Viavi Solutions (NASDAQ:VIAV) Issues Quarterly Earnings Results

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

Viavi Solutions Stock Performance

VIAV stock traded down $0.46 on Friday, hitting $7.56. The company had a trading volume of 4,038,127 shares, compared to its average volume of 2,084,735. The company has a current ratio of 3.09, a quick ratio of 2.72 and a debt-to-equity ratio of 0.87. Viavi Solutions has a 12-month low of $7.10 and a 12-month high of $11.65. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 378.00 and a beta of 0.97. The stock’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $9.03.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VIAV shares. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Friday. Susquehanna downgraded shares of Viavi Solutions from a “positive” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Friday. Rosenblatt Securities dropped their target price on shares of Viavi Solutions from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, Northland Securities upped their price objective on Viavi Solutions from $12.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Insider Buying and Selling at Viavi Solutions

In related news, SVP Kevin Christopher Siebert sold 13,967 shares of the company’s stock in a transaction on Monday, March 11th. The stock was 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 $503,937.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Paul Mcnab sold 15,004 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.62, for a total transaction of $159,342.48. Following the completion of the sale, the executive vice president now owns 57,940 shares of the company’s stock, valued at approximately $615,322.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin Christopher Siebert sold 13,967 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 47,097 shares in the company, valued at $503,937.90. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

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.