ZWJ Investment Counsel Inc. Takes Position in Viavi Solutions Inc. (NASDAQ:VIAV)

ZWJ Investment Counsel Inc. purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 25,673 shares of the communications equipment provider’s stock, valued at approximately $232,000.

A number of other institutional investors also recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in Viavi Solutions by 11.3% during the first quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock worth $157,000 after purchasing an additional 1,756 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Viavi Solutions by 1.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after purchasing an additional 2,100 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Viavi Solutions by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 194,787 shares of the communications equipment provider’s stock worth $1,771,000 after purchasing an additional 2,754 shares during the period. QRG Capital Management Inc. increased its holdings in Viavi Solutions by 15.6% in the first quarter. QRG Capital Management Inc. now owns 21,340 shares of the communications equipment provider’s stock worth $194,000 after purchasing an additional 2,883 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Viavi Solutions by 7.4% in the first quarter. ProShare Advisors LLC now owns 44,645 shares of the communications equipment provider’s stock worth $406,000 after purchasing an additional 3,072 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the completion of the sale, the executive vice president now directly owns 35,631 shares in the company, valued at $267,945.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 8,432 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $8.63, for a total transaction of $72,768.16. Following the completion of the sale, the senior vice president now directly owns 56,617 shares in the company, valued at $488,604.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Paul Mcnab sold 7,324 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $7.52, for a total transaction of $55,076.48. Following the completion of the transaction, the executive vice president now owns 35,631 shares in the company, valued at $267,945.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 85,976 shares of company stock worth $720,562 in the last ninety days. 1.80% of the stock is currently owned by insiders.

Viavi Solutions Stock Up 0.9 %

Viavi Solutions stock opened at $9.33 on Friday. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -466.50 and a beta of 0.91. The firm has a 50 day simple moving average of $8.48 and a 200 day simple moving average of $7.96. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $252.00 million for the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a negative net margin of 2.58% and a positive return on equity of 3.81%. On average, analysts predict that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on VIAV shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Rosenblatt Securities lowered shares of Viavi Solutions from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. Stifel Nicolaus dropped their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a report on Tuesday, August 6th. B. Riley cut their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.71.

Viavi Solutions Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.