Jabbar Masood, a director at Viavi Solutions Inc. (NASDAQ:VIAV), has sold 15,000 shares of the company's common stock. The transaction, executed on December 16, was conducted under a Rule 10b5-1 trading plan dated May 15, 2024. The sale comes as VIAV trades near its 52-week high of $11.49, having gained nearly 49% over the past six months according to InvestingPro data. The shares were sold at a weighted average price of $11.16, amounting to a total of $167,400. Following this sale, Masood retains ownership of 210,333 shares in the company.
The sale was executed in multiple trades, with prices ranging from $10.97 to $11.36. Masood has committed to providing detailed information about the transaction to the SEC, Viavi Solutions, or any security holder upon request.
In other recent news, Viavi Solutions has announced a strategic acquisition of Inertial Labs, a deal valued at $325 million. This acquisition is expected to contribute approximately $50 million to Viavi's Network and Service Enablement revenue in 2025 and to enhance earnings per share within 12 months of closing. Stifel, a financial services firm, has maintained a Buy rating on Viavi's stock, indicating potential upside from this acquisition.
Viavi Solutions also reported a net revenue of $252 million for the fourth quarter of 2024, with a restructuring plan aiming for annualized cost savings of approximately $25 million by the end of fiscal 2025. The company has also entered an agreement with Telefónica Hispanoamérica to supply automated network inventory management tools and launched a new Ethernet testing module, the ONE-1600.
Analysts at UBS and Rosenblatt have given Viavi Solutions a neutral rating, with Rosenblatt increasing the price target to $10.50 from the previous $8.25. UBS projects that Viavi will return to mid-single digit growth by fiscal year 2026, driven by increased investment spending by Communication Service Providers. These are among the recent developments shaping Viavi Solutions' operations and outlook.
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