Kovack Advisors Inc. Grows Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Kovack Advisors Inc. lifted its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 33.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,200 shares of the communications equipment provider’s stock after buying an additional 51,800 shares during the quarter. Kovack Advisors Inc. owned approximately 0.09% of Viavi Solutions worth $1,860,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its stake in shares of Viavi Solutions by 305.4% during the 1st quarter. Capital World Investors now owns 12,161,535 shares of the communications equipment provider’s stock worth $110,548,000 after purchasing an additional 9,161,535 shares during the last quarter. Capital Research Global Investors acquired a new stake in Viavi Solutions in the first quarter valued at approximately $29,526,000. Bank of New York Mellon Corp grew its holdings in Viavi Solutions by 65.2% in the second quarter. Bank of New York Mellon Corp now owns 3,290,197 shares of the communications equipment provider’s stock worth $22,604,000 after purchasing an additional 1,298,394 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Viavi Solutions by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock worth $39,972,000 after purchasing an additional 661,450 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of Viavi Solutions by 9.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 7,203,703 shares of the communications equipment provider’s stock valued at $49,489,000 after purchasing an additional 606,522 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Insider Activity

In other news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at $1,957,923.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the transaction, the director now owns 213,514 shares in the company, valued at $1,957,923.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of Viavi Solutions stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total value of $26,836.94. Following the completion of the sale, the senior vice president now owns 57,319 shares in the company, valued at approximately $507,846.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,652 shares of company stock worth $665,485 in the last ninety days. Company insiders own 1.52% of the company’s stock.

Viavi Solutions Price Performance

VIAV stock traded up $0.08 during trading on Wednesday, hitting $10.39. 138,166 shares of the company traded hands, compared to its average volume of 1,910,992. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a 1 year low of $6.60 and a 1 year high of $11.32. The stock’s 50-day simple moving average is $9.06 and its 200 day simple moving average is $8.12.

Viavi Solutions (NASDAQ:VIAV) last posted its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. On average, sell-side analysts anticipate that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on VIAV shares. Northland Securities upped their target price on Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Rosenblatt Securities boosted their target price on shares of Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a report on Friday, November 1st. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, B. Riley cut their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

About Viavi Solutions

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.