Viavi Solutions Inc [NASDAQ: VIAV] gained 12.54% or 1.22 points to close at $10.95 with a heavy trading volume of 7038887 shares. The company report on March 5, 2024 at 2:20 AM that VIAVI Solutions Agrees to Acquire Spirent Communications to Create a Leading Provider of Test, Assurance and Security Solutions for Research and Development Labs, Service Providers, Data Centers and Mission-Critical Infrastructure.
Highly complementary and synergistic product portfolios to enable delivery of high-performance, integrated solutions for networking and mission-critical applications, including 5G and 6G wireless infrastructure.
Complementary nature of products and technologies to provide diversification and accelerated growth in attractive, adjacent verticals, such as cloud service providers, enterprise/IT networks, 5G private networks, 6G+ and positioning, navigation and timing verticals.
The daily chart for VIAV points out that the company has recorded 4.29% gains over the past six months.
If we look at the average trading volume of 2.08M shares, VIAV reached to a volume of 7038887 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $12.17 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 1.75. 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 Buy, with their previous recommendation back on February 12, 2024. While these analysts kept the previous recommendation, Stifel raised their target price to Hold. The new note on the price target was released on December 02, 2022, representing the official price target for Viavi Solutions Inc stock. Previously, the target price had yet another drop from $21 to $14.50, while B. Riley Securities kept a Neutral rating on VIAV stock.
The Average True Range (ATR) for Viavi Solutions Inc is set at 0.38, with the Price to Sales ratio for VIAV stock in the period of the last 12 months amounting to 2.40. The Price to Book ratio for the last quarter was 3.35, with the Price to Cash per share for the same quarter was set at 2.57. Price to Free Cash Flow for VIAV in the course of the last twelve months was 29.98 with Quick ratio for the last quarter at 2.72.
Trading performance analysis for VIAV stock
Viavi Solutions Inc [VIAV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.71. With this latest performance, VIAV shares gained by 15.38% in over the last four-week period, additionally plugging by 4.29% over the last 6 months – not to mention a rise of 2.24% 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 69.80, with the RSI for the last a single of trading hit 77.55, and the three-weeks RSI is set at 65.47 for Viavi Solutions Inc [VIAV]. The present Moving Average for the last 50 days of trading for this stock 9.76, while it was recorded at 9.88 for the last single week of trading, and 9.59 for the last 200 days.
Viavi Solutions Inc [VIAV]: A deeper dive into fundamental analysis
Viavi Solutions Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.72 and a Current Ratio set at 3.09.
Viavi Solutions Inc [VIAV]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Viavi Solutions Inc posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.10%. 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%.
An analysis of Institutional ownership at Viavi Solutions Inc [VIAV]
The top three institutional holders of VIAV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VIAV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VIAV stock with ownership which is approximately 5.8325%.
