Viavi Solutions Inc. [NASDAQ: VIAV] stock went on an upward path that rose over 2.72% on Thursday, amounting to a one-week price decrease of less than -3.61%. The company report on November 17, 2022 that VIAVI Expands U.S. Manufacturing Capacity and Boosts Arizona Economy With Opening of New Optical Production Facility.
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Viavi Solutions Inc. (VIAVI) (NASDAQ: VIAV) today announced it has opened its new production facility in Chandler, Arizona. The company has added to U.S. manufacturing capacity as it has grown its presence in the state, including the move of its global headquarters.
Since preparations to move its global headquarters from California began in 2021, the company has already made significant contributions to the business and technology community. VIAVI President and CEO, Oleg Khaykin, has been elected to Greater Phoenix Leadership; the company has established a scholarship at the University of Arizona’s Wyant College of Optical Sciences, and the company has also contributed to Chandler’s reclaimed water program.
Over the last 12 months, VIAV stock dropped by -32.11%. The one-year Viavi Solutions Inc. stock forecast points to a potential upside of 23.75. The average equity rating for VIAV stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.53 billion, with 226.30 million shares outstanding and 223.69 million shares in the current float. Compared to the average trading volume of 1.83M shares, VIAV stock reached a trading volume of 2962558 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Viavi Solutions Inc. [VIAV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VIAV shares is $14.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VIAV stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Stifel have made an estimate for Viavi Solutions Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 02, 2022. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $21 to $14.50. The new note on the price target was released on November 04, 2022, representing the official price target for Viavi Solutions Inc. stock. Previously, the target price had yet another raise to $18, while Rosenblatt analysts kept a Buy rating on VIAV stock.
The Average True Range (ATR) for Viavi Solutions Inc. is set at 0.48, with the Price to Sales ratio for VIAV stock in the period of the last 12 months amounting to 1.98. The Price to Book ratio for the last quarter was 3.82, with the Price to Cash per share for the same quarter was set at 2.23. Price to Free Cash Flow for VIAV in the course of the last twelve months was 31.68 with Quick ratio for the last quarter at 2.50.
VIAV Stock Performance Analysis:
Viavi Solutions Inc. [VIAV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.61. With this latest performance, VIAV shares gained by 2.62% in over the last four-week period, additionally sinking by -24.01% over the last 6 months – not to mention a drop of -32.11% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VIAV stock in for the last two-week period is set at 40.64, with the RSI for the last a single of trading hit 43.66, and the three-weeks RSI is set at 39.94 for Viavi Solutions Inc. [VIAV]. The present Moving Average for the last 50 days of trading for this stock 12.59, while it was recorded at 10.86 for the last single week of trading, and 14.13 for the last 200 days.
Insight into Viavi Solutions Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Viavi Solutions Inc. [VIAV] shares currently have an operating margin of +14.33 and a Gross Margin at +59.10. Viavi Solutions Inc.’s Net Margin is presently recorded at +1.20.
Return on Equity for this stock inclined to 2.14, with Return on Assets sitting at 0.82.
Viavi Solutions Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.90.
VIAV Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VIAV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Viavi Solutions Inc. go to 15.00%.
Viavi Solutions Inc. [VIAV] Insider Position Details
There are presently around $2,301 million, or 98.40% of VIAV stock, in the hands of institutional investors. The top three institutional holders of VIAV stocks are: BLACKROCK INC. with ownership of 36,290,459, which is approximately 1.643% of the company’s market cap and around 1.10% of the total institutional ownership; VANGUARD GROUP INC, holding 26,125,498 shares of the stock with an approximate value of $286.07 million in VIAV stocks shares; and WELLINGTON MANAGEMENT GROUP LLP, currently with $152.83 million in VIAV stock with ownership of nearly -30.983% of the company’s market capitalization.
Positions in Viavi Solutions Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 150 institutional holders increased their position in Viavi Solutions Inc. [NASDAQ:VIAV] by around 11,985,442 shares. Additionally, 136 investors decreased positions by around 22,586,344 shares, while 70 investors held positions by with 175,604,460 shares. The mentioned changes placed institutional holdings at 210,176,246 shares, according to the latest SEC report filing. VIAV stock had 40 new institutional investments in for a total of 2,222,950 shares, while 36 institutional investors sold positions of 2,469,144 shares during the same period.