s stock after selling 2,977 shares during the period. State of Alaska Department of Revenue’s holdings in Viavi Solutions were worth $1,377,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Viavi Solutions by 26.3% during the 4th quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider’s stock valued at $198,108,000 after purchasing an additional 4,085,648 shares during the last quarter. Woodline Partners LP raised its position in Viavi Solutions by 423.7% during the 4th quarter. Woodline Partners LP now owns 3,435,678 shares of the communications equipment provider’s stock valued at $34,700,000 after purchasing an additional 2,779,615 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Viavi Solutions during the 4th quarter valued at approximately $16,722,000. Arrowstreet Capital Limited Partnership bought a new position in Viavi Solutions during the 4th quarter valued at approximately $15,268,000. Finally, LMR Partners LLP bought a new position in Viavi Solutions during the 4th quarter valued at approximately $8,080,000. Institutional investors own 95.54% of the company’s stock.
Insider Activity at Viavi Solutions
In related news, Director Richard Belluzzo sold 8,385 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total transaction of $74,794.20. Following the completion of the transaction, the director now directly owns 259,081 shares in the company, valued at approximately $2,311,002.52. The trade was a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is currently owned by corporate insiders.
Viavi Solutions Trading Up 3.0%
Wall Street Analysts Forecast Growth
A number of research analysts have commented on VIAV shares. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Viavi Solutions in a research report on Friday, May 2nd. B. Riley reduced their price objective on Viavi Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $13.50 target price on shares of Viavi Solutions in a research note on Friday, June 20th. UBS Group cut their target price on Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen raised Viavi Solutions from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.69.
Get Our Latest Stock Analysis on VIAV
Viavi Solutions Profile
Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.
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