State of New Jersey Common Pension Fund D Reduces Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

State of New Jersey Common Pension Fund D cut its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 9.4% during the 3rd quarter, Holdings Channel reports. The firm owned 231,997 shares of the communications equipment provider’s stock after selling 24,181 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Viavi Solutions were worth $2,093,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Viavi Solutions by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 29,148,414 shares of the communications equipment provider’s stock valued at $264,959,000 after purchasing an additional 408,484 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Viavi Solutions by 127.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 204,786 shares of the communications equipment provider’s stock valued at $1,862,000 after purchasing an additional 114,822 shares in the last quarter. Federated Hermes Inc. grew its stake in Viavi Solutions by 98,561.6% in the second quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock worth $1,288,000 after purchasing an additional 187,267 shares during the period. Capital World Investors boosted its holdings in shares of Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock valued at $110,548,000 after buying an additional 9,161,535 shares in the last quarter. Finally, Boston Partners purchased a new stake in shares of Viavi Solutions in the 1st quarter worth about $795,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Down 1.9 %

Viavi Solutions stock opened at $9.87 on Friday. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.32. The business’s fifty day moving average is $9.18 and its 200 day moving average is $8.16. The stock has a market capitalization of $2.19 billion, a PE ratio of -58.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. On average, sell-side analysts predict that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 8,432 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares in the company, valued at $488,604.71. The trade was a 12.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now owns 243,514 shares in the company, valued at $1,989,509.38. This trade represents a 10.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,652 shares of company stock worth $817,585. Insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on VIAV. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Stifel Nicolaus cut their price target on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Rosenblatt Securities lifted their price objective on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, B. Riley reduced their price target on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Viavi Solutions 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.