Viavi Solutions
Tests and secures communications networks while supplying anti-counterfeiting pigments and sensing optics.
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Profile
Sells instruments, systems and software for testing, monitoring, securing and assuring communications, data-center and mission-critical networks, plus optical pigments and filters for anti-counterfeiting and sensing. The network segment generates most revenue, with demand tied to infrastructure investment and product-development cycles.
Builds test, monitoring, assurance and security systems for communications and data networks. Network and Service Enablement spans lab and production validation, fiber and wireless field instruments, service assurance, network observability, and resilient positioning, navigation and timing for telecom, cloud, semiconductor, enterprise, public-safety, aerospace and defense customers.
Optical Security and Performance Products supplies color-shifting pigments for banknotes and high-value documents, plus optical filters, coatings and diffusers for sensing, aerospace, automotive and industrial applications. The network segment generates most revenue, while optical products remain a distinct business. Sales are global, with the Americas the largest region.
A broad portfolio links lab validation to field deployment and live-network operations. Demand follows customer infrastructure and product cycles; production also relies on some sole- or limited-source components and contract manufacturers in Asia.
Company facts
Categories
Key statistics
Year to date +101% · Average volume (30d) 4.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | Needham | Reiterate | Buy | $28 | $60 |
| Jul 1, 2026 | Susquehanna | Reiterate | Positive | $18 | $66 |
| Apr 20, 2026 | Northland Securities | Target | $27.50 | $50 | |
| Jan 29, 2026 | Northland Securities | Target | $27.50 | ||
| Jan 29, 2026 | Stifel Nicolaus | Target | $20 | $24 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q4 FY26 | $0.30 | $0.34 | +14.1% | $432.6M | $443.1M | +2.4% | +4.34% |
| Apr 29, 2026Q3 FY26 | $0.24 | $0.27 | +12.5% | $393.8M | $406.8M | +3.3% | +15.09% |
| Jan 28, 2026Q2 FY26 | $0.19 | $0.22 | +15.8% | $365.3M | $369.3M | +1.1% | +17.45% |
| Oct 29, 2025Q1 FY26 | $0.13 | $0.15 | +15.4% | $301.8M | $299.1M | −0.9% | +22.32% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $284.8M | $290.5M | $299.1M | $369.3M | $406.8M | $443.1M | |
| Gross profit | $159.5M | $162.0M | $167.5M | $204.3M | $226.7M | $276.9M | |
| Operating income | $24.0M | $17.3M | $22.1M | $29.9M | $42.1M | $11.0M | |
| Net income | $19.5M | $8.0M | −$21.4M | −$48.1M | $6.4M | $32.7M | |
| Diluted EPS | $0.09 | $0.04 | −$0.10 | −$0.21 | $0.03 | $0.15 | |
| Gross margin | 56.0% | 55.8% | 56.0% | 55.3% | 55.7% | 62.5% | |
| Operating margin | 8.4% | 6.0% | 7.4% | 8.1% | 10.3% | 2.5% |
Fiscal years (4-quarter sums)FY22 $1.29B · FY23 $1.11B · FY24 $1.00B · FY25 $1.08B · FY26 $1.52B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $649.8M · Total debt $698.8M · Total assets $2.71B · Shareholders' equity $1.45B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 246.69M · Float 231.50M · 93.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 25.73M | 10.43% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 13.62M | 5.52% | 13F | Aug 13, 2026 |
| Price T Rowe Associates Inc /MD/ | 11.13M | 4.51% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 10.90M | 4.42% | 13F | Aug 13, 2026 |
| Jane Street Group, LLC | 9.29M | 3.77% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Laura A. Black | director | −71,000 | $46.12 |
| Aug 14, 2026 | Joanne Solomon | director | −10,000 | $42.92 |
| Aug 10, 2026 | Paul McNab | officer: EVP, Chief Mktg & Stgy Officer | −1,595 | $37.37 |
| May 8, 2026 | Oleg Khaykin | director, officer: President & CEO | −136,547 | $51.82 |
| May 7, 2026 | Oleg Khaykin | director, officer: President & CEO | −123,333 | $51.43 |
Peers
- Keysight Technologies
Dominant T&M peer; competes across all NSE end-markets after acquiring Spirent.
- NETSCOUT Systems
Deep-packet NPM and DDoS rival; nGeniusONE vs VIAVI Observer/NITRO.
- Crane NXT
Banknote micro-optics rival; competes with VIAVI OSP color-shift pigments.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Viavi Solutions | $36.96 | +1.18% | $9.01B | — | 22.7 | 5.9 | +52.5% |
| Keysight Technologies | $319.97 | +0.09% | $54.68B | 44.1 | 24.0 | 8.3 | +36.5% |
| NETSCOUT Systems | $39.06 | −0.05% | $2.84B | 23.7 | 14.3 | 3.2 | +12.7% |
| Crane NXT | $50.13 | −0.03% | $2.88B | 20.7 | 11.2 | 1.6 | +22.0% |
| Median | 23.7 | 14.3 | 3.2 | +22.0% |