Viavi Solutions Inc. (NASDAQ:VIAV) Position Trimmed by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 83.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,377 shares of the communications equipment provider’s stock after selling 167,061 shares during the period. Mutual of America Capital Management LLC’s holdings in Viavi Solutions were worth $301,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its stake in Viavi Solutions by 7.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 226,874 shares of the communications equipment provider’s stock valued at $2,058,000 after buying an additional 15,641 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Viavi Solutions by 5.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 158,829 shares of the communications equipment provider’s stock valued at $1,445,000 after buying an additional 7,796 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Viavi Solutions in the 1st quarter valued at approximately $176,000. Tidal Investments LLC acquired a new stake in Viavi Solutions in the first quarter valued at approximately $564,000. Finally, Boston Partners acquired a new position in shares of Viavi Solutions during the 1st quarter worth $795,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VIAV has been the subject of several analyst reports. UBS Group began coverage on shares of Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective for the company. Northland Securities increased their price objective on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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 report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. Finally, StockNews.com downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Viavi Solutions has a consensus rating of “Hold” and an average target price of $10.44.

Viavi Solutions Price Performance

Shares of NASDAQ:VIAV opened at $9.88 on Friday. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $2.19 billion, a PE ratio of -58.11 and a beta of 0.90. The business’s 50 day moving average is $9.45 and its 200-day moving average is $8.29.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) 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 firm had revenue of $238.20 million during the quarter, compared to the consensus estimate of $240.09 million. During the same quarter in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In related news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the completion of the sale, the director now directly owns 228,514 shares of the company’s stock, valued at approximately $1,873,814.80. This represents a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total value of $26,836.94. Following the transaction, the senior vice president now owns 57,319 shares of the company’s stock, valued at approximately $507,846.34. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,949 shares of company stock valued at $489,511. 1.52% of the stock is currently owned by insiders.

Viavi Solutions Company 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.