State of New Jersey Common Pension Fund D Acquires 70,907 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

State of New Jersey Common Pension Fund D boosted its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 29.1% in the fourth quarter, HoldingsChannel reports. The firm owned 314,385 shares of the communications equipment provider’s stock after purchasing an additional 70,907 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Viavi Solutions were worth $3,166,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in Viavi Solutions in the third quarter worth approximately $101,000. Coldstream Capital Management Inc. increased its holdings in Viavi Solutions by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 11,922 shares of the communications equipment provider’s stock worth $109,000 after purchasing an additional 1,411 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Viavi Solutions by 17.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 15,570 shares of the communications equipment provider’s stock worth $157,000 after purchasing an additional 2,368 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Viavi Solutions during the fourth quarter valued at approximately $169,000. Finally, SG Americas Securities LLC bought a new stake in shares of Viavi Solutions during the fourth quarter valued at approximately $169,000. 95.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on VIAV. Rosenblatt Securities decreased their price objective on Viavi Solutions from $15.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Monday, April 1st. 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. Morgan Stanley upped their price target on Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Finally, Northland Securities upped their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Viavi Solutions Stock Up 0.5 %

Shares of NASDAQ VIAV opened at $8.01 on Friday. Viavi Solutions Inc. has a one year low of $7.26 and a one year high of $11.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The business’s fifty day moving average price is $9.28 and its 200-day moving average price is $9.04. The stock has a market capitalization of $1.78 billion, a PE ratio of 400.50 and a beta of 0.95.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, February 1st. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $254.50 million for the quarter, compared to analysts’ expectations of $249.77 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. On average, equities research analysts anticipate that Viavi Solutions Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total transaction of $149,446.90. Following the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.70, for a total transaction of $149,446.90. Following the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at approximately $503,937.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the sale, the executive vice president now directly owns 57,940 shares in the company, valued at approximately $615,322.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,093 shares of company stock valued at $319,841. Corporate insiders own 1.80% of the company’s stock.

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.