Viavi Solutions Inc. (NASDAQ:VIAV) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 125.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 222,779 shares of the communications equipment provider’s stock after acquiring an additional 124,057 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Viavi Solutions were worth $2,009,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Viavi Solutions during the 3rd quarter worth $25,000. Innealta Capital LLC acquired a new stake in shares of Viavi Solutions during the second quarter worth about $38,000. Quarry LP lifted its holdings in shares of Viavi Solutions by 419.7% in the 2nd quarter. Quarry LP now owns 7,229 shares of the communications equipment provider’s stock valued at $50,000 after purchasing an additional 5,838 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Viavi Solutions in the 2nd quarter valued at about $52,000. Finally, KBC Group NV increased its position in Viavi Solutions by 53.0% during the third quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after buying an additional 3,252 shares during the period. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $10.18 on Tuesday. The company has a current ratio of 3.71, a quick ratio of 3.31 and a debt-to-equity ratio of 0.91. The stock has a 50 day simple moving average of $9.34 and a 200-day simple moving average of $8.24. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -59.88 and a beta of 0.90. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $11.32.

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, hitting the consensus estimate of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a positive return on equity of 2.22% and a negative net margin of 3.78%. Viavi Solutions’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. On average, equities analysts forecast that Viavi Solutions Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VIAV shares. Rosenblatt Securities increased their price objective on Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a report on Friday, November 1st. Northland Securities lifted their price objective on shares of Viavi Solutions from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Viavi Solutions in a research note on Friday, November 1st. UBS Group assumed coverage on Viavi Solutions in a research report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.44.

Insider Activity at Viavi Solutions

In other news, SVP Kevin Christopher Siebert sold 8,432 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 56,617 shares in the company, valued at $488,604.71. This trade represents a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now owns 57,319 shares in the company, valued at $507,846.34. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,381 shares of company stock worth $562,279 over the last 90 days. Company insiders own 1.52% 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.