Viavi Solutions Inc. (NASDAQ:VIAV) saw an upside of 3.85% to close Tuesday at $10.52 after adding $0.39 on the day. The 5-day average trading volume is 2,004,780 shares of the company’s common stock. It has gained $10.53 in the past week and touched a new high 4 times within the past 5 days. An average of 1,803,805 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,876,308.
VIAV’s 1-month performance is -3.75% or -$0.60 on its low of $9.86 reached on 08/17/23. The company’s shares have touched a 52-week low of $8.52 and high of $15.44, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, VIAV has achieved 0.10% or $0.01 and has reached a new high 12 times. However, the current price is down -31.87% from the 52-week high price.
Insider Transactions
VIAV stock investors last saw insider trading activity on Feb 22.Staley Gary W (SVP Global Sales NSE) most recently sold 13,636 shares at $11.02 per share on Feb 22. This transaction cost the insider $150,269. SVP Global Sales NSE, Staley Gary W, sold 13,453 shares at a price of $11.16 on Feb 16. Then, on Feb 08, SVP Global Sales NSE Staley Gary W sold 13,216 shares at a price of $11.31 per share. This transaction amounted to $149,473.
Valuation Metrics
VIAV stock has a beta of 0.85. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.12 while the price-to-book (PB) in the most recent quarter is 3.46, with the price to cash flow ratio at 22.50.
Viavi Solutions Inc.’s quick ratio for the period ended June 29 was 2.10, with the current ratio over the same period at 2.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.94, while the total debt to equity was 1.18.. In terms of profitability, the gross margin trailing 12 months is 57.80%. The firm’s gross profit as reported stood at $638.8 million against revenue of $1.11 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 224.68% to -$15.4 million, while revenue of $8.4 million was 154.55% off the previous quarter. Analysts expected VIAV to announce $0.08 per share in earnings in its latest quarter, but it posted $0.1, representing a 25.00% surprise. EBITDA for the quarter stood at more than $31.6 million. VIAV stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 1.16 billion, with total debt at $781.2 million. Shareholders hold equity totaling $221.5 million.
Let’s look briefly at Viavi Solutions Inc. (VIAV) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 22 August was 51.50% to suggest the stock is trending Neutral, with historical volatility in this time period at 33.40%.
The stock’s 5-day moving average is $10.16, reflecting a +3.54% or $0.36 change from its current price. VIAV is currently trading -3.93% above its 20-day SMA, +0.29% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +7.46% and SMA200 by-27.90%.
Stochastic %K and %D was 34.11% and 24.47% and the average true range (ATR) pointed at 0.29. The RSI (14) points at 48.30%, while the 14-day stochastic is at 55.93% with the period’s ATR at 0.28. The stock’s 9-day MACD Oscillator is pointing at -0.01 and -0.22 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Viavi Solutions Inc. (NASDAQ: VIAV), Stifel launched coverage with a Hold rating. Analysts offering their rating for VIAV stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate VIAV as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 have offered a “buy” rating.
What is VIAV’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $10.00 and a high of $14.00, with their median price target at $12.00. Looking at these predictions, the average price target given by analysts is for Viavi Solutions Inc. (VIAV) stock is $12.10.
