Bowen Hanes & Co. Inc. Buys Shares of 1,870,000 Viavi Solutions Inc. $VIAV

Key Points

• Bowen Hanes & Co. Inc. disclosed a new fourth-quarter stake in Viavi Solutions, buying 1.87 million shares valued at about $33.3 million and representing roughly 0.81% of the company.
• Viavi Solutions reported better-than-expected quarterly results, with EPS of $0.27 versus the $0.24 consensus and revenue of $406.8 million, up 42.8% from a year earlier.
• Despite the earnings beat, the stock was down 0.9% in trading, while analysts remain generally positive with a Moderate Buy rating and a consensus price target of $39.25.

Bowen Hanes & Co. Inc. bought a new stake in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,870,000 shares of the communications equipment provider's stock, valued at approximately $33,323,000. Bowen Hanes & Co. Inc. owned about 0.81% of Viavi Solutions as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VIAV. Phocas Financial Corp. acquired a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $3,772,000. Jefferies Financial Group Inc. acquired a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $1,803,000. Fisher Asset Management LLC grew its holdings in shares of Viavi Solutions by 14.2% during the 3rd quarter. Fisher Asset Management LLC now owns 469,354 shares of the communications equipment provider's stock worth $5,956,000 after purchasing an additional 58,364 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Viavi Solutions by 22.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 400,886 shares of the communications equipment provider's stock worth $5,087,000 after purchasing an additional 72,930 shares in the last quarter. Finally, Tensor Edge Capital LLC acquired a new stake in shares of Viavi Solutions during the 4th quarter worth approximately $2,673,000. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Trading Down 0.9%

Shares of VIAV opened at $52.42 on Thursday. The stock has a fifty day moving average price of $45.29 and a two-hundred day moving average price of $30.52. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.39 and a current ratio of 1.61. Viavi Solutions Inc. has a 52-week low of $9.08 and a 52-week high of $60.43. The company has a market cap of $12.26 billion, a price-to-earnings ratio of -218.41 and a beta of 1.18.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.The firm had revenue of $406.80 million during the quarter, compared to the consensus estimate of $393.80 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business's revenue for the quarter was up 42.8% compared to the same quarter last year. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. Analysts predict that Viavi Solutions Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Viavi Solutions

In other Viavi Solutions news, SVP Kevin Christopher Siebert sold 8,255 shares of Viavi Solutions stock in a transaction on Monday, May 4th. The stock was sold at an average price of $54.02, for a total value of $445,935.10. Following the completion of the transaction, the senior vice president owned 20,129 shares in the company, valued at approximately $1,087,368.58. The trade was a 29.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Doug Gilstrap sold 10,000 shares of Viavi Solutions stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the transaction, the director owned 55,766 shares of the company's stock, valued at approximately $3,067,130. The trade was a 15.21% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 450,369 shares of company stock worth $23,789,119. 1.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on VIAV. Rosenblatt Securities lifted their price objective on Viavi Solutions from $27.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, March 18th. Wall Street Zen raised Viavi Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Weiss Ratings raised Viavi Solutions from a "sell (d-)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Needham & Company LLC lifted their price objective on Viavi Solutions from $28.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Finally, B. Riley Financial lifted their price objective on Viavi Solutions from $26.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Viavi Solutions currently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

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.

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