Allianz Asset Management AG continued to hold its stake in shares of Viavi Solutions Inc (NASDAQ:VIAV) during the fourth quarter, Holdings Channel reports. The fund owned 132,240 shares of the company’s stock at the end of the fourth quarter. Allianz Asset Management AG’s holdings in Viavi Solutions were worth $1,082,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in VIAV. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Viavi Solutions by 79.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 592,615 shares of the company’s stock worth $4,848,000 after buying an additional 263,270 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Viavi Solutions by 62.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,221,400 shares of the company’s stock worth $9,026,000 after buying an additional 471,300 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Viavi Solutions by 4.5% in the third quarter. Rhumbline Advisers now owns 385,504 shares of the company’s stock worth $2,849,000 after buying an additional 16,600 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Viavi Solutions by 8.6% in the third quarter. BlackRock Fund Advisors now owns 17,036,852 shares of the company’s stock worth $125,902,000 after buying an additional 1,342,873 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Viavi Solutions by 3.8% in the third quarter. BlackRock Inc. now owns 63,321 shares of the company’s stock worth $469,000 after buying an additional 2,297 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Viavi Solutions Inc (NASDAQ:VIAV) opened at 10.78 on Tuesday. The company has a 50-day moving average of $9.96 and a 200-day moving average of $8.39. The stock has a market capitalization of $2.48 billion, a P/E ratio of 27.57 and a beta of 1.51. Viavi Solutions Inc has a 52 week low of $5.93 and a 52 week high of $11.00.
Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Tuesday, January 31st. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. Viavi Solutions had a return on equity of 8.22% and a net margin of 10.29%. The business earned $206.50 million during the quarter, compared to analyst estimates of $197.73 million. During the same quarter in the previous year, the firm earned $0.11 EPS. Viavi Solutions’s revenue was down 11.0% on a year-over-year basis. On average, analysts anticipate that Viavi Solutions Inc will post $0.36 EPS for the current year.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. TheStreet raised shares of Viavi Solutions from a “c+” rating to a “b-” rating in a report on Thursday, March 2nd. Rosenblatt Securities assumed coverage on shares of Viavi Solutions in a report on Tuesday, March 14th. They issued a “buy” rating and a $17.20 price target on the stock. B. Riley reissued a “neutral” rating and issued a $6.75 price target on shares of Viavi Solutions in a report on Monday, January 30th. Finally, William Blair reissued an “outperform” rating on shares of Viavi Solutions in a report on Wednesday, February 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Viavi Solutions has a consensus rating of “Buy” and a consensus price target of $10.06.
In other Viavi Solutions news, SVP Susan Louise Spradley sold 13,110 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $8.40, for a total transaction of $110,124.00. Following the completion of the sale, the senior vice president now directly owns 29,354 shares in the company, valued at approximately $246,573.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kevin Christopher Siebert sold 10,500 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $10.77, for a total value of $113,085.00. Following the sale, the vice president now owns 4,475 shares of the company’s stock, valued at $48,195.75. The disclosure for this sale can be found here. In the last three months, insiders sold 112,768 shares of company stock valued at $1,081,678. 0.35% of the stock is owned by insiders.
About Viavi Solutions
Viavi Solutions Inc (Viavi) is a provider of network test, monitoring and assurance solutions to communications service providers, enterprises and their ecosystems. The Company also offers thin film optical coatings, providing light management solutions to anti-counterfeiting, consumer and industrial, government and healthcare and other markets.
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