Norges Bank purchased a new stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,443,705 shares of the communications equipment provider's stock, valued at approximately $24,608,000. Norges Bank owned approximately 1.10% of Viavi Solutions at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in VIAV. Versor Investments LP bought a new stake in Viavi Solutions in the fourth quarter worth approximately $110,000. Quadrant Capital Group LLC increased its holdings in Viavi Solutions by 49.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider's stock worth $121,000 after purchasing an additional 3,952 shares in the last quarter. Heritage Wealth Management LLC bought a new stake in Viavi Solutions in the fourth quarter worth approximately $150,000. Sequoia Financial Advisors LLC increased its holdings in Viavi Solutions by 17.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider's stock worth $157,000 after purchasing an additional 2,368 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Viavi Solutions in the fourth quarter worth approximately $169,000. 95.54% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares of the company's stock, valued at $503,937.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 13,967 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares of the company's stock, valued at $503,937.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares in the company, valued at approximately $615,322.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,956 shares of company stock worth $418,759. 1.80% of the stock is owned by corporate insiders.
Viavi Solutions Stock Up 1.8 %
Viavi Solutions stock traded up $0.13 during trading on Friday, hitting $7.52. 1,554,340 shares of the company were exchanged, compared to its average volume of 1,382,745. The business's 50 day moving average is $8.09 and its 200 day moving average is $9.00. Viavi Solutions Inc. has a 52 week low of $7.10 and a 52 week high of $11.65. The company has a market capitalization of $1.68 billion, a P/E ratio of -376.00 and a beta of 0.97. The company has a current ratio of 3.81, a quick ratio of 3.35 and a debt-to-equity ratio of 0.90.
Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.65% and a negative net margin of 0.42%. The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $249.08 million. During the same quarter last year, the company posted $0.02 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Analysts predict that Viavi Solutions Inc. will post 0.12 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on VIAV. Northland Securities lifted their target price on Viavi Solutions from $12.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, March 6th. Susquehanna downgraded Viavi Solutions from a "positive" rating to a "neutral" rating and set a $9.00 price objective for the company. in a report on Friday, May 3rd. Stifel Nicolaus restated a "buy" rating and set a $13.00 price objective on shares of Viavi Solutions in a report on Monday, April 1st. Needham & Company LLC restated a "hold" rating on shares of Viavi Solutions in a report on Friday, May 3rd. Finally, Argus upgraded Viavi Solutions to a "strong-buy" rating in a report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Viavi Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.
View Our Latest Stock Report on Viavi Solutions
Viavi Solutions Profile
(Free Report)
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.
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