First Trust Advisors LP lifted its position in Viavi Solutions Inc (NASDAQ:VIAV) by 41.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 355,406 shares of the communications equipment provider’s stock after acquiring an additional 103,260 shares during the period. First Trust Advisors LP’s holdings in Viavi Solutions were worth $4,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new stake in Viavi Solutions in the fourth quarter valued at $45,000. Capital Investment Advisory Services LLC purchased a new stake in Viavi Solutions in the first quarter valued at $68,000. Penserra Capital Management LLC purchased a new stake in Viavi Solutions in the first quarter valued at $110,000. LS Investment Advisors LLC boosted its holdings in Viavi Solutions by 63.5% in the fourth quarter. LS Investment Advisors LLC now owns 10,817 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 4,202 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Viavi Solutions by 15.4% in the fourth quarter. Bank of Montreal Can now owns 11,698 shares of the communications equipment provider’s stock valued at $118,000 after purchasing an additional 1,564 shares during the last quarter. 92.54% of the stock is currently owned by hedge funds and other institutional investors.

VIAV stock opened at $13.05 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. Viavi Solutions Inc has a 52-week low of $9.17 and a 52-week high of $14.00. The stock has a market cap of $2.98 billion, a PE ratio of 38.38 and a beta of 0.98.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.03. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The business had revenue of $265.20 million for the quarter, compared to analyst estimates of $259.86 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Sell-side analysts forecast that Viavi Solutions Inc will post 0.53 earnings per share for the current fiscal year.

In other news, CFO Amar Maletira sold 2,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $13.31, for a total transaction of $33,275.00. Following the sale, the chief financial officer now directly owns 269,370 shares of the company’s stock, valued at approximately $3,585,314.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 4,906 shares of company stock worth $63,110. Corporate insiders own 0.50% of the company’s stock.

Several equities research analysts have commented on VIAV shares. BidaskClub lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. Zacks Investment Research lowered shares of Viavi Solutions from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. ValuEngine lowered shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Morgan Stanley set a $13.00 price target on shares of Viavi Solutions and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised shares of Viavi Solutions from an “underweight” rating to a “neutral” rating and upped their price target for the company from $12.00 to $13.00 in a report on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Viavi Solutions presently has a consensus rating of “Buy” and an average price target of $13.81.

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Viavi Solutions 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.

Further Reading: Trading Strategy Methods and Types

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

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