Arrowstreet Capital Limited Partnership Buys New Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Arrowstreet Capital Limited Partnership purchased a new position in Viavi Solutions Inc. (NASDAQ:VIAV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,511,726 shares of the communications equipment provider’s stock, valued at approximately $15,268,000. Arrowstreet Capital Limited Partnership owned 0.68% of Viavi Solutions at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management raised its holdings in Viavi Solutions by 35.0% in the 4th quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 833 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Viavi Solutions during the 4th quarter valued at about $75,000. Smartleaf Asset Management LLC grew its stake in shares of Viavi Solutions by 836.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after acquiring an additional 7,434 shares during the period. Retirement Solution LLC purchased a new stake in Viavi Solutions in the 4th quarter worth approximately $105,000. Finally, Park Avenue Securities LLC raised its stake in Viavi Solutions by 15.4% during the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after acquiring an additional 1,792 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on VIAV. Argus upped their price target on shares of Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. UBS Group increased their price target on Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, January 31st. Rosenblatt Securities upgraded Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Friday, March 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Insider Activity at Viavi Solutions

In other news, EVP Paul Mcnab sold 9,034 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total transaction of $100,187.06. Following the sale, the executive vice president now directly owns 38,775 shares in the company, valued at approximately $430,014.75. This represents a 18.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $10.86, for a total value of $149,944.02. The disclosure for this sale can be found here. Insiders have sold a total of 67,164 shares of company stock valued at $711,422 over the last 90 days. 1.52% of the stock is owned by corporate insiders.

Viavi Solutions Stock Down 5.6 %

Shares of VIAV opened at $9.86 on Friday. The business’s 50 day simple moving average is $11.39 and its 200-day simple moving average is $10.36. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $12.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of -54.77 and a beta of 0.89.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.