Viavi Solutions (NASDAQ:VIAV) SVP Sells $869,643.07 in Stock

Viavi Solutions Inc. (NASDAQ:VIAV) SVP Luke Scrivanich sold 23,911 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $36.37, for a total value of $869,643.07. Following the sale, the senior vice president directly owned 39,598 shares of the company’s stock, valued at $1,440,179.26. The trade was a 37.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Viavi Solutions Trading Down 1.1%

Shares of NASDAQ:VIAV traded down $0.42 during mid-day trading on Monday, reaching $36.12. 1,628,303 shares of the company were exchanged, compared to its average volume of 6,116,666. 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 firm has a market cap of $8.91 billion, a price-to-earnings ratio of -240.78 and a beta of 1.22. The firm’s 50-day simple moving average is $41.22 and its 200 day simple moving average is $40.90. Viavi Solutions Inc. has a 1 year low of $11.09 and a 1 year high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The company had revenue of $443.10 million during the quarter, compared to the consensus estimate of $432.62 million. Viavi Solutions had a positive return on equity of 19.60% and a negative net margin of 2.00%.Viavi Solutions’s revenue was up 52.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Equities research analysts forecast that Viavi Solutions Inc. will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Viavi Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of Viavi Solutions by 11.5% in the 1st quarter. Royal Bank of Canada now owns 183,320 shares of the communications equipment provider’s stock valued at $2,051,000 after purchasing an additional 18,910 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Viavi Solutions by 110.5% during the first quarter. AQR Capital Management LLC now owns 33,663 shares of the communications equipment provider’s stock worth $377,000 after purchasing an additional 17,673 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Viavi Solutions by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 131,061 shares of the communications equipment provider’s stock worth $1,467,000 after purchasing an additional 5,775 shares during the period. Millennium Management LLC lifted its holdings in shares of Viavi Solutions by 205.4% during the first quarter. Millennium Management LLC now owns 476,767 shares of the communications equipment provider’s stock worth $5,335,000 after purchasing an additional 320,662 shares during the period. Finally, United Services Automobile Association purchased a new position in Viavi Solutions in the 1st quarter valued at $165,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

Analyst Upgrades and Downgrades

VIAV has been the topic of a number of analyst reports. B. Riley Financial cut their price target on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Susquehanna increased their price objective on Viavi Solutions from $65.00 to $66.00 and gave the company a “positive” rating in a report on Wednesday, July 1st. Weiss Ratings raised Viavi Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. Finally, UBS Group lowered their price target on Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.88.

About Viavi Solutions

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.