Viavi Solutions (NASDAQ:VIAV) Stock Jumps 9.9% – Here’s What Happened

Viavi Solutions Inc. (NASDAQ:VIAV)’s stock price rose 9.9% during trading on Tuesday. The company traded as high as $30.44 and last traded at $30.56. Approximately 2,182,349 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 5,945,354 shares. The stock had previously closed at $27.80.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Weiss Ratings lowered Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. UBS Group lowered their price target on shares of Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. Stifel Nicolaus set a $65.00 price objective on shares of Viavi Solutions in a research report on Wednesday, September 23rd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $70.00 target price on shares of Viavi Solutions in a research report on Wednesday, September 23rd. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.43.

Viavi Solutions Stock Performance

The company has a current ratio of 1.85, a quick ratio of 1.62 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.57 billion, a PE ratio of -205.65 and a beta of 1.21. The firm’s 50-day simple moving average is $37.43 and its two-hundred day simple moving average is $38.44.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%. The company had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $432.62 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 52.5% compared to the same quarter last year. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. As a group, research analysts anticipate that Viavi Solutions Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In related news, Director Laura Black sold 71,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $46.12, for a total value of $3,274,520.00. Following the completion of the sale, the director owned 71,497 shares of the company’s stock, valued at approximately $3,297,441.64. This trade represents a 49.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul McNab sold 11,032 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $38.97, for a total transaction of $429,917.04. Following the transaction, the executive vice president directly owned 25,639 shares in the company, valued at approximately $999,151.83. The trade was a 30.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 199,694 shares of company stock valued at $7,976,233. Insiders own 1.20% of the company’s stock.

Institutional Trading of Viavi Solutions

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Viavi Solutions during the 2nd quarter worth approximately $1,228,529,000. Assenagon Asset Management S.A. increased its holdings in Viavi Solutions by 1,402.9% in the third quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider’s stock valued at $236,418,000 after buying an additional 5,264,496 shares during the last quarter. Bank of America Corp DE purchased a new position in Viavi Solutions in the second quarter valued at $134,922,000. Allspring Global Investments Holdings LLC acquired a new position in Viavi Solutions in the first quarter valued at approximately $75,294,000. Finally, Bowen Hanes & Co. Inc. boosted its position in shares of Viavi Solutions by 7.0% in the 1st quarter. Bowen Hanes & Co. Inc. now owns 2,000,000 shares of the communications equipment provider’s stock valued at $66,560,000 after purchasing an additional 130,000 shares during the period. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

Viavi Solutions Inc (NASDAQ: VIAV) develops equipment, software and services used to test, monitor and secure communications networks. Its solutions support network operators, equipment manufacturers, government agencies and other organizations involved in the design, deployment and operation of wired and wireless networks.

The company’s products include fiber-optic and broadband test instruments, network performance and service-assurance software, optical spectrum analyzers, monitoring systems and tools for testing 5G and other advanced communications technologies.