Viavi Solutions (NASDAQ:VIAV) Shares Gap Up – Here’s Why

Viavi Solutions Inc. (NASDAQ:VIAV) gapped up before the market opened on Tuesday . The stock had previously closed at $9.94, but opened at $10.37. Viavi Solutions shares last traded at $10.37, with a volume of 51,136 shares.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VIAV. B. Riley cut their target price on shares of Viavi Solutions from $9.00 to $8.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. StockNews.com lowered Viavi Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. UBS Group began coverage on Viavi Solutions in a report on Tuesday, November 19th. They issued a “neutral” rating and a $10.60 target price on the stock. Northland Securities raised their price target on shares of Viavi Solutions from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities upped their price objective on shares of Viavi Solutions from $8.25 to $10.50 and gave the company a “neutral” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.44.

Viavi Solutions Trading Up 1.0 %

The company has a debt-to-equity ratio of 0.91, a current ratio of 3.71 and a quick ratio of 3.31. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -61.23 and a beta of 0.92. The business has a fifty day moving average price of $9.54 and a 200 day moving average price of $8.35.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Thursday, October 31st. The communications equipment provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $240.09 million. Viavi Solutions had a negative net margin of 3.78% and a positive return on equity of 2.22%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 EPS. On average, equities analysts expect that Viavi Solutions Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Viavi Solutions news, Director Masood Jabbar sold 15,000 shares of Viavi Solutions stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $10.14, for a total transaction of $152,100.00. Following the sale, the director now owns 225,333 shares in the company, valued at $2,284,876.62. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke M. Scrivanich sold 3,029 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $8.86, for a total transaction of $26,836.94. Following the completion of the sale, the senior vice president now directly owns 57,319 shares in the company, valued at $507,846.34. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,949 shares of company stock valued at $489,511 over the last three months. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viavi Solutions

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. boosted its stake in Viavi Solutions by 98,561.6% in the 2nd quarter. Federated Hermes Inc. now owns 187,457 shares of the communications equipment provider’s stock valued at $1,288,000 after buying an additional 187,267 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Viavi Solutions by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 112,300 shares of the communications equipment provider’s stock valued at $772,000 after acquiring an additional 2,100 shares during the last quarter. Boston Partners acquired a new position in shares of Viavi Solutions in the 1st quarter worth approximately $795,000. Leeward Investments LLC MA boosted its holdings in shares of Viavi Solutions by 17.1% in the 3rd quarter. Leeward Investments LLC MA now owns 1,705,653 shares of the communications equipment provider’s stock worth $15,385,000 after acquiring an additional 249,554 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Viavi Solutions during the 3rd quarter worth approximately $105,000. 95.54% of the stock is currently owned by institutional investors.

About Viavi Solutions

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.