Legal & General Group Plc boosted its holdings in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 527,888 shares of the communications equipment provider’s stock after buying an additional 37,648 shares during the quarter. Legal & General Group Plc owned approximately 0.23% of Viavi Solutions worth $5,974,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Raymond James & Associates acquired a new position in Viavi Solutions during the second quarter valued at $109,000. Main Street Research LLC purchased a new stake in Viavi Solutions during the 3rd quarter valued at about $121,000. Paloma Partners Management Co purchased a new stake in Viavi Solutions during the 3rd quarter valued at about $188,000. Quantbot Technologies LP purchased a new stake in Viavi Solutions during the 3rd quarter valued at about $250,000. Finally, PNC Financial Services Group Inc. grew its stake 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 buying an additional 17,912 shares during the period. 89.76% of the stock is currently owned by institutional investors.
In other Viavi Solutions news, Director Keith Barnes sold 11,074 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $9.73, for a total value of $107,750.02. Following the completion of the sale, the director now directly owns 98,471 shares of the company’s stock, valued at approximately $958,122.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 13,149 shares of company stock valued at $127,959 over the last three months. 0.50% of the stock is owned by corporate insiders.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Viavi Solutions had a negative net margin of 5.92% and a positive return on equity of 12.72%. The company had revenue of $268.50 million during the quarter, compared to the consensus estimate of $268.73 million. During the same period in the prior year, the company earned $0.11 EPS. Viavi Solutions’s revenue was up 40.6% on a year-over-year basis. Equities research analysts expect that Viavi Solutions Inc will post 0.49 EPS for the current fiscal year.
VIAV has been the topic of several recent analyst reports. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a 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. BidaskClub downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, October 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Viavi Solutions from $11.00 to $12.00 and gave the company a “sell” rating in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.88.
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Viavi Solutions Company Profile
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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