Viavi Solutions (NASDAQ:VIAV) Shares Up 8.8% – Here’s Why

Viavi Solutions Inc. (NASDAQ:VIAV)’s share price traded up 8.8% on Tuesday . The company traded as high as $37.76 and last traded at $37.9110. Approximately 1,885,226 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 6,050,240 shares. The stock had previously closed at $34.86.

Analyst Ratings Changes

Several equities analysts recently weighed in on VIAV shares. Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Needham & Company LLC cut their price objective on Viavi Solutions from $68.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings raised Viavi Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 25th. B. Riley Financial decreased their target price on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viavi Solutions has a consensus rating of “Moderate Buy” and an average target price of $55.43.

Viavi Solutions Stock Up 8.8%

The company has a market capitalization of $9.35 billion, a PE ratio of -252.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.85 and a quick ratio of 1.62. The business’s 50 day simple moving average is $39.44 and its 200 day simple moving average is $41.25.

Viavi Solutions (NASDAQ:VIAV) last issued its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $432.62 million. During the same period in the prior year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter 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, analysts anticipate that Viavi Solutions Inc. will post 1.32 earnings per share for the current fiscal year.

Insider Activity at Viavi Solutions

In other news, Director Laura Black sold 71,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $46.12, for a total value of $3,274,520.00. Following the transaction, the director directly owned 71,497 shares in the company, valued at approximately $3,297,441.64. This represents a 49.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ilan Daskal sold 56,290 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the transaction, the executive vice president directly owned 10,132 shares of the company’s stock, valued at $367,690.28. The trade was a 84.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 152,796 shares of company stock valued at $6,246,532 over the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Viavi Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the company. Silvant Capital Management LLC acquired a new position in Viavi Solutions in the 2nd quarter valued at about $33,000. WPG Advisers LLC boosted its position in Viavi Solutions by 96.2% in the 1st quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock valued at $26,000 after buying an additional 380 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Viavi Solutions in the second quarter worth $38,000. Carolina Wealth Advisors LLC increased its position in shares of Viavi Solutions by 83.2% during the second quarter. Carolina Wealth Advisors LLC now owns 852 shares of the communications equipment provider’s stock worth $41,000 after acquiring an additional 387 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Viavi Solutions during the 2nd quarter worth $57,000. 95.54% of the stock is currently owned by hedge funds and other institutional investors.

Viavi Solutions Company Profile

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.