Prudential Financial Inc. Sells 52,975 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Prudential Financial Inc. lessened its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 348,155 shares of the communications equipment provider’s stock after selling 52,975 shares during the period. Prudential Financial Inc.’s holdings in Viavi Solutions were worth $3,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Viavi Solutions by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,307,974 shares of the communications equipment provider’s stock valued at $47,887,000 after buying an additional 54,633 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Viavi Solutions by 14.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,475,819 shares of the communications equipment provider’s stock valued at $35,106,000 after acquiring an additional 435,265 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Viavi Solutions by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,334,893 shares of the communications equipment provider’s stock valued at $33,682,000 after purchasing an additional 139,934 shares in the last quarter. Tributary Capital Management LLC increased its position in Viavi Solutions by 14.5% in the fourth quarter. Tributary Capital Management LLC now owns 1,277,654 shares of the communications equipment provider’s stock worth $12,904,000 after purchasing an additional 161,532 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Viavi Solutions by 2.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,075,675 shares of the communications equipment provider’s stock valued at $10,864,000 after purchasing an additional 29,621 shares in the last quarter. 95.54% of the stock is owned by institutional investors.

Insider Transactions at Viavi Solutions

In other news, SVP James L. Veler, Jr. sold 13,807 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $10.86, for a total transaction of $149,944.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Masood Jabbar sold 30,000 shares of Viavi Solutions stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total value of $300,300.00. Following the completion of the sale, the director now owns 180,333 shares of the company’s stock, 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. Over the last three months, insiders have sold 67,164 shares of company stock valued at $711,422. 1.52% of the stock is currently owned by company insiders.

Viavi Solutions Trading Up 0.2 %

VIAV stock opened at $11.21 on Wednesday. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91. The firm’s 50-day moving average is $11.39 and its 200 day moving average is $10.34. The company has a market capitalization of $2.49 billion, a PE ratio of -62.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.55 and a quick ratio of 3.18.

Analyst Upgrades and Downgrades

VIAV has been the topic of a number of research reports. UBS Group boosted their target price on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a report on Friday, January 31st. Stifel Nicolaus reissued a “buy” rating and set a $13.00 price objective (up from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. B. Riley raised their price objective on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Northland Securities reissued an “outperform” rating and set a $14.00 target price (up previously from $13.00) on shares of Viavi Solutions in a research report on Friday, January 31st. Finally, Argus raised their price target on Viavi Solutions from $13.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Viavi Solutions Company 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.