Tower Research Capital LLC TRC Lowers Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Tower Research Capital LLC TRC lowered its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 24.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,326 shares of the communications equipment provider’s stock after selling 1,365 shares during the period. Tower Research Capital LLC TRC’s holdings in Viavi Solutions were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in VIAV. Picton Mahoney Asset Management lifted its holdings in Viavi Solutions by 35.0% during the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after buying an additional 833 shares in the last quarter. 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 purchasing an additional 6,171 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Viavi Solutions in the 4th quarter valued at $75,000. Smartleaf Asset Management LLC raised its holdings in shares of 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 purchasing an additional 7,434 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of 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 purchasing an additional 3,684 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,323 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total transaction of $160,990.52. Following the transaction, the senior vice president now directly owns 55,877 shares of the company’s stock, valued at approximately $628,057.48. This trade represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Belluzzo sold 8,385 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $8.92, for a total transaction of $74,794.20. Following the transaction, the director now directly owns 259,081 shares in the company, valued at $2,311,002.52. The trade was a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,549 shares of company stock valued at $485,916 in the last ninety days. Insiders own 1.52% of the company’s stock.

Viavi Solutions Trading Up 0.1%

NASDAQ VIAV opened at $9.49 on Wednesday. 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 firm’s fifty day moving average price is $10.37 and its 200 day moving average price is $10.53. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -52.72 and a beta of 0.92. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Viavi Solutions from $12.00 to $13.50 and gave the company a “buy” rating in a report on Friday, May 2nd. Northland Securities restated an “outperform” rating and issued a $14.00 price objective (up from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. Argus raised their price objective on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. B. Riley reduced their price objective on shares of Viavi Solutions from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Finally, UBS Group reduced their price objective on shares of Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Viavi Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.69.

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.