Viavi Solutions Inc. (VIAV) Reaches New 1-Year High at $7.89
Viavi Solutions Inc. (NASDAQ:VIAV) reached a new 52-week high on Tuesday . The company traded as high as $7.89 and last traded at $7.81, with a volume of 764,445 shares trading hands. The stock had previously closed at $7.77.
A number of equities research analysts have recently weighed in on VIAV shares. William Blair reaffirmed a “buy” rating on shares of Viavi Solutions in a report on Wednesday, May 4th. B. Riley reissued a “buy” rating and set a $8.25 target price on shares of Viavi Solutions in a report on Monday, May 2nd. MKM Partners boosted their target price on Viavi Solutions from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, June 6th. Zacks Investment Research raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Viavi Solutions in a report on Wednesday, May 4th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.40.
The firm’s market cap is $1.80 billion. The stock has a 50-day moving average of $7.20 and a 200-day moving average of $6.75.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. During the same period last year, the firm posted $0.13 earnings per share. The company had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Viavi Solutions Inc. will post $0.36 EPS for the current year.
In related news, SVP Luke M. Scrivanich sold 14,415 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $7.84, for a total transaction of $113,013.60. Following the sale, the senior vice president now directly owns 12,686 shares in the company, valued at approximately $99,458.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kevin Christopher Siebert sold 6,938 shares of Viavi Solutions stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $7.73, for a total transaction of $53,630.74. Following the sale, the vice president now owns 691 shares in the company, valued at $5,341.43. 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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