Viavi Solutions (NASDAQ:VIAV) Stock Price Down 7.9% – Here’s What Happened

Shares of Viavi Solutions Inc. (NASDAQ:VIAV) were down 7.9% during mid-day trading on Monday. The company traded as low as $41.91 and last traded at $41.8570. Approximately 2,613,994 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 6,011,645 shares. The stock had previously closed at $45.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Needham & Company LLC reduced their target price on shares of Viavi Solutions from $68.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. UBS Group reduced 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. Weiss Ratings lowered Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 8th. Stifel Nicolaus set a $65.00 target price on Viavi Solutions in a research report on Wednesday, September 23rd. Finally, Zacks Research upgraded Viavi Solutions from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Viavi Solutions has an average rating of “Moderate Buy” and a consensus price target of $55.43.

Viavi Solutions Stock Down 8.0%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.62 and a current ratio of 1.85. The firm has a market capitalization of $10.28 billion, a P/E ratio of -278.69 and a beta of 1.21. The stock has a fifty day moving average price of $39.27 and a two-hundred day moving average price of $42.87.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.34 EPS for the quarter, topping 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 firm had revenue of $443.10 million during the quarter, compared to the consensus estimate of $432.62 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The firm’s revenue was up 52.5% on a year-over-year basis. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Research analysts forecast that Viavi Solutions Inc. will post 1.42 EPS for the current year.

Insiders Place Their Bets

In other Viavi Solutions news, SVP Luke M. Scrivanich sold 35,866 shares of Viavi Solutions stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $36.24, for a total value of $1,299,783.84. Following the transaction, the senior vice president owned 39,598 shares in the company, valued at approximately $1,435,031.52. The trade was a 47.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ilan Daskal sold 56,290 shares of Viavi Solutions stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $36.29, for a total transaction of $2,042,764.10. Following the completion of the transaction, the executive vice president directly owned 10,132 shares in the company, valued at approximately $367,690.28. This trade represents a 84.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 199,694 shares of company stock valued at $7,976,233. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Viavi Solutions

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of Viavi Solutions by 10.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,706 shares of the communications equipment provider’s stock valued at $281,000 after purchasing an additional 611 shares during the period. HBK Investments L P bought a new position in Viavi Solutions during the second quarter valued at about $9,550,000. Tidal Investments LLC raised its position in shares of Viavi Solutions by 697.1% in the second quarter. Tidal Investments LLC now owns 52,009 shares of the communications equipment provider’s stock valued at $2,483,000 after purchasing an additional 45,484 shares during the period. WINTON GROUP Ltd acquired a new stake in Viavi Solutions in the 2nd quarter valued at approximately $372,000. Finally, Integrated Wealth Concepts LLC bought a new position in Viavi Solutions during the second quarter worth $149,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

About Viavi Solutions

Viavi Solutions Inc (NASDAQ: VIAV) develops test, measurement, and assurance technologies for communications networks, optical systems, and related industrial applications. Its solutions are used by network equipment manufacturers, communications service providers, contractors, and government organizations to install, validate, monitor, and maintain wired and wireless networks.

The company’s offerings include instruments and software for fiber-optic testing, network performance monitoring, service activation, troubleshooting, and assurance.