Leeward Investments LLC MA Cuts Holdings in Viavi Solutions Inc. (NASDAQ:VIAV)

Leeward Investments LLC MA cut its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,621,476 shares of the communications equipment provider’s stock after selling 13,829 shares during the quarter. Leeward Investments LLC MA’s holdings in Viavi Solutions were worth $14,739,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its position in Viavi Solutions by 85.9% during the third quarter. Envestnet Asset Management Inc. now owns 713,641 shares of the communications equipment provider’s stock valued at $6,523,000 after acquiring an additional 329,654 shares during the last quarter. Teza Capital Management LLC purchased a new stake in shares of Viavi Solutions during the 3rd quarter valued at $460,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Viavi Solutions by 1.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,126,549 shares of the communications equipment provider’s stock worth $28,577,000 after purchasing an additional 40,000 shares in the last quarter. Earnest Partners LLC grew its stake in Viavi Solutions by 4.4% during the 3rd quarter. Earnest Partners LLC now owns 1,026,517 shares of the communications equipment provider’s stock worth $9,382,000 after buying an additional 43,176 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Viavi Solutions during the 3rd quarter valued at about $673,000. 95.54% of the stock is owned by institutional investors.

Viavi Solutions Stock Performance

Shares of VIAV stock traded up $0.09 on Thursday, hitting $7.07. The company had a trading volume of 613,006 shares, compared to its average volume of 1,923,393. Viavi Solutions Inc. has a twelve month low of $6.60 and a twelve month high of $11.65. The company has a quick ratio of 3.35, a current ratio of 3.81 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.58 billion, a P/E ratio of -353.50 and a beta of 0.91. The company has a 50-day moving average price of $7.45 and a 200-day moving average price of $8.81.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Viavi Solutions had a negative net margin of 0.42% and a positive return on equity of 4.65%. The company had revenue of $246.00 million during the quarter, compared to analyst estimates of $249.08 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Viavi Solutions Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on VIAV shares. Argus raised Viavi Solutions to a “strong-buy” rating in a report on Thursday, May 9th. Morgan Stanley upped their price target on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Northland Securities lifted their price objective on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.65.

Insiders Place Their Bets

In other Viavi Solutions news, EVP Paul Mcnab sold 6,822 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $7.33, for a total transaction of $50,005.26. Following the transaction, the executive vice president now owns 42,955 shares in the company, valued at $314,860.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 14,985 shares of company stock worth $109,969. Company insiders own 1.80% of the company’s stock.

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.