Barclays PLC Purchases 22,893 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Barclays PLC increased its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 4.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 538,261 shares of the communications equipment provider’s stock after purchasing an additional 22,893 shares during the period. Barclays PLC’s holdings in Viavi Solutions were worth $4,856,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Viavi Solutions during the third quarter valued at approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Viavi Solutions in the second quarter worth $38,000. Quarry LP increased its holdings in shares of Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 5,838 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Viavi Solutions in the 2nd quarter worth about $52,000. Finally, KBC Group NV grew its position in Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock valued at $85,000 after purchasing an additional 3,252 shares during the last quarter. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Down 0.4 %

NASDAQ:VIAV opened at $10.20 on Friday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of -60.00 and a beta of 0.92. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The business has a fifty day moving average price of $9.98 and a 200-day moving average price of $8.63. Viavi Solutions Inc. has a one year low of $6.60 and a one year high of $11.49.

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

Insider Activity

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 2,802 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the sale, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at $568,612.31. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares in the company, valued at $1,957,923.38. This trade represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,831 shares of company stock worth $345,712 in the last three months. Company insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley reiterated an “underweight” rating and set a $9.50 price target (up previously from $8.00) on shares of Viavi Solutions in a report on Tuesday, December 17th. Rosenblatt Securities increased their price objective on 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 reissued a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. UBS Group started coverage on shares of Viavi Solutions in a report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price objective for the company. Finally, Stifel Nicolaus lifted their target price on shares of Viavi Solutions from $10.50 to $12.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.44.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.