Legato Capital Management LLC Has $245,000 Stake in Viavi Solutions Inc. (NASDAQ:VIAV)

Legato Capital Management LLC reduced its holdings in Viavi Solutions Inc. (NASDAQ:VIAV) by 78.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 35,704 shares of the communications equipment provider’s stock after selling 132,248 shares during the quarter. Legato Capital Management LLC’s holdings in Viavi Solutions were worth $245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Viavi Solutions during the 2nd quarter valued at $52,000. Headlands Technologies LLC acquired a new position in Viavi Solutions in the first quarter valued at about $55,000. Park Avenue Securities LLC acquired a new position in Viavi Solutions in the first quarter valued at about $99,000. Versor Investments LP bought a new position in Viavi Solutions during the fourth quarter worth about $110,000. Finally, Quadrant Capital Group LLC grew its position in shares of Viavi Solutions by 49.0% during the 4th quarter. Quadrant Capital Group LLC now owns 12,019 shares of the communications equipment provider’s stock worth $121,000 after buying an additional 3,952 shares during the period. 95.54% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Masood Jabbar sold 30,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now directly owns 243,514 shares in the company, valued at $1,989,509.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Viavi Solutions news, EVP Paul Mcnab sold 7,324 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $7.52, for a total transaction of $55,076.48. Following the sale, the executive vice president now directly owns 35,631 shares of the company’s stock, valued at approximately $267,945.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Masood Jabbar sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.17, for a total value of $245,100.00. Following the completion of the transaction, the director now owns 243,514 shares of the company’s stock, valued at approximately $1,989,509.38. The disclosure for this sale can be found here. Insiders have sold a total of 45,417 shares of company stock worth $360,388 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Viavi Solutions Stock Down 0.5 %

NASDAQ VIAV traded down $0.04 on Tuesday, reaching $8.51. The company had a trading volume of 580,436 shares, compared to its average volume of 1,846,626. The company’s fifty day moving average is $7.54 and its 200-day moving average is $8.24. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -422.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.16 and a current ratio of 3.55. Viavi Solutions Inc. has a 1-year low of $6.60 and a 1-year high of $11.32.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VIAV. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research report on Friday, August 9th. Stifel Nicolaus reduced their price target on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Susquehanna cut shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Friday, May 3rd. B. Riley dropped their price objective on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Rosenblatt Securities cut Viavi Solutions from a “buy” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $8.25 in a research note on Wednesday, June 26th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Viavi Solutions presently has a consensus rating of “Hold” and an average target price of $10.71.

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.