Jennison Associates LLC Has $1.10 Million Stake in Viavi Solutions Inc. (VIAV)
Jennison Associates LLC cut its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 22.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 103,963 shares of the communications equipment provider’s stock after selling 30,670 shares during the period. Jennison Associates LLC’s holdings in Viavi Solutions were worth $1,095,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Viavi Solutions by 48,994.6% in the first quarter. BlackRock Inc. now owns 30,339,979 shares of the communications equipment provider’s stock valued at $325,243,000 after buying an additional 30,278,180 shares during the period. Teachers Advisors LLC boosted its stake in shares of Viavi Solutions by 568.2% in the first quarter. Teachers Advisors LLC now owns 2,600,431 shares of the communications equipment provider’s stock valued at $27,877,000 after buying an additional 2,211,252 shares during the period. FMR LLC boosted its stake in shares of Viavi Solutions by 543.9% in the first quarter. FMR LLC now owns 1,834,270 shares of the communications equipment provider’s stock valued at $19,664,000 after buying an additional 1,549,400 shares during the period. Myriad Asset Management Ltd. acquired a new stake in shares of Viavi Solutions during the first quarter valued at $13,347,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Viavi Solutions during the first quarter valued at $9,466,000. Institutional investors and hedge funds own 92.77% of the company’s stock.
Shares of Viavi Solutions Inc. (NASDAQ VIAV) opened at 10.11 on Wednesday. Viavi Solutions Inc. has a one year low of $6.99 and a one year high of $11.89. The company’s 50 day moving average is $10.77 and its 200 day moving average is $10.65. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 14.30 and a beta of 1.36.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Tuesday, August 15th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.03. The firm had revenue of $198.10 million for the quarter, compared to the consensus estimate of $196.22 million. Viavi Solutions had a return on equity of 8.46% and a net margin of 20.57%. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. Equities research analysts predict that Viavi Solutions Inc. will post $0.41 earnings per share for the current year.
VIAV has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, May 9th. BidaskClub raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. TheStreet lowered shares of Viavi Solutions from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. Jefferies Group LLC raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and raised their target price for the company from $9.50 to $14.00 in a report on Friday, May 5th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $11.00 target price (up from $9.50) on shares of Viavi Solutions in a report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $12.34.
In other news, SVP Luke M. Scrivanich sold 6,179 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $10.21, for a total transaction of $63,087.59. Following the transaction, the senior vice president now owns 18,938 shares of the company’s stock, valued at approximately $193,356.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ralph Rondinone sold 4,569 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $9.83, for a total value of $44,913.27. Following the transaction, the senior vice president now directly owns 7,239 shares in the company, valued at approximately $71,159.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,019 shares of company stock worth $274,643. Corporate insiders own 0.35% of the company’s stock.
Viavi Solutions Company Profile
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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