Viavi Solutions (NASDAQ:VIAV) Stock Price Down 4.6% – Here’s What Happened

Viavi Solutions Inc. (NASDAQ:VIAV) fell 4.6% during trading on Thursday . The stock traded as low as $33.25 and last traded at $32.8960. Approximately 273,926 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 6,058,163 shares. The stock had previously closed at $34.50.

Analysts Set New Price Targets

Several equities research analysts have weighed in on VIAV shares. Stifel Nicolaus increased their price target on shares of Viavi Solutions from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen cut shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Susquehanna upped their price objective on shares of Viavi Solutions from $65.00 to $66.00 and gave the company a “positive” rating in a research note on Wednesday, July 1st. B. Riley Financial cut their target price on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.43.

Viavi Solutions Stock Up 3.7%

The company’s fifty day moving average price is $39.69 and its 200-day moving average price is $41.09. The stock has a market capitalization of $8.60 billion, a PE ratio of -232.38 and a beta of 1.22. The company has a quick ratio of 1.62, a current ratio of 1.85 and a debt-to-equity ratio of 0.27.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The firm had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $432.62 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Analysts forecast that Viavi Solutions Inc. will post 1.32 earnings per share for the current year.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 23,911 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $36.37, for a total value of $869,643.07. Following the completion of the transaction, the senior vice president owned 39,598 shares of the company’s stock, valued at approximately $1,440,179.26. The trade was a 37.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura A. Black sold 71,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $46.12, for a total transaction of $3,274,520.00. Following the transaction, the director directly owned 71,497 shares of the company’s stock, valued at $3,297,441.64. The trade was a 49.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 152,796 shares of company stock valued at $6,246,532. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viavi Solutions

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Viavi Solutions in the 2nd quarter worth $1,228,529,000. Capital World Investors lifted its holdings in Viavi Solutions by 4.4% in the fourth quarter. Capital World Investors now owns 15,620,410 shares of the communications equipment provider’s stock valued at $278,356,000 after acquiring an additional 664,956 shares during the period. California State Teachers Retirement System boosted its position in Viavi Solutions by 4,790.6% in the second quarter. California State Teachers Retirement System now owns 12,773,316 shares of the communications equipment provider’s stock worth $609,926,000 after purchasing an additional 12,512,136 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Viavi Solutions by 3.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,846,226 shares of the communications equipment provider’s stock valued at $86,875,000 after purchasing an additional 231,570 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Viavi Solutions by 0.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,673,145 shares of the communications equipment provider’s stock valued at $118,915,000 after purchasing an additional 33,463 shares during the last quarter. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.