Viavi Solutions (NASDAQ:VIAV) Shares Climb 5.1% – Here’s Why

Viavi Solutions Inc. (NASDAQ:VIAV) was up 5.1% during mid-day trading on Thursday. The stock traded as high as $44.12 and last traded at $44.0520. 2,090,480 shares were traded during mid-day trading, a decline of 65% from the average session volume of 6,033,106 shares. The stock had previously closed at $41.92.

Wall Street Analyst Weigh In

VIAV has been the subject of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 price objective on shares of Viavi Solutions in a research note on Wednesday, September 23rd. B. Riley Financial decreased their price target on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus set a $65.00 price objective on Viavi Solutions in a research report on Wednesday, September 23rd. Susquehanna raised their target price on Viavi Solutions from $65.00 to $66.00 and gave the company a “positive” rating in a research report on Wednesday, July 1st. Finally, Needham & Company LLC lowered their target price on Viavi Solutions from $68.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.43.

Viavi Solutions Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.85. The company has a market cap of $11.01 billion, a PE ratio of -298.04 and a beta of 1.22. The company’s 50 day moving average price is $37.99 and its 200-day moving average price is $42.18.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.The company had revenue of $443.10 million during the quarter, compared to analyst estimates of $432.62 million. During the same quarter last year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Equities research analysts anticipate that Viavi Solutions Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other news, EVP Paul McNab sold 11,032 shares of Viavi Solutions stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $38.97, for a total value of $429,917.04. Following the completion of the transaction, the executive vice president owned 25,639 shares in the company, valued at $999,151.83. This trade represents a 30.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ilan Daskal sold 56,290 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the completion of the sale, the executive vice president directly owned 10,132 shares in the company, valued at approximately $367,690.28. This trade represents a 84.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 199,694 shares of company stock worth $7,976,233 over the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Viavi Solutions

Several institutional investors have recently made changes to their positions in VIAV. BlackRock Inc. bought a new stake in shares of Viavi Solutions during the 2nd quarter valued at $1,228,529,000. Intech Investment Management LLC boosted its stake in Viavi Solutions by 29.1% during the fourth quarter. Intech Investment Management LLC now owns 109,258 shares of the communications equipment provider’s stock valued at $1,947,000 after buying an additional 24,638 shares during the period. Granahan Investment Management LLC purchased a new position in shares of Viavi Solutions during the first quarter worth about $3,187,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Viavi Solutions in the 1st quarter worth $3,048,000. Finally, Ma Investment Partnership LP increased its stake in Viavi Solutions by 150.0% in the first quarter. Ma Investment Partnership LP now owns 500,000 shares of the communications equipment provider’s stock valued at $16,640,000 after acquiring an additional 300,000 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc (NASDAQ: VIAV) develops test, measurement, and assurance technologies for communications networks, optical systems, and related industrial applications. Its solutions are used by network equipment manufacturers, communications service providers, contractors, and government organizations to install, validate, monitor, and maintain wired and wireless networks.

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