Pinnacle Associates Ltd. Decreases Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Pinnacle Associates Ltd. cut its stake in Viavi Solutions Inc. (NASDAQ:VIAVFree Report) by 97.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,196 shares of the communications equipment provider’s stock after selling 967,277 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Viavi Solutions were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in Viavi Solutions by 2,189.8% in the 4th quarter. Lazard Asset Management LLC now owns 3,137 shares of the communications equipment provider’s stock valued at $32,000 after buying an additional 3,000 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Viavi Solutions in the 3rd quarter worth approximately $92,000. Oak Thistle LLC purchased a new position in Viavi Solutions in the 3rd quarter worth approximately $101,000. Coldstream Capital Management Inc. lifted its stake in Viavi Solutions by 13.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock worth $109,000 after purchasing an additional 1,411 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in Viavi Solutions in the 2nd quarter worth approximately $129,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VIAV has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research note on Monday. Susquehanna raised their target price on shares of Viavi Solutions from $12.00 to $14.00 and gave the stock a “positive” rating in a research note on Thursday, March 7th. Northland Securities raised their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Finally, Rosenblatt Securities reduced their price target on shares of Viavi Solutions from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.17.

Read Our Latest Stock Report on VIAV

Viavi Solutions Stock Up 0.6 %

VIAV stock opened at $9.03 on Thursday. The firm has a market cap of $2.01 billion, a PE ratio of 451.50 and a beta of 0.95. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09. The firm’s 50 day moving average price is $9.69 and its 200-day moving average price is $9.12. Viavi Solutions Inc. has a one year low of $7.26 and a one year high of $11.65.

Viavi Solutions (NASDAQ:VIAVGet Free Report) last posted its earnings results on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Viavi Solutions had a net margin of 0.49% and a return on equity of 5.38%. The firm had revenue of $254.50 million during the quarter, compared to the consensus estimate of $249.77 million. On average, equities research analysts anticipate that Viavi Solutions Inc. will post 0.22 EPS for the current year.

Insider Activity at Viavi Solutions

In related news, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares in the company, valued at approximately $615,322.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares in the company, valued at approximately $615,322.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $149,446.90. Following the completion of the transaction, the senior vice president now owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,093 shares of company stock worth $319,841. Insiders own 1.80% of the company’s stock.

About Viavi Solutions

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

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