ZWJ Investment Counsel Inc. Sells 9,891 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

ZWJ Investment Counsel Inc. reduced its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 38.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,782 shares of the communications equipment provider’s stock after selling 9,891 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Viavi Solutions were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of Viavi Solutions by 12.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,818,337 shares of the communications equipment provider’s stock valued at $39,972,000 after buying an additional 661,450 shares during the period. Intech Investment Management LLC acquired a new position in shares of Viavi Solutions in the second quarter valued at approximately $202,000. Public Sector Pension Investment Board increased its stake in shares of Viavi Solutions by 7.7% in the second quarter. Public Sector Pension Investment Board now owns 491,202 shares of the communications equipment provider’s stock valued at $3,375,000 after buying an additional 35,005 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of Viavi Solutions in the second quarter valued at approximately $96,000. Finally, 272 Capital LP acquired a new stake in Viavi Solutions during the 2nd quarter valued at approximately $756,000. 95.54% of the stock is currently owned by institutional investors.

Insider Activity at Viavi Solutions

In related news, Director Masood Jabbar sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $10.14, for a total value of $152,100.00. Following the completion of the sale, the director now directly owns 225,333 shares of the company’s stock, valued at approximately $2,284,876.62. This represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Luke M. Scrivanich sold 2,802 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $10.43, for a total value of $29,224.86. Following the sale, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at approximately $568,612.31. This represents a 4.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,802 shares of company stock valued at $481,625. 1.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VIAV shares. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a research report on Monday, December 16th. Northland Securities increased their price target on Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Rosenblatt Securities increased their price target on Viavi Solutions from $8.25 to $10.50 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, UBS Group assumed coverage on Viavi Solutions in a report on Tuesday, November 19th. They set a “neutral” rating and a $10.60 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Viavi Solutions currently has an average rating of “Hold” and an average price target of $10.44.

Viavi Solutions Price Performance

Shares of VIAV opened at $10.41 on Wednesday. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $11.49. The business’s fifty day moving average is $10.22 and its 200 day moving average is $9.10. The company has a quick ratio of 3.31, a current ratio of 3.71 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.31 billion, a P/E ratio of -61.23 and a beta of 0.91.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $238.20 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. Sell-side analysts anticipate that Viavi Solutions Inc. will post 0.19 earnings per share for the current fiscal year.

About Viavi Solutions

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.