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

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) rose 8.8% during mid-day trading on Tuesday . The company traded as high as $37.76 and last traded at $37.9110. 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings downgraded shares of Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. B. Riley Financial dropped their price objective on shares of Viavi Solutions from $63.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wall Street Zen lowered Viavi Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 target price on shares of Viavi Solutions in a report on Wednesday, August 19th. Finally, UBS Group reduced their target price on Viavi Solutions from $60.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viavi Solutions has an average rating of “Moderate Buy” and a consensus target price of $55.43.

Viavi Solutions Price Performance

The firm has a fifty day moving average of $39.10 and a two-hundred day moving average of $41.43. The stock has a market capitalization of $9.23 billion, a P/E ratio of -249.19 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.

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

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 23,911 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $36.37, for a total transaction of $869,643.07. Following the completion of the sale, the senior vice president owned 39,598 shares in the company, valued at $1,440,179.26. This represents a 37.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul McNab sold 1,595 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $37.37, for a total value of $59,605.15. Following the sale, the executive vice president directly owned 13,876 shares in the company, valued at $518,546.12. This trade represents a 10.31% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 152,796 shares of company stock valued at $6,246,532. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VIAV. WPG Advisers LLC boosted its position in Viavi Solutions by 96.2% during the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 380 shares in the last quarter. Silvant Capital Management LLC purchased a new position in Viavi Solutions in the second quarter valued at about $33,000. State of Wyoming bought a new position in Viavi Solutions in the fourth quarter worth about $34,000. Persistent Asset Partners Ltd bought a new position in Viavi Solutions in the second quarter worth about $38,000. Finally, Carolina Wealth Advisors LLC lifted 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 valued at $41,000 after buying an additional 387 shares during the last quarter. 95.54% of the stock is owned by institutional investors.

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.