PNC Financial Services Group Inc. Decreases Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

PNC Financial Services Group Inc. lessened its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,229 shares of the communications equipment provider’s stock after selling 3,382 shares during the period. PNC Financial Services Group Inc.’s holdings in Viavi Solutions were worth $386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in shares of Viavi Solutions in the fourth quarter worth about $75,000. Smartleaf Asset Management LLC grew its stake in Viavi Solutions by 836.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after buying an additional 7,434 shares in the last quarter. KBC Group NV lifted its position in shares of Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 3,252 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Viavi Solutions by 15.4% in the fourth quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after acquiring an additional 1,792 shares during the period. Finally, Sanctuary Advisors LLC grew its position in shares of Viavi Solutions by 44.1% in the third quarter. Sanctuary Advisors LLC now owns 15,938 shares of the communications equipment provider’s stock valued at $144,000 after purchasing an additional 4,875 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Down 0.1 %

NASDAQ VIAV opened at $11.36 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -63.11 and a beta of 0.94. The stock’s 50-day simple moving average is $11.17 and its two-hundred day simple moving average is $10.13. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $12.91.

Insider Buying and Selling

In other news, SVP Luke M. Scrivanich sold 14,323 shares of Viavi Solutions stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $11.24, for a total value of $160,990.52. Following the transaction, the senior vice president now owns 55,877 shares in the company, valued at approximately $628,057.48. The trade was a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James L. Veler, Jr. sold 13,807 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. Insiders sold 67,164 shares of company stock worth $711,422 in the last quarter. 1.52% of the stock is owned by insiders.

Analyst Ratings Changes

VIAV has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. StockNews.com cut shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Rosenblatt Securities upgraded shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, March 7th. UBS Group increased their price objective on Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Argus lifted their price objective on Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Viavi Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Viavi Solutions Company 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.