Stephens Inc. AR bought a new stake in shares of Viavi Solutions Inc (NASDAQ:VIAV) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 48,100 shares of the communications equipment provider’s stock, valued at approximately $595,000.

A number of other hedge funds have also added to or reduced their stakes in VIAV. State of Alaska Department of Revenue raised its stake in Viavi Solutions by 2.5% during the fourth quarter. State of Alaska Department of Revenue now owns 76,388 shares of the communications equipment provider’s stock worth $767,000 after acquiring an additional 1,840 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Viavi Solutions during the fourth quarter worth $31,000. Bank of Montreal Can raised its stake in Viavi Solutions by 15.4% during the fourth quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock worth $118,000 after acquiring an additional 1,564 shares in the last quarter. Strs Ohio raised its stake in Viavi Solutions by 75.0% during the fourth quarter. Strs Ohio now owns 11,900 shares of the communications equipment provider’s stock worth $119,000 after acquiring an additional 5,100 shares in the last quarter. Finally, First Quadrant L P CA acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at $76,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.

Viavi Solutions stock traded down $0.10 during mid-day trading on Wednesday, hitting $12.42. The stock had a trading volume of 12,462 shares, compared to its average volume of 2,292,122. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 36.79 and a beta of 0.90. Viavi Solutions Inc has a 12 month low of $9.17 and a 12 month high of $14.00. The company has a quick ratio of 2.86, a current ratio of 3.19 and a debt-to-equity ratio of 0.79.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $265.20 million for the quarter, compared to analysts’ expectations of $259.86 million. Viavi Solutions had a positive return on equity of 15.88% and a negative net margin of 3.25%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 earnings per share. As a group, sell-side analysts expect that Viavi Solutions Inc will post 0.53 EPS for the current year.

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 4,810 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $13.29, for a total transaction of $63,924.90. Following the transaction, the senior vice president now owns 45,456 shares in the company, valued at $604,110.24. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is currently owned by company insiders.

A number of brokerages have recently weighed in on VIAV. BidaskClub lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Saturday, February 9th. ValuEngine upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Monday, February 4th. TheStreet upgraded Viavi Solutions from a “c” rating to a “b-” rating in a report on Wednesday, February 6th. Finally, Northland Securities began coverage on Viavi Solutions in a report on Tuesday, February 12th. They issued an “outperform” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Viavi Solutions has a consensus rating of “Buy” and a consensus target price of $13.33.

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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.

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

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