Viavi Solutions Inc. (VIAV) Reaches New 12-Month High at $7.89
Viavi Solutions Inc. (NASDAQ:VIAV) hit a new 52-week high on Tuesday . The stock traded as high as $7.89 and last traded at $7.86, with a volume of 470,995 shares traded. The stock had previously closed at $7.78.
Several equities research analysts have recently weighed in on VIAV shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Viavi Solutions in a research report on Monday, August 15th. B. Riley cut shares of Viavi Solutions to a “neutral” rating and set a $6.75 target price for the company. in a research report on Saturday, July 2nd. William Blair reissued a “buy” rating on shares of Viavi Solutions in a research report on Wednesday, May 4th. Jefferies Group increased their target price on shares of Viavi Solutions from $5.75 to $7.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Finally, MKM Partners increased their target price on shares of Viavi Solutions from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, June 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Viavi Solutions presently has an average rating of “Hold” and a consensus price target of $7.40.
The stock’s 50-day moving average price is $7.35 and its 200 day moving average price is $6.82. The company’s market cap is $1.81 billion.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $224.10 million for the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. Viavi Solutions’s revenue was up 1.8% on a year-over-year basis. Equities research analysts expect that Viavi Solutions Inc. will post $0.36 earnings per share for the current fiscal year.
In related news, SVP Dion Joannou sold 12,466 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $7.79, for a total value of $97,110.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Luke M. Scrivanich sold 16,555 shares of Viavi Solutions stock in a transaction that occurred on Thursday, August 25th. The shares were 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 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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