Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,612 shares of the communications equipment provider’s stock after selling 3,310 shares during the period. Hsbc Holdings PLC’s holdings in Viavi Solutions were worth $258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management raised its position in Viavi Solutions by 35.0% in the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock valued at $32,000 after purchasing an additional 833 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Viavi Solutions by 804.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock valued at $70,000 after buying an additional 6,171 shares during the period. Venturi Wealth Management LLC acquired a new position in Viavi Solutions during the 4th quarter worth about $75,000. Smartleaf Asset Management LLC boosted its holdings in Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after acquiring an additional 7,434 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in Viavi Solutions by 64.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider’s stock valued at $95,000 after acquiring an additional 3,684 shares in the last quarter. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Viavi Solutions

In other news, SVP James L. Veler, Jr. sold 13,807 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Belluzzo sold 8,385 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $8.92, for a total transaction of $74,794.20. Following the completion of the sale, the director now owns 259,081 shares of the company’s stock, valued at approximately $2,311,002.52. This trade represents a 3.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,549 shares of company stock worth $485,916. Corporate insiders own 1.52% of the company’s stock.

Viavi Solutions Trading Up 0.3 %

NASDAQ VIAV opened at $9.20 on Friday. The firm’s fifty day moving average price is $10.43 and its 200 day moving average price is $10.52. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -51.11 and a beta of 0.92.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VIAV shares. Morgan Stanley lowered their price objective on shares of Viavi Solutions from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research note on Friday, May 2nd. Northland Securities reiterated an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Argus boosted their target price 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, Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.69.

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.