Louisiana State Employees Retirement System Has $862,000 Holdings in Viavi Solutions Inc (VIAV)
Louisiana State Employees Retirement System trimmed its position in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 85,742 shares of the communications equipment provider’s stock after selling 14,158 shares during the period. Louisiana State Employees Retirement System’s holdings in Viavi Solutions were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates acquired a new position in Viavi Solutions during the 2nd quarter valued at about $109,000. Main Street Research LLC acquired a new position in Viavi Solutions during the 3rd quarter valued at about $121,000. Paloma Partners Management Co bought a new stake in shares of Viavi Solutions during the 3rd quarter worth about $188,000. Quantbot Technologies LP bought a new stake in shares of Viavi Solutions during the 3rd quarter worth about $250,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Viavi Solutions by 118.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 33,057 shares of the communications equipment provider’s stock worth $375,000 after buying an additional 17,912 shares in the last quarter. 89.74% of the stock is owned by hedge funds and other institutional investors.
VIAV stock opened at $10.50 on Wednesday. Viavi Solutions Inc has a 52 week low of $8.49 and a 52 week high of $12.82. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 30.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.18 and a current ratio of 2.39.
In related news, Director Keith Barnes sold 11,074 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $9.73, for a total value of $107,750.02. Following the sale, the director now directly owns 98,471 shares in the company, valued at approximately $958,122.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 13,149 shares of company stock worth $127,959 over the last quarter. Insiders own 0.50% of the company’s stock.
A number of analysts have commented on VIAV shares. ValuEngine upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Deutsche Bank upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Monday, October 1st. Stifel Nicolaus started coverage on shares of Viavi Solutions in a research report on Monday, October 22nd. They set a “buy” rating and a $14.00 price target on the stock. BidaskClub downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Viavi Solutions from $11.00 to $12.00 and gave the stock a “sell” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $11.88.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another website, it was illegally copied and republished in violation of US and international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/louisiana-state-employees-retirement-system-has-862000-holdings-in-viavi-solutions-inc-viav/2764806.html.
About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
Featured Article: Risk Tolerance and Your Investment Decisions
Want to see what other hedge funds are holding VIAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Viavi Solutions Inc (NASDAQ:VIAV).
Receive News & Ratings for Viavi Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viavi Solutions and related companies with MarketBeat.com's FREE daily email newsletter.