Viavi Solutions Inc. (VIAV) Reaches New 52-Week High at $7.89
Viavi Solutions Inc. (NASDAQ:VIAV)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $7.89 and last traded at $7.86, with a volume of 470,995 shares trading hands. The stock had previously closed at $7.78.
Several research firms have recently issued reports on VIAV. William Blair reaffirmed a “buy” rating on shares of Viavi Solutions in a research note on Monday, June 6th. B. Riley reaffirmed a “buy” rating and set a $8.25 price target on shares of Viavi Solutions in a research note on Monday, May 2nd. Zacks Investment Research raised shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Wednesday, August 17th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Viavi Solutions in a research note on Wednesday, May 4th. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $6.00 price target on shares of Viavi Solutions in a research note on Friday, August 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Viavi Solutions presently has an average rating of “Hold” and an average price target of $7.40.
The firm has a 50 day moving average of $7.30 and a 200-day moving average of $6.80. The stock’s market capitalization is $1.82 billion.
Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $224.10 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same period in the prior year, the firm posted $0.13 EPS. Viavi Solutions’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that Viavi Solutions Inc. will post $0.36 EPS for the current year.
In other Viavi Solutions news, SVP Luke M. Scrivanich sold 14,415 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $7.84, for a total value of $113,013.60. Following the completion of the transaction, the senior vice president now owns 12,686 shares of the company’s stock, valued at approximately $99,458.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Luke M. Scrivanich sold 16,555 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $7.73, for a total transaction of $127,970.15. Following the completion of the transaction, the senior vice president now directly owns 35,493 shares of the company’s stock, valued at approximately $274,360.89. 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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