Avantax Advisory Services Inc. Buys 4,312 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Avantax Advisory Services Inc. lifted its stake in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 146,636 shares of the communications equipment provider’s stock after acquiring an additional 4,312 shares during the period. Avantax Advisory Services Inc. owned approximately 0.07% of Viavi Solutions worth $1,481,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Sanctuary Advisors LLC lifted its holdings in shares of Viavi Solutions by 8.1% during the 4th quarter. Sanctuary Advisors LLC now owns 17,226 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 1,288 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Viavi Solutions by 15.4% during the 4th quarter. Park Avenue Securities LLC now owns 13,442 shares of the communications equipment provider’s stock worth $136,000 after acquiring an additional 1,792 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Viavi Solutions by 5.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 43,732 shares of the communications equipment provider’s stock worth $442,000 after acquiring an additional 2,277 shares during the last quarter. KBC Group NV lifted its holdings in shares of Viavi Solutions by 53.0% during the 3rd quarter. KBC Group NV now owns 9,388 shares of the communications equipment provider’s stock worth $85,000 after acquiring an additional 3,252 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Viavi Solutions by 7.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 58,761 shares of the communications equipment provider’s stock worth $530,000 after acquiring an additional 4,043 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

Insider Activity at Viavi Solutions

In related news, SVP James L. Veler, Jr. sold 13,807 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $10.86, for a total transaction of $149,944.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $10.01, for a total transaction of $300,300.00. Following the transaction, the director now owns 180,333 shares in the company, valued at $1,805,133.33. This represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,164 shares of company stock worth $711,422 over the last 90 days. 1.52% of the stock is owned by company insiders.

Viavi Solutions Price Performance

VIAV stock opened at $11.13 on Wednesday. The firm’s 50-day moving average price is $11.12 and its two-hundred day moving average price is $10.11. Viavi Solutions Inc. has a 12-month low of $6.60 and a 12-month high of $12.91. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -61.83 and a beta of 0.94. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on VIAV. Rosenblatt Securities raised shares of Viavi Solutions from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Friday, March 7th. Needham & Company LLC raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, January 31st. Stifel Nicolaus reissued a “buy” rating and issued a $13.00 price target (up from $12.00) on shares of Viavi Solutions in a research note on Friday, January 31st. B. Riley boosted their price target on shares of Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group boosted their price target on shares of Viavi Solutions from $10.60 to $11.50 and gave the stock a “neutral” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.72.

Viavi Solutions Company Profile

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.