KBC Group NV Acquires 3,252 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

KBC Group NV raised its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 53.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,388 shares of the communications equipment provider’s stock after acquiring an additional 3,252 shares during the period. KBC Group NV’s holdings in Viavi Solutions were worth $85,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Viavi Solutions in the third quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of Viavi Solutions in the 2nd quarter valued at approximately $38,000. Quarry LP boosted its stake in Viavi Solutions by 419.7% during the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 5,838 shares during the last quarter. Summit Securities Group LLC bought a new position in Viavi Solutions during the 2nd quarter worth approximately $52,000. Finally, Sanctuary Advisors LLC acquired a new position in Viavi Solutions during the second quarter valued at approximately $76,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company’s stock, valued at $507,846.34. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,381 shares of company stock valued at $562,279 in the last 90 days. 1.52% of the stock is currently owned by insiders.

Viavi Solutions Stock Performance

Shares of VIAV opened at $10.10 on Friday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -59.47 and a beta of 0.90. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $11.32. The firm has a fifty day simple moving average of $9.30 and a 200 day simple moving average of $8.21. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The company had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the company earned $0.05 EPS. Viavi Solutions’s revenue for the quarter was down 3.9% compared to the same quarter last year. Research analysts forecast that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VIAV. B. Riley lowered their price objective on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. UBS Group started coverage on Viavi Solutions in a research report on Tuesday. They set a “neutral” rating and a $10.60 price target on the stock. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus dropped their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Rosenblatt Securities lifted their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six investment 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 stock. According to MarketBeat.com, Viavi Solutions currently has an average rating of “Moderate Buy” and an average target price of $10.44.

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.