Viavi Solutions (NASDAQ:VIAV) Announces Quarterly Earnings Results

Viavi Solutions (NASDAQ:VIAV) issued its quarterly earnings results on Wednesday. The communications equipment provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03, FiscalAI reports. Viavi Solutions had a return on equity of 10.70% and a net margin of 1.33%.

Viavi Solutions Stock Performance

VIAV stock traded up $0.33 during trading on Wednesday, hitting $21.03. 8,670,731 shares of the company’s stock traded hands, compared to its average volume of 4,134,693. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 300.43 and a beta of 0.94. Viavi Solutions has a 52 week low of $8.10 and a 52 week high of $21.52. The stock has a fifty day moving average price of $18.09 and a two-hundred day moving average price of $14.47. The company has a quick ratio of 1.74, a current ratio of 1.99 and a debt-to-equity ratio of 0.88.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VIAV. Weiss Ratings restated a “sell (d)” rating on shares of Viavi Solutions in a report on Monday, December 29th. Needham & Company LLC raised their price target on shares of Viavi Solutions from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Stifel Nicolaus boosted their price objective on shares of Viavi Solutions from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. B. Riley raised their target price on shares of Viavi Solutions from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Monday. Finally, UBS Group increased their price target on Viavi Solutions from $12.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.89.

Insider Transactions at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 24,225 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $18.26, for a total transaction of $442,348.50. Following the completion of the transaction, the senior vice president directly owned 49,225 shares in the company, valued at $898,848.50. This represents a 32.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald A. Colvin sold 40,000 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $17.09, for a total transaction of $683,600.00. Following the transaction, the director owned 148,524 shares of the company’s stock, valued at $2,538,275.16. This represents a 21.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 606,226 shares of company stock valued at $10,714,820 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Viavi Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. Hancock Whitney Corp bought a new stake in Viavi Solutions in the third quarter valued at $320,000. Caxton Associates LLP bought a new stake in shares of Viavi Solutions in the 3rd quarter worth about $299,000. Lido Advisors LLC increased its position in shares of Viavi Solutions by 3.0% during the 3rd quarter. Lido Advisors LLC now owns 24,082 shares of the communications equipment provider’s stock worth $306,000 after purchasing an additional 697 shares in the last quarter. Entropy Technologies LP bought a new position in Viavi Solutions during the 3rd quarter valued at about $436,000. Finally, Boothbay Fund Management LLC boosted its position in Viavi Solutions by 35.1% in the second quarter. Boothbay Fund Management LLC now owns 40,890 shares of the communications equipment provider’s stock valued at $412,000 after buying an additional 10,621 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

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.