Viavi Solutions (NASDAQ:VIAV) Announces Earnings Results

Viavi Solutions (NASDAQ:VIAV) released its quarterly earnings data on Thursday. The communications equipment provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01), Briefing.com reports. The company had revenue of $246.00 million during the quarter, compared to analysts’ expectations of $249.08 million. Viavi Solutions had a positive return on equity of 4.66% and a negative net margin of 0.42%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS. Viavi Solutions updated its Q4 guidance to $0.06-$0.08 EPS.

Viavi Solutions Stock Down 5.7 %

Shares of VIAV opened at $7.56 on Friday. The stock has a 50 day moving average price of $9.11 and a 200 day moving average price of $9.03. Viavi Solutions has a one year low of $7.10 and a one year high of $11.65. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.72 and a current ratio of 3.09. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 378.00 and a beta of 0.97.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VIAV shares. Susquehanna downgraded shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price target on the stock. in a report on Friday. StockNews.com upgraded Viavi Solutions from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Northland Securities increased their price target on Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday. Finally, Morgan Stanley upped their target price on Viavi Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Viavi Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Buying and Selling at Viavi Solutions

In other news, EVP Paul Mcnab sold 15,004 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares of the company’s stock, valued at $615,322.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Viavi Solutions news, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total value of $159,342.48. Following the transaction, the executive vice president now directly owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.70, for a total value of $149,446.90. Following the completion of the sale, the senior vice president now owns 47,097 shares of the company’s stock, valued at $503,937.90. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions for communications service providers, hyperscalers, network equipment manufacturers, original equipment manufacturers, government, and avionics customers in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa.