Viavi Solutions Inc (VIAV) Stake Boosted by Everence Capital Management Inc.

Everence Capital Management Inc. raised its holdings in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 141.1% during the first quarter, HoldingsChannel reports. The firm owned 37,780 shares of the communications equipment provider’s stock after buying an additional 22,110 shares during the period. Everence Capital Management Inc.’s holdings in Viavi Solutions were worth $468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in shares of Viavi Solutions by 15.4% in the 4th quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock valued at $118,000 after acquiring an additional 1,564 shares during the period. State of Alaska Department of Revenue increased its position in shares of Viavi Solutions by 2.5% in the 4th quarter. State of Alaska Department of Revenue now owns 76,388 shares of the communications equipment provider’s stock valued at $767,000 after acquiring an additional 1,840 shares during the period. Piedmont Investment Advisors Inc. increased its position in shares of Viavi Solutions by 4.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 54,432 shares of the communications equipment provider’s stock valued at $547,000 after acquiring an additional 2,107 shares during the period. Comerica Bank increased its position in shares of Viavi Solutions by 1.1% in the 4th quarter. Comerica Bank now owns 222,614 shares of the communications equipment provider’s stock valued at $2,411,000 after acquiring an additional 2,498 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Viavi Solutions by 16.9% in the 4th quarter. Hsbc Holdings PLC now owns 18,415 shares of the communications equipment provider’s stock valued at $185,000 after acquiring an additional 2,665 shares during the period. 94.42% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:VIAV opened at $13.27 on Friday. Viavi Solutions Inc has a one year low of $9.17 and a one year high of $14.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 39.03 and a beta of 0.90.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate 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 company had revenue of $265.20 million for the quarter, compared to analyst estimates of $259.86 million. During the same period in the prior year, the company earned $0.13 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Sell-side analysts anticipate that Viavi Solutions Inc will post 0.53 earnings per share for the current year.

In other news, SVP Luke M. Scrivanich sold 4,810 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $13.29, for a total transaction of $63,924.90. Following the sale, the senior vice president now directly owns 45,456 shares of the company’s stock, valued at approximately $604,110.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 6,915 shares of company stock worth $91,685. Corporate insiders own 0.50% of the company’s stock.

VIAV has been the topic of several research reports. Zacks Investment Research downgraded Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. BidaskClub downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 13th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Viavi Solutions in a research report on Sunday, February 10th. Northland Securities initiated coverage on Viavi Solutions in a research report on Tuesday, February 12th. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, Morgan Stanley set a $13.00 target price on Viavi Solutions and gave the company a “hold” rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Viavi Solutions currently has an average rating of “Buy” and a consensus target price of $13.33.

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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.

Further Reading: What is a Derivative?

Want to see what other hedge funds are holding VIAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viavi Solutions Inc (NASDAQ:VIAV).

Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

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