State of New Jersey Common Pension Fund D Reduces Stock Holdings in Viavi Solutions Inc. $VIAV

Key Points

• State of New Jersey Common Pension Fund D trimmed its stake in Viavi by 34% in Q4, selling 67,136 shares and leaving it with 130,088 shares valued at about $2.32 million (roughly 0.06% of the company).
• Significant insider selling has occurred recently — including ~104,552 shares disclosed by CEO Oleg Khaykin — with insiders offloading 353,096 shares (~$14.8M) in the past three months, a move analysts say has amplified downward pressure on the stock.
• Despite the selling, Viavi posted a Q1 beat with revenue up 42.8% YoY and has drawn analyst upgrades and interest on AI/data‑center momentum (new test platform), leaving a consensus rating of "Moderate Buy" and an average price target near $39.25.

State of New Jersey Common Pension Fund D lowered its position in Viavi Solutions Inc. (NASDAQ:VIAV - Free Report) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 130,088 shares of the communications equipment provider's stock after selling 67,136 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Viavi Solutions worth $2,318,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Viavi Solutions in the third quarter valued at about $44,000. Covestor Ltd lifted its position in Viavi Solutions by 22.9% in the third quarter. Covestor Ltd now owns 3,631 shares of the communications equipment provider's stock valued at $46,000 after buying an additional 676 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Viavi Solutions by 32.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,707 shares of the communications equipment provider's stock valued at $47,000 after buying an additional 898 shares during the last quarter. GAMMA Investing LLC lifted its position in Viavi Solutions by 25.8% in the fourth quarter. GAMMA Investing LLC now owns 4,123 shares of the communications equipment provider's stock valued at $73,000 after buying an additional 845 shares during the last quarter. Finally, Swiss Life Asset Management Ltd acquired a new position in Viavi Solutions in the third quarter valued at about $133,000. Hedge funds and other institutional investors own 95.54% of the company's stock.

More Viavi Solutions News

Here are the key news stories impacting Viavi Solutions this week:

• Positive Sentiment: Analyst support: Several brokers raised targets and estimates after Q1 (Susquehanna, B. Riley, Needham, plus a raise to FY26 EPS from Northland), lifting professional earnings expectations and underpinning the fundamental outlook. Read More.
• Positive Sentiment: Momentum/sector story: A Zacks feature highlights Viavi as a momentum buy on strength from AI and data‑center demand — likely to attract momentum and thematic flows. Read More.
• Positive Sentiment: Product catalyst: Viavi announced a test platform aimed at adding security for inference and AI data centers, reinforcing relevance to hyperscalers and the AI buildout. This is a tangible product-level growth story for the Optical/Network segments. Read More.
• Neutral Sentiment: Background/earnings recap: Coverage from The Globe & Mail and MSN summarizes Q1 takeaways and analyst Q&A — useful context but not fresh catalysts by itself. Read More.
• Negative Sentiment: Clustered insider selling: Multiple senior insiders sold material blocks in early May — CEO Oleg Khaykin disclosed very large sales (including ~104,552 shares at ~$54.61 plus additional blocks), and other officers/directors (SVP Luke Scrivanich, EVP Paul McNab, director Doug Gilstrap) also sold. The concentrated timing and size likely increased downward pressure on the stock. Read More.
• Negative Sentiment: Market narrative impact: News outlets and market commentaries flagged the insider activity as a focal point, amplifying investor concern that these sales signal management monetization despite favorable demand trends. Read More.
• Negative Sentiment: Profitability caution: Some analysts and commentary (e.g., Seeking Alpha) warn that AI/data‑center excitement may outpace sustainable profitability — a reminder that GAAP/margin dynamics and cyclicality matter for longer‑term valuation. Read More.

Viavi Solutions Stock Down 3.7%

Shares of VIAV opened at $51.05 on Friday. The stock has a market capitalization of $11.94 billion, a PE ratio of -212.70 and a beta of 1.22. Viavi Solutions Inc. has a 1 year low of $8.87 and a 1 year high of $60.43. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.39 and a current ratio of 1.61. The company's 50-day simple moving average is $37.76 and its 200-day simple moving average is $25.82.

Viavi Solutions (NASDAQ:VIAV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $406.80 million for the quarter, compared to analysts' expectations of $393.80 million. Viavi Solutions had a negative net margin of 4.03% and a positive return on equity of 16.80%. The business's quarterly revenue was up 42.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. Analysts forecast that Viavi Solutions Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other news, EVP Paul Mcnab sold 2,727 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $54.96, for a total transaction of $149,875.92. Following the sale, the executive vice president owned 15,471 shares of the company's stock, valued at approximately $850,286.16. This represents a 14.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Luke M. Scrivanich sold 10,693 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $53.00, for a total transaction of $566,729.00. Following the sale, the senior vice president directly owned 39,287 shares in the company, valued at $2,082,211. This represents a 21.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 353,096 shares of company stock valued at $14,812,336. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on VIAV. Wall Street Zen raised shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Stifel Nicolaus upped their target price on shares of Viavi Solutions from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Thursday, January 29th. UBS Group upped their target price on shares of Viavi Solutions from $25.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Viavi Solutions in a research report on Wednesday, April 29th. Finally, Susquehanna upped their target price on shares of Viavi Solutions from $25.00 to $65.00 and gave the company a "positive" rating in a research report on Thursday, April 30th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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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