Viavi Solutions (NASDAQ:VIAV) Stock Price Up 6.9% – Here’s Why

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) traded up 6.9% on Friday. The company traded as high as $40.85 and last traded at $39.8170. Approximately 913,306 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 6,010,965 shares. The stock had previously closed at $37.23.

Analysts Set New Price Targets

VIAV has been the topic of several recent analyst reports. Weiss Ratings lowered Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. Stifel Nicolaus set a $65.00 price objective on Viavi Solutions in a report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 target price on shares of Viavi Solutions in a research note on Wednesday. UBS Group lowered their target price on shares of Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Finally, Wall Street Zen lowered shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.43.

Viavi Solutions Stock Up 7.3%

The firm has a market cap of $9.85 billion, a P/E ratio of -265.29 and a beta of 1.22. The firm’s fifty day moving average is $37.95 and its 200 day moving average is $41.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.85.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The firm had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $432.62 million. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The business’s revenue was up 52.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, equities research analysts anticipate that Viavi Solutions Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, EVP Ilan Daskal sold 56,290 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $36.29, for a total value of $2,042,764.10. Following the transaction, the executive vice president directly owned 10,132 shares of the company’s stock, valued at $367,690.28. This represents a 84.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Luke Scrivanich sold 35,866 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $36.24, for a total transaction of $1,299,783.84. Following the completion of the sale, the senior vice president directly owned 39,598 shares of the company’s stock, valued at approximately $1,435,031.52. The trade was a 47.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 199,694 shares of company stock valued at $7,976,233. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Viavi Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Viavi Solutions in the second quarter worth $1,228,529,000. Bank of America Corp DE bought a new stake in Viavi Solutions during the second quarter worth about $134,922,000. Allspring Global Investments Holdings LLC bought a new stake in Viavi Solutions during the first quarter worth about $75,294,000. Bowen Hanes & Co. Inc. bought a new stake in Viavi Solutions during the fourth quarter worth about $33,323,000. Finally, Bank of New York Mellon Corp acquired a new stake in Viavi Solutions during the second quarter worth about $87,914,000. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions Inc (NASDAQ: VIAV) develops test, measurement, and assurance technologies for communications networks and optical systems. Its products and software help telecommunications providers, network equipment manufacturers, data centers, government organizations, and other enterprises build, validate, monitor, and maintain wired and wireless networks.

The company’s offerings include instruments and software for fiber-optic testing, network installation and certification, service activation, network performance monitoring, troubleshooting, and telecommunications equipment testing.