Tributary Capital Management LLC Has $10.07 Million Stock Position in Viavi Solutions Inc. (NASDAQ:VIAV)

Tributary Capital Management LLC trimmed its position in Viavi Solutions Inc. (NASDAQ:VIAV) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,116,122 shares of the communications equipment provider’s stock after selling 165,792 shares during the quarter. Tributary Capital Management LLC’s holdings in Viavi Solutions were worth $10,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Viavi Solutions during the second quarter worth about $38,000. Headlands Technologies LLC bought a new position in shares of Viavi Solutions during the 1st quarter valued at about $55,000. Quarry LP lifted its holdings in shares of Viavi Solutions by 419.7% during 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 in the last quarter. Summit Securities Group LLC bought a new position in shares of Viavi Solutions during the 2nd quarter valued at about $52,000. Finally, Park Avenue Securities LLC bought a new position in shares of Viavi Solutions during the 1st quarter valued at about $99,000. 95.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $9.17, for a total transaction of $137,550.00. Following the completion of the sale, the director now directly owns 213,514 shares in the company, valued at $1,957,923.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 8,432 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $488,604.71. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Masood Jabbar sold 15,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $9.17, for a total value of $137,550.00. Following the completion of the transaction, the director now directly owns 213,514 shares of the company’s stock, valued at approximately $1,957,923.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 85,976 shares of company stock worth $720,562. 1.52% of the stock is currently owned by company insiders.

Viavi Solutions Price Performance

NASDAQ:VIAV opened at $9.14 on Monday. The stock has a fifty day moving average price of $8.68 and a 200-day moving average price of $7.97. The company has a current ratio of 3.55, a quick ratio of 3.16 and a debt-to-equity ratio of 0.93. Viavi Solutions Inc. has a fifty-two week low of $6.60 and a fifty-two week high of $11.32.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, August 8th. The communications equipment provider reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $251.83 million. Viavi Solutions had a positive return on equity of 3.81% and a negative net margin of 2.58%. As a group, research analysts forecast that Viavi Solutions Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VIAV. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 10th. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research note on Friday, August 9th. Stifel Nicolaus cut their target price on Viavi Solutions from $13.00 to $10.50 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, B. Riley cut their target price on Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Five equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.

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.