Viavi Solutions Inc. (NASDAQ:VIAV) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,293 shares of the communications equipment provider’s stock after selling 9,164 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Viavi Solutions worth $1,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VIAV. Geode Capital Management LLC lifted its stake in shares of Viavi Solutions by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock worth $47,887,000 after acquiring an additional 54,633 shares during the period. Sanctuary Advisors LLC lifted its position in 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 during the period. Charles Schwab Investment Management Inc. boosted its holdings in Viavi Solutions by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider’s stock valued at $33,682,000 after purchasing an additional 139,934 shares in the last quarter. Amundi raised its stake in shares of Viavi Solutions by 185.5% during the 4th quarter. Amundi now owns 111,730 shares of the communications equipment provider’s stock worth $1,132,000 after buying an additional 72,599 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted 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 buying an additional 7,434 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $9.86 on Friday. The firm’s fifty day simple moving average is $11.39 and its 200 day simple moving average is $10.36. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $12.91. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -54.77 and a beta of 0.89.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Rosenblatt Securities raised Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, March 7th. Argus lifted their price target on Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. B. Riley increased their price objective on shares of Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.72.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,323 shares of the 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 completion of the sale, the senior vice president now owns 55,877 shares of the company’s stock, valued at $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,164 shares of company stock valued at $711,422 over the last three months. 1.52% of the stock is owned by company insiders.

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.