Viavi Solutions Inc. (VIAV) Sets New 1-Year High at $7.25
Viavi Solutions Inc. (NASDAQ:VIAV) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $7.25 and last traded at $7.24, with a volume of 628,035 shares traded. The stock had previously closed at $7.14.
A number of equities research analysts recently issued reports on VIAV shares. B. Riley reiterated a “buy” rating and issued a $8.25 price objective on shares of Viavi Solutions in a report on Monday, May 2nd. William Blair reiterated a “buy” rating on shares of Viavi Solutions in a report on Wednesday, May 4th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Viavi Solutions in a report on Wednesday, May 4th. Finally, MKM Partners upped their price objective on shares of Viavi Solutions from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, June 6th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.00.
The stock’s 50 day moving average price is $6.92 and its 200-day moving average price is $6.50. The stock’s market capitalization is $1.69 billion.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company had revenue of $220.40 million for the quarter, compared to analyst estimates of $218.38 million. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that Viavi Solutions Inc. will post $0.37 EPS for the current fiscal year.
In related news, EVP Paul Mcnab sold 62,131 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $6.69, for a total transaction of $415,656.39. Following the sale, the executive vice president now directly owns 34,194 shares in the company, valued at $228,757.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Ralph Rondinone sold 4,685 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $6.35, for a total transaction of $29,749.75. Following the sale, the senior vice president now owns 2,624 shares in the company, valued at $16,662.40. The disclosure for this sale can be found here.
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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