Federated Hermes Inc. Has $1.76 Million Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Federated Hermes Inc. decreased its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 174,560 shares of the communications equipment provider’s stock after selling 9,781 shares during the quarter. Federated Hermes Inc.’s holdings in Viavi Solutions were worth $1,763,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its position in Viavi Solutions by 26.3% during the fourth quarter. Wellington Management Group LLP now owns 19,614,684 shares of the communications equipment provider’s stock worth $198,108,000 after acquiring an additional 4,085,648 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Viavi Solutions during the 4th quarter worth approximately $16,722,000. Arrowstreet Capital Limited Partnership bought a new stake in Viavi Solutions in the 4th quarter valued at $15,268,000. Bank of New York Mellon Corp grew its holdings in Viavi Solutions by 14.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock valued at $35,106,000 after buying an additional 435,265 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Viavi Solutions by 100.9% during the 4th quarter. American Century Companies Inc. now owns 409,337 shares of the communications equipment provider’s stock worth $4,134,000 after buying an additional 205,546 shares during the period. Institutional investors own 95.54% of the company’s stock.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,323 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total value of $160,990.52. Following the sale, the senior vice president now owns 55,877 shares in the company, valued at $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP James L. Veler, Jr. sold 13,807 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The disclosure for this sale can be found here. Insiders have sold a total of 67,164 shares of company stock worth $711,422 over the last 90 days. Insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

VIAV has been the topic of several research reports. Morgan Stanley decreased their price target on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group raised their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a report on Friday, January 31st. Northland Securities reiterated an “outperform” rating and issued a $14.00 price target (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Argus raised their price objective on Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities raised Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Viavi Solutions Price Performance

Viavi Solutions stock opened at $9.87 on Monday. 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 $2.19 billion, a P/E ratio of -54.83 and a beta of 0.89. The stock has a fifty day moving average of $11.25 and a 200-day moving average of $10.44.

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.