Viavi Solutions Inc. $VIAV Stake Reduced by Engineers Gate Manager LP

Engineers Gate Manager LP lowered its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 15.4% in the 2nd quarter, Holdings Channel reports. The fund owned 153,001 shares of the communications equipment provider’s stock after selling 27,822 shares during the period. Engineers Gate Manager LP’s holdings in Viavi Solutions were worth $7,306,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Viavi Solutions during the second quarter valued at about $149,000. NewEdge Advisors LLC increased its position in shares of Viavi Solutions by 309.4% during the 2nd quarter. NewEdge Advisors LLC now owns 1,130 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 854 shares during the period. Arizona State Retirement System increased its position in shares of Viavi Solutions by 4.1% during the 2nd quarter. Arizona State Retirement System now owns 63,847 shares of the communications equipment provider’s stock valued at $3,049,000 after purchasing an additional 2,540 shares during the period. Nykredit A S bought a new stake in shares of Viavi Solutions in the 2nd quarter worth $290,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Viavi Solutions in the second quarter valued at $707,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VIAV has been the topic of several research reports. Zacks Research upgraded shares of Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 13th. Stifel Nicolaus increased their target price on shares of Viavi Solutions from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a research report on Wednesday, August 19th. Susquehanna upped their price target on Viavi Solutions from $65.00 to $66.00 and gave the company a “positive” rating in a report on Wednesday, July 1st. Finally, UBS Group reduced their price objective on Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.43.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, SVP Luke Scrivanich sold 23,911 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $36.37, for a total value of $869,643.07. Following the transaction, the senior vice president directly owned 39,598 shares of the company’s stock, valued at $1,440,179.26. This represents a 37.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul McNab sold 11,032 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $38.97, for a total value of $429,917.04. Following the sale, the executive vice president directly owned 25,639 shares of the company’s stock, valued at $999,151.83. This trade represents a 30.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 163,828 shares of company stock worth $6,676,449. 1.80% of the stock is owned by company insiders.

Viavi Solutions Stock Performance

VIAV stock opened at $38.75 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.85. The stock has a market cap of $9.56 billion, a P/E ratio of -258.32 and a beta of 1.22. The firm has a 50 day simple moving average of $38.96 and a 200 day simple moving average of $41.48. Viavi Solutions Inc. has a 52 week low of $11.93 and a 52 week high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The company had revenue of $443.10 million during the quarter, compared to analyst estimates of $432.62 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Research analysts anticipate that Viavi Solutions Inc. will post 1.32 earnings per share for the current fiscal year.

Viavi Solutions Profile

Viavi Solutions Inc (NASDAQ: VIAV) develops test, measurement, and assurance technologies for communications networks and optical systems. Its products and software help telecommunications providers, network equipment manufacturers, data centers, government organizations, and other enterprises build, validate, monitor, and maintain wired and wireless networks.

The company’s offerings include instruments and software for fiber-optic testing, network installation and certification, service activation, network performance monitoring, troubleshooting, and telecommunications equipment testing.