Viavi Solutions (NASDAQ:VIAV) Hits New 12-Month Low After Earnings Miss

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report)'s share price reached a new 52-week low on Friday following a weaker than expected earnings announcement. The company traded as low as $7.10 and last traded at $7.46, with a volume of 624856 shares trading hands. The stock had previously closed at $8.02.

The communications equipment provider reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. The firm had revenue of $246.00 million for the quarter, compared to analyst estimates of $249.08 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The firm's revenue for the quarter was down .7% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Northland Securities increased their price target on Viavi Solutions from $12.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, March 6th. Susquehanna downgraded shares of Viavi Solutions from a "positive" rating to a "neutral" rating and set a $9.00 target price for the company. in a report on Friday. StockNews.com raised shares of Viavi Solutions from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Rosenblatt Securities decreased their target price on Viavi Solutions from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Stifel Nicolaus restated a "buy" rating and issued a $13.00 price target on shares of Viavi Solutions in a research note on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Viavi Solutions presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Insider Transactions at Viavi Solutions

In related news, EVP Paul Mcnab sold 15,004 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the completion of the transaction, the executive vice president now owns 57,940 shares of the company's stock, valued at $615,322.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following the transaction, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul Mcnab sold 15,004 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $10.62, for a total value of $159,342.48. Following the sale, the executive vice president now owns 57,940 shares of the company's stock, valued at $615,322.80. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VIAV. Vanguard Group Inc. boosted its holdings in shares of Viavi Solutions by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 28,739,930 shares of the communications equipment provider's stock valued at $289,411,000 after acquiring an additional 451,354 shares in the last quarter. Wellington Management Group LLP raised its holdings in Viavi Solutions by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 16,563,670 shares of the communications equipment provider's stock valued at $166,796,000 after buying an additional 638,309 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in Viavi Solutions by 20.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 6,573,335 shares of the communications equipment provider's stock worth $66,193,000 after buying an additional 1,103,687 shares during the period. Schroder Investment Management Group grew its position in shares of Viavi Solutions by 15.6% in the 4th quarter. Schroder Investment Management Group now owns 5,321,940 shares of the communications equipment provider's stock valued at $53,592,000 after buying an additional 718,004 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Viavi Solutions by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,026,592 shares of the communications equipment provider's stock valued at $50,618,000 after buying an additional 202,387 shares during the period. Institutional investors and hedge funds own 95.54% of the company's stock.

Viavi Solutions Stock Down 5.7 %

The company has a market capitalization of $1.68 billion, a P/E ratio of 378.00 and a beta of 0.97. The stock has a 50-day moving average price of $9.11 and a 200-day moving average price of $9.03. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.