Luke Scrivanich Sells 23,911 Shares of Viavi Solutions (NASDAQ:VIAV) Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke Scrivanich sold 23,911 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $36.37, for a total transaction of $869,643.07. Following the transaction, the senior vice president owned 39,598 shares of the company’s stock, valued at $1,440,179.26. This trade represents a 37.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Viavi Solutions Trading Down 4.1%

Viavi Solutions stock opened at $34.81 on Wednesday. The stock has a market cap of $8.59 billion, a P/E ratio of -232.05 and a beta of 1.22. Viavi Solutions Inc. has a fifty-two week low of $11.16 and a fifty-two week high of $60.43. The firm’s fifty day moving average price is $40.58 and its 200-day moving average price is $41.02. 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 issued its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $443.10 million for the quarter, compared to the consensus estimate of $432.62 million. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The firm’s revenue was up 52.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Equities research analysts forecast that Viavi Solutions Inc. will post 1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on VIAV. Wall Street Zen cut Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group decreased their price objective on shares of Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, August 6th. Susquehanna raised their target price 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 dropped their target price on shares of Viavi Solutions from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Finally, Stifel Nicolaus boosted their price target on shares of Viavi Solutions from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Viavi Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.43.

Institutional Investors Weigh In On Viavi Solutions

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Viavi Solutions during the second quarter worth about $1,228,529,000. California State Teachers Retirement System increased its position in shares of Viavi Solutions by 4,790.6% during the 2nd quarter. California State Teachers Retirement System now owns 12,773,316 shares of the communications equipment provider’s stock valued at $609,926,000 after purchasing an additional 12,512,136 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Viavi Solutions by 431.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 6,639,682 shares of the communications equipment provider’s stock valued at $84,258,000 after purchasing an additional 5,389,435 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Viavi Solutions during the 2nd quarter valued at about $134,922,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Viavi Solutions during the 1st quarter valued at about $75,294,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Viavi Solutions Company Profile

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.