In the first quarter of this year, the Public Sector Pension Investment Board announced that it had reduced its stake in Viavi Solutions Inc. by 4.0%. This information was revealed through a filing with the Securities and Exchange Commission. The institutional investor now owns 395,332 shares of Viavi Solutions’ stock after selling 16,478 shares during the quarter.
At the end of the most recent quarter, Public Sector Pension Investment Board’s ownership represented approximately 0.18% of Viavi Solutions, with a total value of $4,281,000.
Viavi Solutions recently released its quarterly earnings data on August 10th. The communications equipment provider reported earnings per share (EPS) of $0.05 for the quarter, surpassing analysts’ consensus estimates which had predicted $0.04 EPS by $0.01.
Additionally, Viavi Solutions generated revenue amounting to $263.60 million during the quarter, compared to the consensus estimate of $252.43 million.
With a net margin of 2.31% and a return on equity of 10.92%, Viavi Solutions continues to showcase its strong performance in the industry.
The actions taken by Public Sector Pension Investment Board to reduce its stake in Viavi Solutions suggest potential shifts in investment strategies within the public sector pension fund sector.
Investors and market analysts will likely closely monitor these developments as they may provide insight into current trends in investment decisions and market sentiment towards Viavi Solutions Inc.
As always, it is important for investors to conduct their own research and analysis before making any investment decisions based on information provided here or elsewhere.
Recent Stake Changes and Analyst Insights Spark Intrigue in Viavi Solutions’ Future Performance
Viavi Solutions, a leading communications equipment provider, has seen changes in its stakes by several institutional investors. WINTON GROUP Ltd, for instance, has increased its stake by 2.7% in the first quarter, resulting in ownership of 267,618 shares worth $2.9 million. Similarly, Wellington Management Group LLP has raised its stake by 12.8%, bringing their ownership to 15,415,653 shares valued at $166.95 million.
First Republic Investment Management Inc., Charles Schwab Investment Management Inc., and Cambridge Investment Research Advisors Inc. have also increased their stakes in Viavi Solutions during the first quarter of this year. These institutional investors now own significant shares of the company’s stock.
This influx of institutional investment sparks intrigue among market observers who will curiously wait to see how these changes may impact Viavi Solutions’ future performance and strategic direction.
Equally intriguing is the perspective provided by analysts on Viavi Solutions’ prospects. StockNews.com downgraded the company from a “buy” rating to a “hold” rating on August 24th. However, Rosenblatt Securities maintains a positive outlook with a “buy” rating and a price target of $14 per share.
The consensus rating on Viavi Solutions is currently classified as “Hold,” according to Bloomberg.com’s analysis of various investment recommendations. Analysts also predict a consensus price target for the stock at around $12.29.
In recent news involving Viavi Solutions, one of its senior vice presidents, Gary W. Staley, sold 6,804 shares at an average price of $10.50 per share on August 30th for a total transaction value of $71,442. This brings his current ownership down to 93,898 shares worth approximately $985,929.
It is worth noting that insiders currently own about 1.57% of Viavi Solutions’ stock.
As for the company’s stock performance, Viavi Solutions opened at $10.15 on September 6th. The company’s financials reveal a current ratio of 2.75 and a quick ratio of 2.41, indicating its ability to meet short-term obligations efficiently. With a market capitalization of $2.25 billion and a price-to-earnings ratio of 92.28, Viavi Solutions continues to be an important player in the industry.
As the market continues to monitor developments surrounding these recent stake changes and insights from analysts, investors may contemplate whether Viavi Solutions’ stock presents an attractive investment opportunity given its recent highs and lows in the past year.