Viavi Solutions Inc (NASDAQ:VIAV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Viavi Solutions Inc (NASDAQ:VIAV) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,878,761 shares of the communications equipment provider’s stock after selling 3,438 shares during the period. Principal Financial Group Inc.’s holdings in Viavi Solutions were worth $23,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 361 Capital LLC purchased a new stake in shares of Viavi Solutions in the first quarter valued at $2,877,000. Parametrica Management Ltd purchased a new stake in shares of Viavi Solutions in the first quarter valued at $257,000. Prudential Financial Inc. lifted its holdings in shares of Viavi Solutions by 28.9% in the fourth quarter. Prudential Financial Inc. now owns 510,902 shares of the communications equipment provider’s stock valued at $5,135,000 after purchasing an additional 114,643 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Viavi Solutions by 11.1% in the fourth quarter. Victory Capital Management Inc. now owns 2,472,725 shares of the communications equipment provider’s stock valued at $24,851,000 after purchasing an additional 247,285 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Viavi Solutions by 69.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,993,944 shares of the communications equipment provider’s stock valued at $20,039,000 after purchasing an additional 818,549 shares in the last quarter. Institutional investors own 92.54% of the company’s stock.

NASDAQ VIAV opened at $12.92 on Friday. Viavi Solutions Inc has a 1-year low of $9.17 and a 1-year high of $14.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. The firm has a market capitalization of $2.95 billion, a PE ratio of 25.84 and a beta of 0.98.

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

A number of research firms have recently issued reports on VIAV. Zacks Investment Research upgraded Viavi Solutions from a “sell” rating to a “hold” rating in a report on Saturday, June 8th. TheStreet lowered Viavi Solutions from a “b-” rating to a “c+” rating in a report on Monday, June 3rd. BidaskClub lowered Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. Northland Securities set a $16.00 target price on Viavi Solutions and gave the company a “buy” rating in a report on Tuesday, June 11th. Finally, Morgan Stanley set a $13.00 target price on Viavi Solutions and gave the company a “hold” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $13.81.

In other Viavi Solutions news, CFO Amar Maletira sold 2,500 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $13.31, for a total transaction of $33,275.00. Following the transaction, the chief financial officer now directly owns 269,370 shares of the company’s stock, valued at $3,585,314.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 4,906 shares of company stock worth $63,110 over the last three months. Company insiders own 0.50% of the company’s stock.

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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.

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

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