Notable News to Watch: Viavi Solutions Inc (NASDAQ: VIAV)

Viavi Solutions Inc (NASDAQ: VIAV) stock observed trading -2.31% off 52-week high price. On the other end, the stock has been noted 61.61% away from low price over the last 52-weeks. The stock disclosed a move of 4.62% away from 50 day moving average and 18.27% away from 200 day moving average. Moving closer, we can see that shares have been trading 6.45% off 20-day moving average. It has market cap of $3406.08M .

Viavi Solutions Inc (NASDAQ: VIAV) announced that its Board of Directors has authorized a stock repurchase program up to $200 million of the Company’s common stock through open market or private transactions before September 30, 2021.  This new stock repurchase program replaces the prior $200 million stock repurchase program announced by the Company that was set to expire on September 30, 2019, under which approximately $148.6 million were repurchased as of September 11, 2019.  The timing of repurchases under the new program will depend upon business and financial market conditions.

Business Outlook

For the fiscal first quarter 2020 ending September 28, 2019, the Company is raising its guidance revenue to $282 million to $294 million and non-GAAP earnings per share to $0.15 to $0.17 from the prior guidance range of $273 million to $293 million and from $0.14 to $0.16, respectively. The USA based company Viavi Solutions Inc. moved with change of 2.99% to $14.82 with the total traded volume of 3622737 shares in recent session versus to an average volume of 2128.99K. The stock was observed in the 5 days activity at 5.03%. The one month performance of stock was 4.81%. VIAV’s shares are at 14.71% for the quarter and driving a 31.62% return over the course of the past year and is now at 47.46% since this point in 2018.  Right now the stock beta is 1.11. The average volatility for the week and month was at 4.71% and 3.46% respectively. There are 229.83M shares outstanding and 227.28M shares are floated in market.

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