Avantax Advisory Services Inc. Increases Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Avantax Advisory Services Inc. boosted its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 3.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 146,636 shares of the communications equipment provider’s stock after acquiring an additional 4,312 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Viavi Solutions were worth $1,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in Viavi Solutions in the fourth quarter worth about $75,000. Smartleaf Asset Management LLC grew its holdings in Viavi Solutions by 836.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock worth $84,000 after purchasing an additional 7,434 shares during the period. KBC Group NV grew its holdings in Viavi Solutions by 53.0% in the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after purchasing an additional 3,252 shares during the period. Retirement Solution LLC purchased a new stake in Viavi Solutions in the fourth quarter worth about $105,000. Finally, Park Avenue Securities LLC grew its holdings in Viavi Solutions by 15.4% in the fourth quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after purchasing an additional 1,792 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Down 0.2 %

Shares of Viavi Solutions stock opened at $11.13 on Wednesday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of -61.83 and a beta of 0.94. The company’s 50 day moving average is $11.12 and its 200 day moving average is $10.11. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $12.91. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94.

Insider Activity at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,323 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $11.24, for a total value of $160,990.52. Following the transaction, the senior vice president now directly owns 55,877 shares in the company, valued at approximately $628,057.48. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total transaction of $300,300.00. Following the completion of the transaction, the director now owns 180,333 shares in the company, valued at $1,805,133.33. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,164 shares of company stock worth $711,422 over the last quarter. Company insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on VIAV. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 target price (up previously from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. Rosenblatt Securities upgraded shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Friday, March 7th. Needham & Company LLC upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday, January 31st. StockNews.com downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, UBS Group upped their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Viavi Solutions Profile

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.