50,188 Shares in Viavi Solutions Inc. $VIAV Purchased by PVG Asset Management Corp

PVG Asset Management Corp bought a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) during the first quarter, Holdings Channel reports. The fund bought 50,188 shares of the communications equipment provider’s stock, valued at approximately $1,670,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Viavi Solutions by 11.5% during the 1st quarter. Royal Bank of Canada now owns 183,320 shares of the communications equipment provider’s stock valued at $2,051,000 after buying an additional 18,910 shares during the period. AQR Capital Management LLC grew its position in Viavi Solutions by 110.5% in the first quarter. AQR Capital Management LLC now owns 33,663 shares of the communications equipment provider’s stock worth $377,000 after acquiring an additional 17,673 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Viavi Solutions by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,061 shares of the communications equipment provider’s stock worth $1,467,000 after acquiring an additional 5,775 shares during the last quarter. Millennium Management LLC increased its stake in Viavi Solutions by 205.4% during the first quarter. Millennium Management LLC now owns 476,767 shares of the communications equipment provider’s stock worth $5,335,000 after acquiring an additional 320,662 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in Viavi Solutions in the first quarter valued at $165,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Viavi Solutions Stock Performance

Shares of Viavi Solutions stock opened at $36.95 on Monday. The business has a 50-day moving average of $45.33 and a 200 day moving average of $38.37. Viavi Solutions Inc. has a 12 month low of $9.61 and a 12 month high of $60.43. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -153.95 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.39.

Insider Buying and Selling at Viavi Solutions

In other news, SVP Luke M. Scrivanich sold 10,693 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $53.00, for a total transaction of $566,729.00. Following the sale, the senior vice president owned 39,287 shares of the company’s stock, valued at approximately $2,082,211. This represents a 21.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doug Gilstrap sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the transaction, the director directly owned 55,766 shares of the company’s stock, valued at approximately $3,067,130. The trade was a 15.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 442,114 shares of company stock valued at $23,343,184 over the last three months. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group increased their price target on Viavi Solutions from $25.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Weiss Ratings lowered shares of Viavi Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 16th. B. Riley Financial boosted their price target on shares of Viavi Solutions from $26.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Susquehanna upped their price objective on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 target price on shares of Viavi Solutions in a report on Wednesday, June 10th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.88.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.