John G Ullman & Associates Inc. Sells 6,900 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

John G Ullman & Associates Inc. lessened its stake in Viavi Solutions Inc. (NASDAQ:VIAV) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,450 shares of the communications equipment provider’s stock after selling 6,900 shares during the quarter. John G Ullman & Associates Inc.’s holdings in Viavi Solutions were worth $987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Viavi Solutions in the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in Viavi Solutions in the 2nd quarter worth approximately $38,000. Quarry LP raised its holdings in Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock worth $50,000 after acquiring an additional 5,838 shares during the last quarter. Summit Securities Group LLC bought a new position in Viavi Solutions in the 2nd quarter valued at approximately $52,000. Finally, Sanctuary Advisors LLC purchased a new stake in Viavi Solutions during the 2nd quarter valued at $76,000. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Up 0.7 %

Viavi Solutions stock opened at $9.82 on Thursday. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $11.32. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -57.76 and a beta of 0.90. The firm has a 50 day moving average of $9.27 and a 200 day moving average of $8.20.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Thursday, October 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The firm had revenue of $238.20 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts predict that Viavi Solutions Inc. will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Northland Securities boosted their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stifel Nicolaus lowered their target price on shares of Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. B. Riley reduced their price target on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, August 9th. Rosenblatt Securities increased their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, UBS Group initiated coverage on shares of Viavi Solutions in a research note on Tuesday. They set a “neutral” rating and a $10.60 target price for the company. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.44.

Insider Activity

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $8.20, for a total transaction of $123,000.00. Following the completion of the transaction, the director now owns 228,514 shares in the company, valued at $1,873,814.80. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Christopher Siebert sold 8,432 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $8.63, for a total value of $72,768.16. Following the completion of the sale, the senior vice president now owns 56,617 shares in the company, valued at approximately $488,604.71. The trade was a 12.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,381 shares of company stock valued at $562,279 in the last ninety days. Insiders own 1.52% of the company’s stock.

Viavi Solutions Company 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.