Fisher Asset Management LLC Has $9.05 Million Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Fisher Asset Management LLC raised its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,002,957 shares of the communications equipment provider’s stock after acquiring an additional 27,493 shares during the quarter. Fisher Asset Management LLC’s holdings in Viavi Solutions were worth $9,047,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of Viavi Solutions during the 3rd quarter valued at $25,000. Innealta Capital LLC acquired a new position in Viavi Solutions during the second quarter worth $38,000. Quarry LP raised its holdings in Viavi Solutions by 419.7% during the second quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after buying an additional 5,838 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions in the second quarter worth about $52,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Viavi Solutions during the 2nd quarter worth about $76,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Stock Performance

NASDAQ:VIAV opened at $9.88 on Thursday. The firm’s 50-day moving average is $9.41 and its 200-day moving average is $8.28. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -58.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 3.31 and a current ratio of 3.71. Viavi Solutions Inc. has a 52-week low of $6.60 and a 52-week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts anticipate that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Luke M. Scrivanich sold 3,029 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the transaction, the senior vice president now owns 57,319 shares in the company, valued at $507,846.34. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul Mcnab sold 5,920 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $8.45, for a total value of $50,024.00. Following the completion of the sale, the executive vice president now owns 34,545 shares in the company, valued at $291,905.25. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,949 shares of company stock worth $489,511 over the last 90 days. Corporate insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VIAV shares. UBS Group initiated coverage on Viavi Solutions in a research note on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price objective on the stock. Stifel Nicolaus reduced their price objective on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Northland Securities upped their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. B. Riley dropped their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Viavi Solutions has an average rating of “Moderate Buy” and an average price target of $10.44.

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.