Luke M. Scrivanich, Senior Vice President and General Manager of OSP at Viavi Solutions Inc. (NASDAQ:VIAV), has sold 2,802 shares of the company's common stock. The company, which has seen its stock surge 37% over the past six months according to InvestingPro data, maintains a strong liquidity position with a current ratio of 3.71. The transaction, which took place on December 11, 2024, was executed at a price of $10.43 per share, totaling $29,224. Following this sale, Scrivanich retains ownership of 54,517 shares. The shares were sold under a prearranged Rule 10b5-1 Stock Trading Plan, established on September 11, 2024. With analyst price targets ranging from $8 to $13, InvestingPro subscribers can access comprehensive insider trading analysis and 10+ additional investment tips for VIAV.
In other recent news, Viavi Solutions reported a net revenue of $252 million for the fourth quarter of 2024, marking a 2.4% sequential increase but a 4.4% decrease year-over-year. The full fiscal year revenue was a decline of 9.6% compared to the previous year. The company also introduced a restructuring plan targeting annualized cost savings of approximately $25 million by the end of fiscal 2025. For the first quarter of fiscal 2025, Viavi Solutions anticipates revenue to be in the range of $235 million to $245 million.
Rosenblatt adjusted the financial outlook for Viavi Solutions, lifting the price target to $10.50 from the previous $8.25, while maintaining a Neutral rating. UBS also initiated coverage on Viavi Solutions with a Neutral rating and a price target of $10.60, forecasting a 46% growth in earnings per share by fiscal year 2026.
Viavi Solutions has recently entered an agreement with Telefónica Hispanoamérica to supply automated network inventory management tools and launched a new Ethernet testing module, the ONE-1600. Furthermore, Viavi Solutions' shareholders approved the board and executive pay, ratifying the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for the fiscal year 2025. These are the recent developments for Viavi Solutions.
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