Viavi Solutions Inc. announced that its Senior Vice President, Kevin Christopher Siebert, sold 24,225 shares of the company’s stock on December 8, 2023. The shares were sold at an average price of $18.26, resulting in a total transaction value of $442,348.50. Following this sale, Siebert holds 49,225 shares of Viavi, which are valued at approximately $898,848.50. This transaction marks a 32.98% decrease in his ownership stake.
The details of the sale were disclosed in a filing with the U.S. Securities and Exchange Commission (SEC). Siebert’s recent trading activity also includes the sale of 11,148 shares on November 3 for $192,748.92, and 9,927 shares on September 25 for $120,811.59.
Stock Performance and Market Position
On the same day as Siebert’s transaction, Viavi Solutions stock traded at $18.57, reflecting a mid-day increase of $0.25. The trading volume reached 3,700,372 shares, significantly higher than its average volume of 2,724,063. Over the past year, Viavi shares have experienced a low of $8.10 and a high of $18.90, with the company holding a market capitalization of $4.14 billion. The stock has a price-to-earnings ratio of 264.64 and a beta of 0.96, indicating its volatility relative to the market.
Viavi Solutions has established a sound financial position, with a debt-to-equity ratio of 0.88, a quick ratio of 1.74, and a current ratio of 1.99. The company’s 50-day simple moving average stands at $15.35, while the 200-day simple moving average is $12.19.
Institutional Investment Trends
Recent activity among institutional investors highlights a growing interest in Viavi Solutions. Arrowstreet Capital Limited Partnership increased its position by 431.1% during the third quarter, acquiring an additional 5,389,435 shares for a total of 6,639,682 shares, valued at approximately $84,258,000. Similarly, Aberdeen Group plc took a new position valued at around $20,110,000 during the same period.
Other notable transactions include Schroder Investment Management Group, which increased its holdings by 16.6%, bringing its total to 8,213,451 shares, and Millennium Management LLC, which boosted its stake by an impressive 772.9% to own 1,163,336 shares.
Currently, institutional investors and hedge funds collectively own approximately 95.54% of Viavi Solutions stock, underscoring the confidence in the company’s future prospects.
Analyst Ratings and Future Outlook
Wall Street analysts have expressed optimistic views regarding Viavi Solutions. On November 5, Argus raised its target price from $16.00 to $23.00 and assigned a “buy” rating. Meanwhile, UBS Group increased its target from $12.00 to $17.00, maintaining a “neutral” rating.
Other firms, including Stifel Nicolaus and B. Riley, have also upgraded their ratings and target prices, reflecting a general sentiment of growth around Viavi Solutions. Presently, the company holds an average rating of “Moderate Buy” from analysts, with a consensus price target of $16.89 according to MarketBeat.com.
Viavi Solutions, specializing in network testing, monitoring, and assurance solutions for communications providers, enterprises, and government sectors, continues to position itself strongly within the industry. Its diverse operational segments—Network Enablement, Service Enablement, and Optical Security and Performance—further enhance its market presence and growth potential.
