Adage Capital Partners GP L.L.C. Sells 780,612 Shares of Viavi Solutions Inc. (NASDAQ:VIAV)

Adage Capital Partners GP L.L.C. cut its holdings in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 34.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,455,590 shares of the communications equipment provider’s stock after selling 780,612 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.66% of Viavi Solutions worth $14,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VIAV. T. Rowe Price Investment Management Inc. grew its position in Viavi Solutions by 1.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,524,395 shares of the communications equipment provider’s stock worth $106,297,000 after buying an additional 171,746 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Viavi Solutions in the fourth quarter worth $162,000. Stifel Financial Corp increased its position in shares of Viavi Solutions by 4.1% in the fourth quarter. Stifel Financial Corp now owns 99,368 shares of the communications equipment provider’s stock worth $1,004,000 after purchasing an additional 3,902 shares during the period. TD Waterhouse Canada Inc. raised its stake in Viavi Solutions by 64.6% in the fourth quarter. TD Waterhouse Canada Inc. now owns 9,389 shares of the communications equipment provider’s stock valued at $95,000 after purchasing an additional 3,684 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Viavi Solutions by 260.8% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 266,641 shares of the communications equipment provider’s stock worth $2,693,000 after purchasing an additional 192,741 shares during the period. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP James L. Veler, Jr. sold 13,807 shares of Viavi Solutions stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul Mcnab sold 9,034 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $11.09, for a total value of $100,187.06. Following the completion of the sale, the executive vice president now owns 38,775 shares of the company’s stock, valued at $430,014.75. The trade was a 18.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,164 shares of company stock worth $411,122 in the last ninety days. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Argus boosted their target price on shares of Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. StockNews.com cut Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th. Northland Securities reiterated an “outperform” rating and issued a $14.00 price target (up previously from $13.00) on shares of Viavi Solutions in a research note on Friday, January 31st. B. Riley upped their price objective on Viavi Solutions from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC upgraded Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.28.

Viavi Solutions Stock Performance

Shares of VIAV stock opened at $10.51 on Friday. The business’s 50-day moving average price is $10.77 and its 200-day moving average price is $10.49. Viavi Solutions Inc. has a 12 month low of $6.60 and a 12 month high of $12.91. The company has a current ratio of 3.55, a quick ratio of 3.18 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -58.39 and a beta of 0.89.

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.