Wells Fargo & Company MN Has $3.21 Million Holdings in Viavi Solutions Inc (VIAV)
Wells Fargo & Company MN boosted its holdings in shares of Viavi Solutions Inc (NASDAQ:VIAV) by 9.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 339,503 shares of the communications equipment provider’s stock after buying an additional 28,337 shares during the period. Wells Fargo & Company MN’s holdings in Viavi Solutions were worth $3,212,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services Inc acquired a new position in Viavi Solutions during the third quarter worth $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Viavi Solutions by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,635 shares of the communications equipment provider’s stock worth $112,000 after buying an additional 1,003 shares during the last quarter. BlueMountain Capital Management LLC acquired a new position in Viavi Solutions during the second quarter worth $123,000. Sciencast Management LP acquired a new position in Viavi Solutions during the second quarter worth $146,000. Finally, Stevens Capital Management LP acquired a new position in Viavi Solutions during the second quarter worth $175,000. 92.40% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Luke M. Scrivanich sold 3,920 shares of Viavi Solutions stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $8.97, for a total transaction of $35,162.40. Following the sale, the senior vice president now directly owns 27,629 shares of the company’s stock, valued at $247,832.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul Mcnab sold 3,003 shares of Viavi Solutions stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $9.05, for a total value of $27,177.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,713 shares of company stock worth $353,871. 0.59% of the stock is currently owned by company insiders.
Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Thursday, October 12th. Rosenblatt Securities set a $13.00 price target on Viavi Solutions and gave the company a “buy” rating in a research report on Wednesday, December 13th. Finally, Zacks Investment Research downgraded Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.50.
Shares of Viavi Solutions Inc (NASDAQ:VIAV) opened at $8.73 on Thursday. The stock has a market capitalization of $1,990.00, a PE ratio of 24.94, a PEG ratio of 1.48 and a beta of 1.90. Viavi Solutions Inc has a 1 year low of $8.21 and a 1 year high of $11.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.20 and a quick ratio of 2.10.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Wednesday, November 1st. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The company had revenue of $195.20 million for the quarter, compared to the consensus estimate of $183.89 million. Viavi Solutions had a return on equity of 8.99% and a net margin of 10.57%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. sell-side analysts predict that Viavi Solutions Inc will post 0.31 EPS for the current year.
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.
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.