Viavi Solutions (NASDAQ:VIAV) Stock Price Down 8.6% After Insider Selling

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) traded down 8.6% on Monday following insider selling activity. The company traded as low as $35.69 and last traded at $35.4050. 1,020,770 shares traded hands during trading, a decline of 83% from the average daily volume of 6,029,052 shares. The stock had previously closed at $38.75.

Specifically, EVP Paul McNab sold 11,032 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $38.97, for a total transaction of $429,917.04. Following the completion of the sale, the executive vice president owned 25,639 shares of the company’s stock, valued at $999,151.83. This represents a 30.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of equities analysts have recently commented on VIAV shares. Stifel Nicolaus lifted their price target on shares of Viavi Solutions from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Zacks Research upgraded shares of Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. B. Riley Financial dropped their target price on shares of Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Susquehanna boosted their target price on shares of Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Viavi Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $55.43.

Viavi Solutions Trading Down 8.6%

The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of -235.99 and a beta of 1.22. The company’s 50 day moving average is $38.96 and its 200 day moving average is $41.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.85.

Viavi Solutions (NASDAQ:VIAV) last posted its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The company had revenue of $443.10 million for the quarter, compared to analyst estimates of $432.62 million. During the same period last year, the business posted $0.13 EPS. The business’s quarterly revenue was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. On average, research analysts forecast that Viavi Solutions Inc. will post 1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Viavi Solutions

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Viavi Solutions in the 2nd quarter valued at approximately $1,228,529,000. Capital World Investors grew its holdings in shares of Viavi Solutions by 4.4% during the 4th quarter. Capital World Investors now owns 15,620,410 shares of the communications equipment provider’s stock worth $278,356,000 after purchasing an additional 664,956 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Viavi Solutions by 4,790.6% during the second quarter. California State Teachers Retirement System now owns 12,773,316 shares of the communications equipment provider’s stock valued at $609,926,000 after purchasing an additional 12,512,136 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Viavi Solutions by 3.5% during the third quarter. Dimensional Fund Advisors LP now owns 6,846,226 shares of the communications equipment provider’s stock valued at $86,875,000 after purchasing an additional 231,570 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Viavi Solutions by 0.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,673,145 shares of the communications equipment provider’s stock valued at $118,915,000 after purchasing an additional 33,463 shares in the last quarter. 95.54% of the stock is owned by institutional investors and hedge funds.

Viavi Solutions Company Profile

Viavi Solutions Inc (NASDAQ: VIAV) develops test, measurement, and assurance technologies for communications networks and optical systems. Its products and software help telecommunications providers, network equipment manufacturers, data centers, government organizations, and other enterprises build, validate, monitor, and maintain wired and wireless networks.

The company’s offerings include instruments and software for fiber-optic testing, network installation and certification, service activation, network performance monitoring, troubleshooting, and telecommunications equipment testing.