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

Key Points

• Viavi Solutions shares rose 7.9% on Thursday, trading as high as $44.15 before closing near $43.93, well above the prior close of $40.70.
• Analysts have turned more bullish on the stock, with several firms raising price targets; the current consensus rating is “Moderate Buy” with a consensus price target of $42.88.
• The company recently beat earnings and revenue estimates, reporting $0.27 EPS and $406.8 million in quarterly revenue, while revenue jumped 42.8% year over year.

Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) shares were up 7.9% during mid-day trading on Thursday . The company traded as high as $44.15 and last traded at $43.9310. 894,778 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 6,530,013 shares. The stock had previously closed at $40.70.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VIAV. B. Riley Financial raised their price objective on Viavi Solutions from $26.00 to $53.00 and gave the company a "buy" rating in a report on Friday, April 24th. Rosenblatt Securities reiterated a "buy" rating and set a $70.00 price target on shares of Viavi Solutions in a research report on Wednesday, June 10th. Weiss Ratings raised shares of Viavi Solutions from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Viavi Solutions from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. 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 research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.88.

Viavi Solutions Price Performance

The company has a quick ratio of 1.39, a current ratio of 1.61 and a debt-to-equity ratio of 0.99. The firm's fifty day moving average price is $49.23 and its 200-day moving average price is $35.83. The stock has a market cap of $10.14 billion, a P/E ratio of -180.46 and a beta of 1.18.

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

Insider Buying and Selling

In related news, SVP Luke M. Scrivanich sold 10,693 shares of the business's 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Oleg Khaykin sold 136,547 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $51.82, for a total value of $7,075,865.54. Following the transaction, the chief executive officer directly owned 1,188,798 shares of the company's stock, valued at $61,603,512.36. The trade was a 10.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 450,369 shares of company stock valued at $23,789,119 over the last ninety days. Corporate insiders own 1.80% of the company's stock.

Institutional Trading of Viavi Solutions

Large investors have recently added to or reduced their stakes in the stock. WPG Advisers LLC grew its stake in shares of Viavi Solutions by 96.2% in the 1st quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider's stock worth $26,000 after buying an additional 380 shares during the last quarter. Corient Private Wealth LLC grew its stake in shares of Viavi Solutions by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 11,400 shares of the communications equipment provider's stock valued at $204,000 after purchasing an additional 394 shares during the period. Lido Advisors LLC grew its position in 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 grew its position in 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 raised its holdings in Viavi Solutions by 1.6% in the 4th 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. 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.

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