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VIAV Viavi Solutions

VIAVI is a global provider of network test, monitoring and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. We help these customers harness the power of instruments, automation, intelligence and virtualization to Command the network. VIAVI is also a leader in light management solutions for 3D sensing, anti-counterfeiting, consumer electronics, industrial, automotive, and defense applications.

Company profile

Ticker
VIAV
Exchange
CEO
Oleg Khaykin
Employees
Incorporated
Location
Fiscal year end
Former names
JDS UNIPHASE CORP /CA/, UNIPHASE CORP /CA/
SEC CIK
IRS number
942579683

VIAV stock data

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Calendar

9 Feb 21
13 Apr 21
3 Jul 21
Quarter (USD)
Jan 21 Oct 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Apr 21 Richard Belluzzo Common Stock Sell Dispose S No Yes 16.23 2,450 39.76K 219,005
8 Mar 21 Luke M Scrivanich Common Stock Sell Dispose S No No 15.5 6,421 99.53K 48,298
2 Mar 21 Gary W Staley Common Stock Sell Dispose S No Yes 16.49 1,722 28.4K 71,315
28 Feb 21 Gary W Staley Common Stock Payment of exercise Dispose F No No 16.19 1,236 20.01K 73,037
28 Feb 21 Gary W Staley Common Stock Option exercise Aquire M No No 0 3,141 0 74,273
28 Feb 21 Gary W Staley Common Stock Payment of exercise Dispose F No No 16.19 976 15.8K 71,132
28 Feb 21 Gary W Staley Common Stock Option exercise Aquire M No No 0 2,513 0 72,108
28 Feb 21 Gary W Staley Performance Stock Units Common Stock Grant Aquire A No No 0 37,500 0 37,500
28 Feb 21 Gary W Staley RSU Common Stock Grant Aquire A No No 0 37,500 0 37,500
28 Feb 21 Gary W Staley RSU Common Stock Option exercise Dispose M No No 0 3,141 0 18,844

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

94.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 311 289 +7.6%
Opened positions 57 37 +54.1%
Closed positions 35 52 -32.7%
Increased positions 86 92 -6.5%
Reduced positions 104 104
13F shares
Current Prev Q Change
Total value 42.6B 2.52B +1587.7%
Total shares 216.62M 215.04M +0.7%
Total puts 1.18M 864.8K +36.6%
Total calls 315.6K 1.87M -83.1%
Total put/call ratio 3.7 0.5 +707.6%
Largest owners
Shares Value Change
BLK Blackrock 34.81M $521.29M +4.1%
Vanguard 24M $359.42M +0.2%
GS Goldman Sachs 8.63M $129.29M +4.2%
Wellington Management 8.08M $120.97M +207.3%
STT State Street 7.13M $106.74M -1.6%
Victory Capital Management 5.94M $88.93M +93.4%
Capital World Investors 5.73M $85.84M 0.0%
MCQEF Macquarie 4.88M $73.14M -5.6%
Arrowstreet Capital, Limited Partnership 4.15M $62.14M -3.1%
Schroder Investment Management 4.04M $60.55M +276.0%
Largest transactions
Shares Bought/sold Change
Wellington Management 8.08M +5.45M +207.3%
JHG Janus Henderson 0 -3.07M EXIT
Norges Bank 2.99M +2.99M NEW
Schroder Investment Management 4.04M +2.97M +276.0%
Victory Capital Management 5.94M +2.87M +93.4%
Alyeska Investment 0 -1.87M EXIT
Westfield Capital Management 1.65M -1.81M -52.4%
AXAHF Axa 1.59M +1.59M NEW
Balyasny Asset Management 19.38K -1.43M -98.7%
BLK Blackrock 34.81M +1.36M +4.1%

Financial report summary

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Risks
  • The effects of the COVID-19 pandemic have significantly affected how we and our customers are operating our businesses, and the duration and extent to which this will impact our future results of operations and overall financial performance remains uncertain.
  • We have a history of net losses, and our future profitability is not assured.
  • Our operating results may be adversely affected by unfavorable economic and market conditions.
  • Rapid technological change in our industry presents us with significant risks and challenges, and if we are unable to keep up with the rapid changes, our customers may purchase less of our products which could adversely affect our operating results.
  • Unfavorable, uncertain or unexpected conditions in the transition to 5G may cause fluctuations in our rate of revenue growth or financial results.
  • Movement towards virtualized networks and software solutions may result in lower demand for our hardware products and increased competition.
  • Our forecasts related to our growth strategy in 3D Sensing and other applications may prove to be inaccurate.
  • Natural Disasters and Catastrophic Events
  • Certain of our products are subject to governmental and industry regulations, certifications and approvals.
  • Failure to maintain satisfactory compliance with certain privacy and data protections laws and regulations may subject us to substantial negative financial consequences and civil or criminal penalties.
  • We face risks related to our international operations and revenue.
  • Economic conditions and regulatory changes that may result from the United Kingdom’s exit from the European Union could adversely affect our business, financial condition and results of operations.
  • Certain provisions in our charter and under Delaware laws could hinder a takeover attempt.
  • Our actual operating results may differ significantly from our guidance.
  • Failure to maintain effective internal controls may adversely affect our stock price.
  • In March 2017, we issued $460.0 million of 1.00% Senior Convertible Notes due 2024, and in May 2018 we issued $225.0 million of 1.75% Senior Convertible Notes due 2023. The issuance of the Notes increases our overall leverage and could dilute our existing stockholders and lower our reported earnings per share.
  • Changes in the method of determining LIBOR, or the replacement of LIBOR with an alternative reference rate, may adversely affect interest rates on our future indebtedness and may otherwise adversely affect our financial condition and results of operations.
  • Our ability to use our net operating loss carryforwards to offset future taxable income may be subject to certain limitations.
  • We may not generate positive returns on our research and development strategy.
  • We rely on a limited number of customers for a significant portion of our sales.
  • Our business and operations could be adversely impacted in the event of a failure of our information technology infrastructure.
  • Our products may be subject to claims that they infringe the intellectual property rights of others.
  • The use of open source software in our products, as well as those of our suppliers, manufacturers and customers, may expose us to additional risks and harm our intellectual property position.
  • We face certain litigation risks that could harm our business.
  • We may be subject to environmental liabilities which could increase our expenses and harm our operating results.
  • Impairment in the carrying value of goodwill or other assets could negatively affect our results of operations or net worth.
  • Management transitions and talent retention create uncertainties and could harm our business.
  • We face a number of risks related to our strategic transactions.
Management Discussion
  • Revenue from our service offerings exceeds 10% of our total consolidated net revenue and is presented separately in our Consolidated Statements of Operations. Service revenue primarily consists of maintenance and support, extended warranty, training, professional services and post-contract support in addition to other services such as calibration and repair services. When evaluating the performance of our segments, management focuses on total net revenue, gross profit and operating income and not the product or service categories. Consequently, the following discussion of business segment performance focuses on total net revenue, gross profit, and operating income consistent with our approach for managing the business.
Content analysis
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Removed: agile, cancelable, NaN, newly, revalidation, transparency