Viavi Solutions Sees Unusually High Options Volume (VIAV)

Viavi Solutions Inc (NASDAQ:VIAV) saw unusually large options trading activity on Wednesday. Stock investors purchased 6,324 call options on the stock. This represents an increase of 3,110% compared to the average volume of 197 call options.

Hedge funds have recently added to or reduced their stakes in the business. 361 Capital LLC purchased a new stake in shares of Viavi Solutions during the first quarter valued at about $2,877,000. Arizona State Retirement System lifted its position in shares of Viavi Solutions by 7.0% during the fourth quarter. Arizona State Retirement System now owns 351,767 shares of the communications equipment provider’s stock valued at $3,535,000 after buying an additional 22,892 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Viavi Solutions by 28.9% during the fourth quarter. Prudential Financial Inc. now owns 510,902 shares of the communications equipment provider’s stock valued at $5,135,000 after buying an additional 114,643 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Viavi Solutions by 11.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,472,725 shares of the communications equipment provider’s stock valued at $24,851,000 after buying an additional 247,285 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its position in shares of Viavi Solutions by 69.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,993,944 shares of the communications equipment provider’s stock valued at $20,039,000 after buying an additional 818,549 shares during the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.

Several research analysts have issued reports on VIAV shares. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Viavi Solutions in a report on Sunday, February 10th. Zacks Investment Research upgraded shares of Viavi Solutions from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Saturday, February 9th. BidaskClub cut shares of Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 13th. TheStreet cut shares of Viavi Solutions from a “b-” rating to a “c+” rating in a report on Monday. Finally, ValuEngine cut shares of Viavi Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Viavi Solutions presently has an average rating of “Buy” and a consensus target price of $13.33.

Shares of Viavi Solutions stock opened at $12.67 on Friday. The company has a current ratio of 3.19, a quick ratio of 2.86 and a debt-to-equity ratio of 0.79. Viavi Solutions has a 1 year low of $9.17 and a 1 year high of $14.00. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 37.26 and a beta of 0.98.

Viavi Solutions (NASDAQ:VIAV) last released its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The business had revenue of $265.20 million during the quarter, compared to analyst estimates of $259.86 million. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities research analysts forecast that Viavi Solutions will post 0.53 earnings per share for the current fiscal year.

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Viavi Solutions Company Profile

Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments.

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