20,041 Shares in Viavi Solutions Inc. $VIAV Acquired by Castleark Management LLC

Castleark Management LLC purchased a new position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 20,041 shares of the communications equipment provider’s stock, valued at approximately $957,000.

A number of other large investors have also added to or reduced their stakes in VIAV. Nicholas Investment Partners LP purchased a new stake in Viavi Solutions during the 2nd quarter worth approximately $10,036,000. Legal & General Group Plc acquired a new stake in Viavi Solutions in the second quarter valued at $15,319,000. The Manufacturers Life Insurance Company bought a new position in Viavi Solutions during the 2nd quarter valued at $7,734,000. Algert Global LLC grew its holdings in Viavi Solutions by 57.5% during the 2nd quarter. Algert Global LLC now owns 112,030 shares of the communications equipment provider’s stock worth $5,349,000 after acquiring an additional 40,890 shares in the last quarter. Finally, Parsifal Capital Management LP bought a new stake in shares of Viavi Solutions in the 2nd quarter worth about $29,549,562,000. 95.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Laura A. Black sold 71,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $46.12, for a total value of $3,274,520.00. Following the completion of the sale, the director directly owned 71,497 shares in the company, valued at approximately $3,297,441.64. The trade was a 49.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Mcnab sold 1,595 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $37.37, for a total transaction of $59,605.15. Following the transaction, the executive vice president directly owned 13,876 shares of the company’s stock, valued at approximately $518,546.12. This represents a 10.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on VIAV shares. Stifel Nicolaus lifted their price target on Viavi Solutions from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Susquehanna raised their price target on Viavi Solutions from $65.00 to $66.00 and gave the stock a “positive” rating in a report on Wednesday, July 1st. Rosenblatt Securities reiterated a “buy” rating and set a $70.00 price objective on shares of Viavi Solutions in a research report on Wednesday, August 19th. B. Riley Financial decreased their price target on Viavi Solutions from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Weiss Ratings lowered Viavi Solutions from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.88.

Viavi Solutions Stock Performance

Shares of VIAV opened at $38.78 on Thursday. The company has a market capitalization of $9.57 billion, a PE ratio of -258.52 and a beta of 1.21. 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 company’s 50 day moving average price is $41.60 and its 200 day moving average price is $40.76. Viavi Solutions Inc. has a 52 week low of $11.09 and a 52 week high of $60.43.

Viavi Solutions (NASDAQ:VIAV) last released its earnings results on Wednesday, August 5th. The communications equipment provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $443.10 million during the quarter, compared to the consensus estimate of $432.62 million. Viavi Solutions had a negative net margin of 2.00% and a positive return on equity of 19.60%. The company’s revenue was up 52.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 EPS. Viavi Solutions has set its Q1 2027 guidance at 0.400-0.420 EPS. Research analysts expect that Viavi Solutions Inc. will post 1.32 EPS for the current fiscal year.

Viavi Solutions 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.