Prudential Financial Inc. lessened its holdings in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 20.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 397,705 shares of the communications equipment provider’s stock after selling 104,570 shares during the period. Prudential Financial Inc. owned 0.17% of Viavi Solutions worth $5,285,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Menta Capital LLC boosted its holdings in Viavi Solutions by 40.1% during the second quarter. Menta Capital LLC now owns 79,000 shares of the communications equipment provider’s stock worth $1,050,000 after buying an additional 22,610 shares during the last quarter. Chase Investment Counsel Corp bought a new position in Viavi Solutions during the second quarter worth about $744,000. Axiom International Investors LLC DE boosted its holdings in Viavi Solutions by 17.7% during the second quarter. Axiom International Investors LLC DE now owns 193,255 shares of the communications equipment provider’s stock worth $2,568,000 after buying an additional 29,120 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Viavi Solutions by 27.4% during the second quarter. GSA Capital Partners LLP now owns 19,429 shares of the communications equipment provider’s stock worth $258,000 after buying an additional 4,181 shares during the last quarter. Finally, 1492 Capital Management LLC bought a new position in Viavi Solutions during the second quarter worth about $654,000. Institutional investors own 94.70% of the company’s stock.

In related news, SVP Luke M. Scrivanich sold 7,398 shares of Viavi Solutions stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $13.91, for a total value of $102,906.18. Following the sale, the senior vice president now owns 46,295 shares of the company’s stock, valued at approximately $643,963.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ralph Rondinone sold 3,200 shares of Viavi Solutions stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $14.19, for a total value of $45,408.00. Following the completion of the sale, the senior vice president now directly owns 27,398 shares in the company, valued at approximately $388,777.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,067 shares of company stock worth $403,984. 0.50% of the stock is currently owned by insiders.

A number of brokerages have issued reports on VIAV. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Viavi Solutions in a report on Friday, August 16th. Zacks Investment Research restated a “sell” rating on shares of Viavi Solutions in a report on Saturday, September 7th. Needham & Company LLC raised their target price on Viavi Solutions from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday. ValuEngine lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.63.

Shares of NASDAQ VIAV traded up $0.44 during mid-day trading on Friday, reaching $14.83. 112,787 shares of the company’s stock were exchanged, compared to its average volume of 1,886,564. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 28.53 and a beta of 1.02. The company has a current ratio of 3.23, a quick ratio of 2.87 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $14.08 and a 200 day simple moving average of $13.31. Viavi Solutions Inc has a twelve month low of $9.17 and a twelve month high of $15.17.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $289.70 million for the quarter, compared to analyst estimates of $279.18 million. Viavi Solutions had a return on equity of 16.75% and a net margin of 0.48%. Viavi Solutions’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts predict that Viavi Solutions Inc will post 0.55 earnings per share for the current fiscal year.

Viavi Solutions Company Profile

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.

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Institutional Ownership by Quarter for Viavi Solutions (NASDAQ:VIAV)

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