Key Points
- EVP Paul McNab sold 13,806 Viavi shares at an average $32.12, for about $443,449, reducing his stake by 23.07% to 46,026 shares.
- Viavi shares fell 5.6% on Friday to $30.72, while the article also notes a decline of 11.6% over the prior month.
- The company beat quarterly earnings and revenue estimates, with revenue up 56.9% year over year; analysts’ consensus rating was Moderate Buy, with an average price target of $57.83.
Viavi Solutions Inc. (NASDAQ:VIAV - Get Free Report) EVP Paul McNab sold 13,806 shares of the business's stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $32.12, for a total value of $443,448.72. Following the sale, the executive vice president owned 46,026 shares of the company's stock, valued at approximately $1,478,355.12. This represents a 23.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Paul Mcnab also recently made the following trade(s):
- On Friday, September 11th, Paul McNab sold 11,032 shares of Viavi Solutions stock. The stock was sold at an average price of $38.97, for a total value of $429,917.04.
Viavi Solutions Stock Down 5.6%
Shares of VIAV traded down $1.82 during trading hours on Friday, reaching $30.72. The stock had a trading volume of 5,109,325 shares, compared to its average volume of 6,828,286. The firm has a 50-day simple moving average of $36.34 and a 200 day simple moving average of $38.94. Viavi Solutions Inc. has a 12 month low of $15.51 and a 12 month high of $60.43. The company has a current ratio of 1.65, a quick ratio of 1.40 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of 128.01, a P/E/G ratio of 1.47 and a beta of 1.31.
Viavi Solutions (NASDAQ:VIAV - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The communications equipment provider reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. Viavi Solutions had a net margin of 3.97% and a return on equity of 25.36%. The business had revenue of $469.30 million during the quarter, compared to analyst estimates of $455.06 million. During the same quarter in the previous year, the business posted $0.15 EPS. Viavi Solutions's quarterly revenue was up 56.9% on a year-over-year basis. Equities research analysts predict that Viavi Solutions Inc. will post 1.84 earnings per share for the current fiscal year.
Institutional Trading of Viavi Solutions
Several institutional investors have recently made changes to their positions in VIAV. BlackRock Inc. purchased a new stake in shares of Viavi Solutions in the second quarter valued at about $1,228,529,000. Assenagon Asset Management S.A. lifted its position in shares of Viavi Solutions by 1,402.9% during the third quarter. Assenagon Asset Management S.A. now owns 5,639,752 shares of the communications equipment provider's stock valued at $236,418,000 after purchasing an additional 5,264,496 shares in the last quarter. Bank of America Corp DE purchased a new position in Viavi Solutions during the second quarter worth about $134,922,000. Allspring Global Investments Holdings LLC purchased a new position in Viavi Solutions during the first quarter worth about $75,294,000. Finally, Bank of New York Mellon Corp bought a new stake in Viavi Solutions in the 2nd quarter worth about $87,914,000. Institutional investors own 95.54% of the company's stock.
Key Headlines Impacting Viavi Solutions
Here are a few of the latest headlines about VIAV:
- Positive Sentiment: Viavi was upgraded to Zacks Rank #1 (Strong Buy), reflecting improving earnings expectations. Viavi Solutions upgraded to Strong Buy
- Negative Sentiment: EVP Paul McNab sold 13,806 shares for about $443,449, reducing his holdings by roughly 23%. The sale could weigh on sentiment, though an insider transaction alone does not establish the executive’s outlook for the company. SEC filing
- Negative Sentiment: Despite strong reported growth, Viavi’s shares had fallen 11.6% over the past month, and coverage flags valuation and execution risks as potential constraints on the stock. Growth and valuation risks
Analyst Upgrades and Downgrades
VIAV has been the subject of several recent research reports. Zacks Research raised shares of Viavi Solutions from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Wall Street Zen raised shares of Viavi Solutions from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 7th. Needham & Company LLC dropped their price target on shares of Viavi Solutions from $60.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, November 5th. B. Riley Financial cut 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, UBS Group cut their price target on Viavi Solutions from $44.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.83.
Read Our Latest Stock Report on VIAV
Viavi Solutions Company Profile
(
Get Free Report)
Viavi Solutions Inc. develops testing, monitoring and assurance solutions for communications networks. Its products and software help service providers, equipment makers and enterprises build, maintain and troubleshoot fiber-optic, broadband, wireless and other network infrastructure, including technologies used in 5G and data centers. The company also makes optical technologies and security products, including features used to authenticate banknotes, identity documents and branded goods. These offerings support applications in areas such as anti-counterfeiting, document security and optical coatings.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
