Viavi Solutions Inc. (NASDAQ:VIAV – Get Free Report) shares were down 5.4% on Thursday . The stock traded as low as $49.87 and last traded at $50.2110. Approximately 2,039,202 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 5,927,728 shares. The stock had previously closed at $53.06.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Viavi Solutions from $25.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. B. Riley Financial boosted their target price on Viavi Solutions from $26.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Rosenblatt Securities upped their price target on Viavi Solutions from $27.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Needham & Company LLC raised their price objective on Viavi Solutions from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.25.
Get Our Latest Stock Report on Viavi Solutions
Viavi Solutions Stock Performance
Viavi Solutions (NASDAQ:VIAV – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Viavi Solutions had a negative net margin of 4.03% and a positive return on equity of 16.80%. The firm had revenue of $406.80 million during the quarter, compared to analysts’ expectations of $393.80 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 42.8% on a year-over-year basis. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. On average, analysts forecast that Viavi Solutions Inc. will post 0.73 earnings per share for the current year.
Insider Activity
In related news, Director Doug Gilstrap sold 10,000 shares of Viavi Solutions stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. Following the transaction, the director owned 55,766 shares of the company’s stock, valued at $3,067,130. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke M. Scrivanich sold 10,693 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $53.00, for a total value of $566,729.00. Following the sale, the senior vice president owned 39,287 shares of the company’s stock, valued at $2,082,211. This trade represents a 21.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 461,184 shares of company stock worth $24,158,554. Company insiders own 1.80% of the company’s stock.
Hedge Funds Weigh In On Viavi Solutions
Hedge funds have recently bought and sold shares of the company. WPG Advisers LLC boosted its stake in Viavi Solutions by 96.2% in the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 380 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Viavi Solutions by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 11,400 shares of the communications equipment provider’s stock worth $204,000 after acquiring an additional 394 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Viavi Solutions by 2.0% in the 4th quarter. Lido Advisors LLC now owns 24,555 shares of the communications equipment provider’s stock worth $438,000 after acquiring an additional 473 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Viavi Solutions by 1.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 32,572 shares of the communications equipment provider’s stock worth $580,000 after acquiring an additional 478 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Viavi Solutions by 1.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 51,094 shares of the communications equipment provider’s stock valued at $910,000 after purchasing an additional 800 shares in the last quarter. 95.54% of the stock is 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.
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