Viavi Solutions (NASDAQ:VIAV) Announces Quarterly Earnings Results

Viavi Solutions (NASDAQ:VIAV) issued its quarterly earnings results on Thursday. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01), Briefing.com reports. The business had revenue of $246.00 million for the quarter, compared to analyst estimates of $249.08 million. Viavi Solutions had a return on equity of 5.38% and a net margin of 0.49%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. Viavi Solutions updated its Q4 guidance to $0.06-$0.08 EPS.

Viavi Solutions Stock Performance

NASDAQ:VIAV traded down $0.46 during midday trading on Friday, hitting $7.56. The company’s stock had a trading volume of 4,038,127 shares, compared to its average volume of 2,084,735. The firm has a market cap of $1.68 billion, a P/E ratio of 378.00 and a beta of 0.97. Viavi Solutions has a fifty-two week low of $7.10 and a fifty-two week high of $11.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.09 and a quick ratio of 2.72. The firm’s 50 day moving average is $9.11 and its 200-day moving average is $9.03.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com raised Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley upped their price objective on shares of Viavi Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Northland Securities lifted their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Stifel Nicolaus restated a “buy” rating and set a $13.00 price target on shares of Viavi Solutions in a research note on Monday, April 1st. Finally, Susquehanna downgraded shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research note on Friday. Three analysts have rated the stock with a hold rating and four have given 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.

Insiders Place Their Bets

In other news, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 directly owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Paul Mcnab sold 15,004 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $10.70, for a total value of $149,446.90. Following 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 company 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.