CIBC Asset Management Inc Lowers Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

CIBC Asset Management Inc reduced its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 26.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,652 shares of the communications equipment provider’s stock after selling 5,703 shares during the quarter. CIBC Asset Management Inc’s holdings in Viavi Solutions were worth $158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of VIAV. Capital Performance Advisors LLP purchased a new stake in Viavi Solutions in the third quarter valued at approximately $25,000. KBC Group NV raised its stake in Viavi Solutions by 53.0% in the third 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 in the last quarter. Gilbert & Cook Inc. purchased a new stake in Viavi Solutions in the third quarter valued at approximately $95,000. Sequoia Financial Advisors LLC purchased a new stake in Viavi Solutions in the third quarter valued at approximately $105,000. Finally, Park Avenue Securities LLC grew its position in Viavi Solutions by 15.4% during the fourth quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock valued at $136,000 after acquiring an additional 1,792 shares during the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VIAV. UBS Group increased their price target on shares of Viavi Solutions from $10.60 to $11.50 and gave the company a “neutral” rating in a research report on Friday, January 31st. Rosenblatt Securities increased their price target on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Northland Securities reiterated an “outperform” rating and set a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Argus increased their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Finally, Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.33.

Insider Transactions at Viavi Solutions

In related news, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the sale, the director now owns 180,333 shares in the company, valued at $1,805,133.33. The trade was a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Luke M. Scrivanich sold 2,802 shares of Viavi Solutions stock in a transaction 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 owns 54,517 shares in the company, valued at approximately $568,612.31. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Viavi Solutions Stock Up 0.3 %

Shares of Viavi Solutions stock opened at $11.30 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $12.91. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -62.77 and a beta of 0.92. The company’s 50 day moving average price is $10.91 and its 200-day moving average price is $9.82.

Viavi Solutions Profile

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.