Heritage Wealth Management LLC Purchases New Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Heritage Wealth Management LLC purchased a new stake in Viavi Solutions Inc. (NASDAQ:VIAV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,932 shares of the communications equipment provider’s stock, valued at approximately $150,000.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Viavi Solutions by 9.0% during the third quarter. Wellington Management Group LLP now owns 15,925,361 shares of the communications equipment provider’s stock worth $145,558,000 after buying an additional 1,321,599 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Viavi Solutions by 399.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,044,366 shares of the communications equipment provider’s stock worth $10,517,000 after buying an additional 835,248 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Viavi Solutions by 36.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,872,760 shares of the communications equipment provider’s stock worth $26,257,000 after buying an additional 768,759 shares during the period. Penserra Capital Management LLC lifted its holdings in Viavi Solutions by 141.9% during the third quarter. Penserra Capital Management LLC now owns 759,275 shares of the communications equipment provider’s stock worth $6,939,000 after buying an additional 445,403 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Viavi Solutions by 1.5% during the third quarter. Vanguard Group Inc. now owns 28,288,576 shares of the communications equipment provider’s stock worth $258,558,000 after buying an additional 424,564 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 equities analysts have recently issued reports on VIAV shares. Northland Securities upped their price target on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target on shares of Viavi Solutions in a research report on Monday, April 1st. Susquehanna downgraded Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Friday. Finally, Rosenblatt Securities cut their target price on Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Viavi Solutions Price Performance

Shares of VIAV opened at $7.56 on Friday. The business’s 50-day moving average is $9.11 and its two-hundred day moving average is $9.03. The company has a market capitalization of $1.68 billion, a P/E ratio of 378.00 and a beta of 0.97. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09. Viavi Solutions Inc. has a fifty-two week low of $7.10 and a fifty-two week high of $11.65.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. The firm had revenue of $246.00 million for the quarter, compared to analysts’ expectations of $249.08 million. During the same period in the previous year, the company earned $0.02 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. Research analysts predict that Viavi Solutions Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Viavi Solutions

In other news, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the sale, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now directly owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the transaction, the executive vice president now directly owns 57,940 shares in the company, valued at $615,322.80. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

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.