Viavi Solutions (NASDAQ:VIAV) Sets New 1-Year Low Following Weak Earnings

Viavi Solutions Inc. (NASDAQ:VIAV)’s stock price reached a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $7.10 and last traded at $7.46, with a volume of 624856 shares traded. The stock had previously closed at $8.02.

The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm 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%. Viavi Solutions’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share.

Wall Street Analysts Forecast Growth

VIAV has been the topic of a number of recent research reports. Rosenblatt Securities reduced their price objective on Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Viavi Solutions in a research report on Friday. Susquehanna downgraded Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Friday. Northland Securities raised their target price on shares of Viavi Solutions from $12.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Finally, Morgan Stanley lifted their target price on shares of 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Activity

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction 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 sale, the senior vice president now owns 47,097 shares in the company, valued at $503,937.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Paul Mcnab sold 15,004 shares of Viavi Solutions stock in a transaction 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 sale, the executive vice president now owns 57,940 shares in the company, valued at $615,322.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of Viavi Solutions stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.70, for a total transaction of $149,446.90. Following the completion of the sale, the senior vice president now owns 47,097 shares in the company, valued at approximately $503,937.90. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Viavi Solutions

Several large investors have recently added to or reduced their stakes in VIAV. Essex Investment Management Co. LLC bought a new stake in shares of Viavi Solutions during the 1st quarter valued at $1,916,000. Mutual of America Capital Management LLC boosted its holdings in shares of Viavi Solutions by 423.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 203,814 shares of the communications equipment provider’s stock valued at $1,853,000 after buying an additional 164,889 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Viavi Solutions by 11.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 17,326 shares of the communications equipment provider’s stock valued at $157,000 after buying an additional 1,756 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Viavi Solutions by 98.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,070,353 shares of the communications equipment provider’s stock valued at $18,820,000 after buying an additional 1,025,987 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in shares of Viavi Solutions by 0.4% during the 1st quarter. Tributary Capital Management LLC now owns 1,281,988 shares of the communications equipment provider’s stock valued at $11,653,000 after buying an additional 5,505 shares in the last quarter. Institutional investors own 95.54% of the company’s stock.

Viavi Solutions Trading Down 5.7 %

The stock has a market cap of $1.68 billion, a P/E ratio of 378.00 and a beta of 0.97. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87. The stock’s fifty day moving average price is $9.11 and its 200 day moving average price is $9.04.

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.