PineBridge Investments L.P. increased its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,488 shares of the company’s stock after buying an additional 1,174 shares during the period. PineBridge Investments L.P.’s holdings in Viavi Solutions were worth $195,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Viavi Solutions by 7.2% in the second quarter. Vanguard Group Inc. now owns 20,350,826 shares of the company’s stock worth $134,925,000 after buying an additional 1,362,371 shares during the last quarter. BlackRock Fund Advisors acquired a new position in Viavi Solutions during the first quarter worth about $79,931,000. Dimensional Fund Advisors LP increased its position in Viavi Solutions by 24.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,619,371 shares of the company’s stock worth $43,886,000 after buying an additional 1,288,157 shares during the last quarter. BlackRock Institutional Trust Company N.A. acquired a new position in Viavi Solutions during the first quarter worth about $39,789,000. Finally, DNB Asset Management AS increased its position in Viavi Solutions by 3.1% in the second quarter. DNB Asset Management AS now owns 4,650,366 shares of the company’s stock worth $30,832,000 after buying an additional 138,663 shares during the last quarter. 87.21% of the stock is owned by institutional investors.
Shares of Viavi Solutions Inc. (NASDAQ:VIAV) opened at 7.38 on Thursday. The company’s market capitalization is $1.71 billion. The firm’s 50 day moving average is $7.59 and its 200-day moving average is $6.96. Viavi Solutions Inc. has a 52-week low of $4.68 and a 52-week high of $7.94.
Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Viavi Solutions had a negative net margin of 10.95% and a positive return on equity of 6.67%. The company had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. During the same period in the prior year, the company posted $0.13 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Viavi Solutions Inc. will post $0.35 earnings per share for the current fiscal year.
VIAV has been the topic of a number of recent research reports. MKM Partners restated a “buy” rating and issued a $8.50 price target on shares of Viavi Solutions in a research report on Monday, September 19th. William Blair restated a “buy” rating on shares of Viavi Solutions in a research report on Monday, June 6th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Wednesday, August 17th. Jefferies Group lifted their price objective on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Tuesday, September 20th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Viavi Solutions has an average rating of “Hold” and an average target price of $7.45.
In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,415 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $7.84, for a total transaction of $113,013.60. Following the transaction, the senior vice president now directly owns 12,686 shares in the company, valued at approximately $99,458.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 36,690 shares of the company’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $7.40, for a total transaction of $271,506.00. Following the transaction, the executive vice president now owns 27,936 shares in the company, valued at $206,726.40. The disclosure for this sale can be found here. Company insiders own 0.77% of the company’s stock.
About Viavi Solutions
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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