First Horizon Advisors Inc. Raises Position in Viavi Solutions Inc. (NASDAQ:VIAV)

First Horizon Advisors Inc. lifted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 29.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,046 shares of the communications equipment provider’s stock after buying an additional 1,138 shares during the quarter. First Horizon Advisors Inc.’s holdings in Viavi Solutions were worth $56,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its position in shares of Viavi Solutions by 35.0% during the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after acquiring an additional 833 shares during the last quarter. USA Financial Formulas purchased a new stake in Viavi Solutions during the 1st quarter worth approximately $53,000. Sterling Capital Management LLC increased its holdings in Viavi Solutions by 804.6% during the 4th quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 6,171 shares during the last quarter. TD Waterhouse Canada Inc. raised its position 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. Finally, KBC Group NV boosted its stake in shares of Viavi Solutions by 38.1% during the 1st quarter. KBC Group NV now owns 12,967 shares of the communications equipment provider’s stock valued at $145,000 after buying an additional 3,579 shares during the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Stock Down 2.0%

Shares of Viavi Solutions stock opened at $10.23 on Tuesday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 511.76 and a beta of 0.88. Viavi Solutions Inc. has a twelve month low of $6.89 and a twelve month high of $12.91. The company has a current ratio of 1.53, a quick ratio of 1.32 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $9.53 and its 200-day simple moving average is $10.36.

Insider Buying and Selling

In other Viavi Solutions news, Director Richard Belluzzo sold 8,385 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $10.02, for a total value of $84,017.70. Following the sale, the director directly owned 242,311 shares of the company’s stock, valued at $2,427,956.22. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VIAV shares. UBS Group dropped their price target on shares of Viavi Solutions from $11.50 to $11.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. B. Riley dropped their target price on shares of Viavi Solutions from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities restated a “buy” rating and issued a $13.50 target price on shares of Viavi Solutions in a research note on Friday, June 20th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Viavi Solutions in a research note on Friday, May 2nd. Finally, Wall Street Zen raised Viavi Solutions from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.