Parsifal Capital Management LP Acquires New Position in Viavi Solutions Inc. $VIAV

Parsifal Capital Management LP purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 618,839 shares of the communications equipment provider’s stock, valued at approximately $29,549,562. Viavi Solutions comprises approximately 0.0% of Parsifal Capital Management LP’s holdings, making the stock its 12th biggest position. Parsifal Capital Management LP owned approximately 0.26% of Viavi Solutions at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in VIAV. Jefferies Financial Group Inc. acquired a new position in Viavi Solutions in the 4th quarter worth approximately $1,803,000. BlackRock Inc. acquired a new position in shares of Viavi Solutions in the second quarter valued at $1,228,529,000. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Viavi Solutions in the 4th quarter valued at $1,887,000. Tensor Edge Capital LLC bought a new position in Viavi Solutions during the 4th quarter worth approximately $2,673,000. Finally, Granahan Investment Management LLC purchased a new stake in shares of Viavi Solutions in the first quarter worth approximately $3,187,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Stock Performance

VIAV traded down $1.23 during trading on Friday, hitting $37.22. 1,316,513 shares of the company traded hands, compared to its average volume of 6,136,679. The stock’s fifty day moving average is $41.43 and its 200 day moving average is $40.84. The firm has a market cap of $9.18 billion, a P/E ratio of -248.12 and a beta of 1.21. The company has a quick ratio of 1.62, a current ratio of 1.85 and a debt-to-equity ratio of 0.27. Viavi Solutions Inc. has a one year low of $11.09 and a one year high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The firm had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $432.62 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The business’s revenue for the quarter was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, equities analysts predict that Viavi Solutions Inc. will post 1.32 EPS for the current fiscal year.

Analyst Ratings Changes

VIAV has been the topic of several recent research reports. Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Viavi Solutions from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Stifel Nicolaus upped their price objective on shares of Viavi Solutions from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group decreased their target price on Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Finally, B. Riley Financial cut their price objective on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.88.

Insiders Place Their Bets

In other Viavi Solutions news, Director Laura A. Black sold 71,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $46.12, for a total transaction of $3,274,520.00. Following the completion of the sale, the director directly owned 71,497 shares of the company’s stock, valued at approximately $3,297,441.64. This trade represents a 49.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Mcnab sold 1,595 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $37.37, for a total value of $59,605.15. Following the sale, the executive vice president directly owned 13,876 shares of the company’s stock, valued at approximately $518,546.12. This trade represents a 10.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.80% of the stock is currently owned by corporate insiders.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.