Quantamental Technologies LLC cut its stake in Viavi Solutions Inc (NASDAQ:VIAV) by 69.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,419 shares of the communications equipment provider’s stock after selling 17,151 shares during the period. Quantamental Technologies LLC’s holdings in Viavi Solutions were worth $92,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in Viavi Solutions in the fourth quarter worth about $31,000. Pearl River Capital LLC bought a new position in shares of Viavi Solutions during the fourth quarter valued at approximately $45,000. Capital Investment Advisory Services LLC bought a new position in shares of Viavi Solutions during the first quarter valued at approximately $68,000. First Quadrant L P CA bought a new position in shares of Viavi Solutions during the fourth quarter valued at approximately $76,000. Finally, LS Investment Advisors LLC increased its stake in shares of Viavi Solutions by 63.5% during the fourth quarter. LS Investment Advisors LLC now owns 10,817 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 4,202 shares in the last quarter. Institutional investors and hedge funds own 92.82% of the company’s stock.
A number of brokerages have weighed in on VIAV. Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Saturday, February 9th. BidaskClub downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 5th. TheStreet raised shares of Viavi Solutions from a “c” rating to a “b-” rating in a research note on Wednesday, February 6th. ValuEngine raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, JPMorgan Chase & Co. raised shares of Viavi Solutions from an “underweight” rating to a “neutral” rating and raised their target price for the company from $12.00 to $13.00 in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Viavi Solutions currently has an average rating of “Buy” and an average target price of $13.33.
NASDAQ:VIAV opened at $13.58 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.19 and a debt-to-equity ratio of 0.79. Viavi Solutions Inc has a 12 month low of $9.17 and a 12 month high of $14.00. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 39.94 and a beta of 0.90.
Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The business had revenue of $265.20 million during the quarter, compared to the consensus estimate of $259.86 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts forecast that Viavi Solutions Inc will post 0.55 earnings per share for the current year.
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Viavi Solutions Profile
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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