Viavi Solutions (NASDAQ:VIAV) Trading Up 7.9% - What's Next?

Key Points

• Viavi Solutions shares jumped 7.9% on Friday, trading as high as $53.12 after closing at $50.24 the prior day. Trading volume was far below average, with about 439,600 shares changing hands.
• Analysts turned more bullish on VIAV, with several firms raising price targets sharply, including Susquehanna to $65 and Rosenblatt to $70. Overall, the stock now carries a “Moderate Buy” rating, though MarketBeat’s average price target is $42.75.
• The company recently beat earnings expectations, reporting $0.27 EPS versus $0.24 expected and revenue of $406.8 million, up 42.8% year over year. Viavi also benefited from strong analyst sentiment despite notable insider selling in recent weeks.

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report)'s share price was up 7.9% on Friday . The stock traded as high as $53.12 and last traded at $54.2060. Approximately 439,600 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 5,972,889 shares. The stock had previously closed at $50.24.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VIAV shares. B. Riley Financial boosted their price target on shares of Viavi Solutions from $26.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Susquehanna boosted their price target on shares of Viavi Solutions from $25.00 to $65.00 and gave the stock a "positive" rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Viavi Solutions from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $70.00 price objective on shares of Viavi Solutions in a research note on Wednesday. Finally, UBS Group upped their price objective on shares of Viavi Solutions from $25.00 to $60.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $42.75.

Viavi Solutions Trading Up 7.6%

The stock has a market capitalization of $12.65 billion, a P/E ratio of -223.29 and a beta of 1.18. The firm's 50 day moving average price is $47.00 and its 200 day moving average price is $31.89. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.61 and a quick ratio of 1.39.

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

Insider Activity at Viavi Solutions

In related news, SVP Luke M. Scrivanich sold 10,693 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $53.00, for a total transaction of $566,729.00. Following the transaction, the senior vice president owned 39,287 shares in the company, valued at $2,082,211. The trade was a 21.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Oleg Khaykin sold 136,547 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $51.82, for a total transaction of $7,075,865.54. Following the transaction, the chief executive officer owned 1,188,798 shares in the company, valued at $61,603,512.36. This represents a 10.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 450,369 shares of company stock valued at $23,789,119 over the last three months. Corporate insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WPG Advisers LLC increased its position in shares of Viavi Solutions by 96.2% during the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider's stock valued at $26,000 after buying an additional 380 shares during the period. Corient Private Wealth LLC increased its position in shares of Viavi Solutions by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 11,400 shares of the communications equipment provider's stock valued at $204,000 after buying an additional 394 shares during the period. Lido Advisors LLC increased its position in shares of Viavi Solutions by 2.0% during the fourth quarter. Lido Advisors LLC now owns 24,555 shares of the communications equipment provider's stock valued at $438,000 after buying an additional 473 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Viavi Solutions by 1.5% during the fourth quarter. Maryland State Retirement & Pension System now owns 32,572 shares of the communications equipment provider's stock valued at $580,000 after buying an additional 478 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Viavi Solutions by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 51,094 shares of the communications equipment provider's stock worth $910,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 95.54% of the company's stock.

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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