Stock Traders Buy High Volume of Call Options on Viavi Solutions (VIAV)
Viavi Solutions Inc (NASDAQ:VIAV) was the target of some unusual options trading on Monday. Stock traders purchased 2,223 call options on the company. This represents an increase of approximately 748% compared to the average daily volume of 262 call options.
Shares of Viavi Solutions stock opened at $9.57 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.18 and a current ratio of 2.39. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 28.15 and a beta of 0.87. Viavi Solutions has a 1-year low of $8.49 and a 1-year high of $12.82.
Viavi Solutions (NASDAQ:VIAV) last announced its earnings results on Thursday, November 1st. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $268.50 million for the quarter, compared to the consensus estimate of $268.73 million. Viavi Solutions had a positive return on equity of 12.72% and a negative net margin of 5.92%. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. On average, research analysts forecast that Viavi Solutions will post 0.49 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. Raymond James & Associates bought a new stake in Viavi Solutions during the 2nd quarter valued at $109,000. Main Street Research LLC bought a new stake in Viavi Solutions during the 3rd quarter valued at $121,000. Paloma Partners Management Co bought a new stake in Viavi Solutions during the 3rd quarter valued at $188,000. Quantbot Technologies LP bought a new stake in Viavi Solutions during the 3rd quarter valued at $250,000. Finally, Gateway Investment Advisers LLC bought a new stake in Viavi Solutions during the 2nd quarter valued at $286,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the company. BidaskClub lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 7th. ValuEngine lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. JPMorgan Chase & Co. boosted their price objective on Viavi Solutions from $11.00 to $12.00 and gave the company a “sell” rating in a research report on Friday, November 2nd. Stifel Nicolaus assumed coverage on Viavi Solutions in a research report on Monday, October 22nd. They set a “buy” rating and a $14.00 price objective for the company. Finally, Zacks Investment Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $11.99.
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About Viavi Solutions
Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.
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