Investors Purchase Large Volume of Viavi Solutions Call Options (NASDAQ:VIAV)

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Viavi Solutions Inc (NASDAQ:VIAV) was the target of some unusual options trading activity on Thursday. Traders bought 5,499 call options on the stock. This is an increase of 6,294% compared to the average volume of 86 call options.

In related news, CFO Amar Maletira sold 14,844 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $13.79, for a total value of $204,698.76. Following the sale, the chief financial officer now directly owns 254,526 shares of the company’s stock, valued at approximately $3,509,913.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 22,556 shares of company stock worth $307,093 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new position in Viavi Solutions during the 4th quarter worth approximately $23,704,000. Geode Capital Management LLC grew its stake in Viavi Solutions by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 2,548,290 shares of the communications equipment provider’s stock worth $25,610,000 after buying an additional 157,575 shares during the last quarter. Strs Ohio grew its stake in Viavi Solutions by 37.8% during the 1st quarter. Strs Ohio now owns 16,400 shares of the communications equipment provider’s stock worth $203,000 after buying an additional 4,500 shares during the last quarter. Columbus Circle Investors purchased a new position in Viavi Solutions during the 1st quarter worth approximately $11,993,000. Finally, Capital Investment Advisory Services LLC purchased a new position in Viavi Solutions during the 1st quarter worth approximately $68,000. 93.33% of the stock is currently owned by institutional investors.

Shares of VIAV stock opened at $13.77 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.86 and a current ratio of 3.19. The firm’s 50-day moving average is $14.22 and its 200-day moving average is $13.08. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 40.50 and a beta of 0.98. Viavi Solutions has a 52-week low of $9.17 and a 52-week high of $14.95.

Viavi Solutions (NASDAQ:VIAV) last issued its earnings results on Thursday, August 15th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. The company had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $279.18 million. Viavi Solutions had a negative net margin of 3.25% and a positive return on equity of 15.88%. Viavi Solutions’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. Sell-side analysts predict that Viavi Solutions will post 0.53 EPS for the current fiscal year.

VIAV has been the topic of several analyst reports. Morgan Stanley set a $13.00 price target on shares of Viavi Solutions and gave the stock a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised shares of Viavi Solutions from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $12.00 to $13.00 in a research report on Monday, April 22nd. Zacks Investment Research cut shares of Viavi Solutions from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. BidaskClub raised shares of Viavi Solutions from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Northland Securities set a $16.00 price target on shares of Viavi Solutions and gave the stock a “buy” rating in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Viavi Solutions currently has a consensus rating of “Buy” and a consensus price target of $14.00.

About Viavi Solutions

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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