3,248,196 Shares in Viavi Solutions Inc. (NASDAQ:VIAV) Acquired by Capital Research Global Investors

Capital Research Global Investors purchased a new position in Viavi Solutions Inc. (NASDAQ:VIAV) during the first quarter, HoldingsChannel reports. The fund purchased 3,248,196 shares of the communications equipment provider’s stock, valued at approximately $29,526,000.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Viavi Solutions during the 1st quarter worth approximately $55,000. Park Avenue Securities LLC purchased a new stake in shares of Viavi Solutions during the 1st quarter worth approximately $99,000. Versor Investments LP purchased a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $110,000. Quadrant Capital Group LLC raised its holdings in shares of Viavi Solutions by 49.0% during the 4th quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock worth $121,000 after acquiring an additional 3,952 shares in the last quarter. Finally, Heritage Wealth Management LLC purchased a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $150,000. 95.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, EVP Paul Mcnab sold 6,822 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total value of $50,005.26. Following the completion of the sale, the executive vice president now directly owns 42,955 shares in the company, valued at approximately $314,860.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 14,985 shares of company stock valued at $109,969 in the last quarter. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VIAV shares. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. Rosenblatt Securities downgraded Viavi Solutions from a “buy” rating to a “neutral” rating and cut their target price for the company from $10.00 to $8.25 in a research report on Wednesday, June 26th. Susquehanna downgraded Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Friday, May 3rd. Finally, Argus raised Viavi Solutions to a “strong-buy” rating in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.65.

Viavi Solutions Trading Up 3.3 %

Shares of Viavi Solutions stock opened at $7.84 on Friday. The stock’s fifty day moving average is $7.39 and its two-hundred day moving average is $8.55. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. Viavi Solutions Inc. has a 52 week low of $6.60 and a 52 week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $246.00 million during the quarter, compared to the consensus estimate of $249.08 million. Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. Sell-side analysts predict that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Viavi Solutions Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.