Raymond James Financial Inc. Takes Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Raymond James Financial Inc. bought a new stake in Viavi Solutions Inc. (NASDAQ:VIAV) in the fourth quarter, HoldingsChannel reports. The firm bought 71,109 shares of the communications equipment provider’s stock, valued at approximately $718,000.

Several other hedge funds also recently made changes to their positions in VIAV. Sanctuary Advisors LLC grew its holdings in Viavi Solutions by 8.1% in the fourth quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock worth $172,000 after purchasing an additional 1,288 shares during the period. Park Avenue Securities LLC grew its stake in shares of Viavi Solutions by 15.4% in the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after buying an additional 1,792 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Viavi Solutions by 5.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock worth $442,000 after buying an additional 2,277 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Viavi Solutions by 7.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider’s stock valued at $530,000 after buying an additional 4,043 shares in the last quarter. Finally, Gagnon Securities LLC raised its stake in Viavi Solutions by 23.1% during the fourth quarter. Gagnon Securities LLC now owns 23,949 shares of the communications equipment provider’s stock valued at $242,000 after buying an additional 4,491 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.

Viavi Solutions Trading Down 5.6 %

Shares of VIAV stock opened at $9.86 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.18 and a current ratio of 3.55. The stock has a fifty day simple moving average of $11.39 and a two-hundred day simple moving average of $10.37. The firm has a market capitalization of $2.19 billion, a PE ratio of -54.77 and a beta of 0.89. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $12.91.

Insider Activity at Viavi Solutions

In other Viavi Solutions 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 directly owns 180,333 shares in the company, valued at approximately $1,805,133.33. The trade was a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Luke M. Scrivanich sold 14,323 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $11.24, for a total transaction of $160,990.52. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,164 shares of company stock valued at $711,422. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VIAV shares. StockNews.com downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 18th. Rosenblatt Securities upgraded shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Friday, March 7th. Northland Securities reiterated an “outperform” rating and issued a $14.00 target price (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price target (up previously from $12.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Finally, UBS Group upped their price objective on Viavi Solutions from $10.60 to $11.50 and gave the company a “neutral” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.72.

About Viavi Solutions

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.