VIAVI SOLUTIONS INC.
VIAV · Semiconductors & Related Devices · 233.9M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $33M (gross $84M, SBC $51M)
Reference price $51.82 · est. market cap ~$12.1B — last insider sale, 2026-05-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C56Network-test maker with strong gross margin but an earnings swing to loss and thin liquidity.
Strengths
- High gross margin — 57.3% (80th)
- Positive FCF — $62.0M (46th)
Risks
- Net income swing — -234.9% (8th), net margin 3.2%
- Thin liquidity — current ratio 1.50 (11th pct)
- Geopolitical/telecom-capex exposure per risk factors — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $428M cash & investments
- Insider sellingInsider selling — 33 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$41M, last 6mo) Form 4 ↗
- AccumulatingInstitutional holders rose 11→13 QoQ (2025-12-31→2026-03-31)
- Notable holderHeld by 6 notable fund(s): STATE STREET CORP, FMR LLC, GOLDMAN SACHS GROUP INC +3 more (as of 2026-03-31)
- New fund positionNotable fund(s) opened this quarter: Bridgewater Associates, LP
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
57.3%
Operating margin
5.3%
Net margin
3.2%
Return on equity
4.5%
Return on assets
1.7%
Revenue growth (QoQ)
10.2%
Current ratio
1.5×
Free cash flow
$62M
Tangible book value
$53M
Cash & investments
$428M
Stock comp / revenue
4.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-28 | Petrucci Anthony Michael | Option exercise | 7.3K | — |
| 2026-05-28 | Petrucci Anthony Michael | Option exercise | 9.0K | — |
| 2026-05-28 | Petrucci Anthony Michael | Tax withheld | 2.2K | $48.49 |
| 2026-05-28 | Petrucci Anthony Michael | Tax withheld | 1.8K | $48.49 |
| 2026-05-08 | KHAYKIN OLEG | Sell | 137K | $51.82 |
| 2026-05-07 | KHAYKIN OLEG | Sell | 123K | $51.43 |
| 2026-05-06 | SCRIVANICH LUKE M | Sell | 7.3K | $53.00 |
| 2026-05-06 | SCRIVANICH LUKE M | Sell | 3.4K | $53.00 |
| 2026-05-06 | KHAYKIN OLEG | Sell | 34K | $54.07 |
| 2026-05-05 | KHAYKIN OLEG | Sell | 20K | $54.77 |
| 2026-05-05 | McNab Paul | Sell | 2.7K | $54.96 |
| 2026-05-05 | Gilstrap Doug | Sell | 10K | $55.00 |
| 2026-05-05 | KHAYKIN OLEG | Sell | 105K | $54.61 |
| 2026-05-04 | BELLUZZO RICHARD | Sell | 51K | $53.30 |
| 2026-05-04 | Siebert Kevin Christopher | Sell | 8.3K | $54.02 |
| 2026-04-29 | KHAYKIN OLEG | Gift | 5.6K | — |
| 2026-03-02 | Siebert Kevin Christopher | Sell | 7.3K | $34.78 |
| 2026-03-02 | McNab Paul | Sell | 3.6K | $32.89 |
| 2026-02-26 | COLVIN DONALD A | Sell | 25K | $29.23 |
| 2026-02-18 | BELLUZZO RICHARD | Sell | 16K | $26.85 |
| 2026-02-17 | BELLUZZO RICHARD | Sell | 13K | $26.45 |
| 2026-02-13 | SCRIVANICH LUKE M | Sell | 14K | $26.59 |
| 2026-02-10 | KHAYKIN OLEG | Sell | 43K | $27.50 |
| 2026-02-10 | KHAYKIN OLEG | Sell | 20K | $27.51 |
| 2026-02-09 | KHAYKIN OLEG | Sell | 73K | $26.25 |
| 2026-02-06 | KHAYKIN OLEG | Sell | 41K | $26.25 |
| 2026-02-06 | KHAYKIN OLEG | Sell | 30K | $26.30 |
| 2026-02-05 | Staley Gary W | Sell | 1.3K | $23.93 |
| 2026-02-05 | Staley Gary W | Sell | 23K | $23.93 |
| 2026-02-05 | KHAYKIN OLEG | Sell | 70K | $24.50 |
| 2026-02-04 | Staley Gary W | Sell | 3.5K | $26.14 |
| 2026-02-04 | KHAYKIN OLEG | Sell | 74K | $26.48 |
| 2026-02-04 | Staley Gary W | Sell | 19K | $26.14 |
| 2026-02-03 | Staley Gary W | Sell | 21K | $25.92 |
| 2026-02-02 | Staley Gary W | Sell | 5.6K | $25.85 |
| 2026-02-02 | Staley Gary W | Sell | 17K | $25.82 |
| 2026-02-02 | McNab Paul | Sell | 4.6K | $25.80 |
| 2026-02-02 | Siebert Kevin Christopher | Sell | 14K | $25.72 |
| 2025-12-10 | Burns Richard John | Sell | 3.4K | $18.76 |
| 2025-12-10 | Corrales Eugenia | Sell | 3.4K | $18.76 |
| 2025-12-08 | Siebert Kevin Christopher | Sell | 24K | $18.26 |
| 2025-12-05 | KHAYKIN OLEG | Sell | 40K | $17.50 |
| 2025-12-04 | KHAYKIN OLEG | Sell | 38K | $17.60 |
| 2025-12-03 | KHAYKIN OLEG | Sell | 35K | $17.10 |
| 2025-12-02 | Daskal Ilan | Sell | 40K | $17.42 |
| 2025-12-02 | Daskal Ilan | Sell | 105K | $17.43 |
| 2025-12-02 | KHAYKIN OLEG | Sell | 9.9K | $17.81 |
| 2025-12-02 | Daskal Ilan | Sell | 25K | $17.84 |
| 2025-12-02 | KHAYKIN OLEG | Sell | 59K | $17.76 |
| 2025-12-01 | KHAYKIN OLEG | Sell | 44K | $17.64 |
| 2025-12-01 | KHAYKIN OLEG | Sell | 41K | $17.62 |
| 2025-11-28 | Daskal Ilan | Option exercise | 63K | — |
| 2025-11-28 | Daskal Ilan | Tax withheld | 30K | $17.94 |
| 2025-11-28 | Daskal Ilan | Option exercise | 38K | — |
| 2025-11-28 | Daskal Ilan | Tax withheld | 17K | $17.94 |
| 2025-11-28 | Daskal Ilan | Tax withheld | 28K | $17.94 |
| 2025-11-28 | Daskal Ilan | Option exercise | 36K | — |
| 2025-11-28 | Daskal Ilan | Tax withheld | 16K | $17.94 |
| 2025-11-28 | Daskal Ilan | Option exercise | 66K | — |
| 2025-11-26 | McNab Paul | Sell | 1.7K | $18.14 |
| 2025-11-10 | BARNES KEITH | Sell | 98K | $18.17 |
| 2025-11-10 | BARNES KEITH | Sell | 24K | $18.22 |
| 2025-11-07 | Black Laura A. | Option exercise | 24K | — |
| 2025-11-07 | Solomon Joanne | Option exercise | 24K | — |
| 2025-11-07 | JABBAR MASOOD | Option exercise | 24K | — |
| 2025-11-07 | Gilstrap Doug | Option exercise | 24K | — |
| 2025-11-07 | Corrales Eugenia | Option exercise | 6.8K | — |
| 2025-11-07 | COLVIN DONALD A | Option exercise | 24K | — |
| 2025-11-07 | Burns Richard John | Option exercise | 6.8K | — |
| 2025-11-07 | BELLUZZO RICHARD | Option exercise | 24K | — |
| 2025-11-07 | BARNES KEITH | Option exercise | 24K | — |
| 2025-11-04 | COLVIN DONALD A | Sell | 23K | $16.98 |
| 2025-11-04 | COLVIN DONALD A | Sell | 17K | $17.24 |
| 2025-11-03 | SCRIVANICH LUKE M | Sell | 9.8K | $17.45 |
| 2025-11-03 | McNab Paul | Sell | 13K | $17.41 |
| 2025-11-03 | BARNES KEITH | Sell | 40K | $17.25 |
| 2025-11-03 | BARNES KEITH | Sell | 14K | $17.34 |
| 2025-11-03 | Siebert Kevin Christopher | Sell | 11K | $17.29 |
| 2025-10-01 | McNab Paul | Gift | 5.5K | — |
| 2025-10-01 | BELLUZZO RICHARD | Sell | 8.4K | $12.63 |
| 2025-09-25 | SCRIVANICH LUKE M | Sell | 9.0K | $12.17 |
| 2025-09-25 | Siebert Kevin Christopher | Sell | 9.9K | $12.17 |
| 2025-09-23 | KHAYKIN OLEG | Option exercise | 244K | — |
| 2025-09-23 | Staley Gary W | Option exercise | 6.6K | — |
| 2025-09-23 | Staley Gary W | Tax withheld | 2.6K | $12.41 |
| 2025-09-23 | Staley Gary W | Option exercise | 14K | — |
| 2025-09-23 | Staley Gary W | Tax withheld | 5.4K | $12.41 |
| 2025-09-23 | Staley Gary W | Option exercise | 28K | — |
| 2025-09-23 | Staley Gary W | Tax withheld | 11K | $12.41 |
| 2025-09-23 | Siebert Kevin Christopher | Option exercise | 4.6K | — |
| 2025-09-23 | Siebert Kevin Christopher | Tax withheld | 1.4K | $12.41 |
| 2025-09-23 | Siebert Kevin Christopher | Option exercise | 9.6K | — |
| 2025-09-23 | Siebert Kevin Christopher | Tax withheld | 2.9K | $12.41 |
| 2025-09-23 | Siebert Kevin Christopher | Option exercise | 20K | — |
| 2025-09-23 | Siebert Kevin Christopher | Tax withheld | 6.3K | $12.41 |
| 2025-09-23 | SCRIVANICH LUKE M | Option exercise | 5.9K | — |
| 2025-09-23 | SCRIVANICH LUKE M | Tax withheld | 3.0K | $12.41 |
| 2025-09-23 | SCRIVANICH LUKE M | Option exercise | 12K | — |
| 2025-09-23 | SCRIVANICH LUKE M | Tax withheld | 6.3K | $12.41 |
| 2025-09-23 | SCRIVANICH LUKE M | Option exercise | 25K | — |
| 2025-09-23 | SCRIVANICH LUKE M | Tax withheld | 13K | $12.41 |
| 2025-09-23 | McNab Paul | Option exercise | 5.6K | — |
| 2025-09-23 | McNab Paul | Tax withheld | 2.9K | $12.41 |
| 2025-09-23 | McNab Paul | Option exercise | 12K | — |
| 2025-09-23 | McNab Paul | Tax withheld | 5.9K | $12.41 |
| 2025-09-23 | McNab Paul | Option exercise | 24K | — |
| 2025-09-23 | McNab Paul | Tax withheld | 12K | $12.41 |
| 2025-09-23 | Daskal Ilan | Option exercise | 71K | — |
| 2025-09-23 | Daskal Ilan | Tax withheld | 32K | $12.41 |
| 2025-09-23 | KHAYKIN OLEG | Option exercise | 48K | — |
| 2025-09-23 | KHAYKIN OLEG | Tax withheld | 21K | $12.41 |
| 2025-09-23 | KHAYKIN OLEG | Option exercise | 100K | — |
| 2025-09-23 | KHAYKIN OLEG | Tax withheld | 43K | $12.41 |
| 2025-09-23 | KHAYKIN OLEG | Tax withheld | 104K | $12.41 |
| 2025-09-10 | McNab Paul | Gift | 3.2K | — |
| 2025-09-09 | McNab Paul | Gift | 3.1K | — |
| 2025-09-02 | BELLUZZO RICHARD | Sell | 8.4K | $11.34 |
| 2025-08-29 | Siebert Kevin Christopher | Sell | 13K | $11.18 |
| 2025-08-29 | SCRIVANICH LUKE M | Sell | 12K | $11.18 |
| 2025-08-28 | KHAYKIN OLEG | Option exercise | 127K | — |
| 2025-08-28 | KHAYKIN OLEG | Tax withheld | 54K | $11.27 |
| 2025-08-28 | Siebert Kevin Christopher | Option exercise | 8.2K | — |
| 2025-08-28 | Siebert Kevin Christopher | Tax withheld | 2.5K | $11.27 |
| 2025-08-28 | Siebert Kevin Christopher | Option exercise | 11K | — |
| 2025-08-28 | Siebert Kevin Christopher | Tax withheld | 3.2K | $11.27 |
| 2025-08-28 | Siebert Kevin Christopher | Option exercise | 15K | — |
| 2025-08-28 | Staley Gary W | Option exercise | 12K | — |
| 2025-08-28 | Staley Gary W | Tax withheld | 4.6K | $11.27 |
| 2025-08-28 | Staley Gary W | Option exercise | 15K | — |
| 2025-08-28 | Staley Gary W | Tax withheld | 6.0K | $11.27 |
| 2025-08-28 | Staley Gary W | Option exercise | 22K | — |
| 2025-08-28 | Staley Gary W | Tax withheld | 8.7K | $11.27 |
| 2025-08-28 | SCRIVANICH LUKE M | Option exercise | 10K | — |
| 2025-08-28 | SCRIVANICH LUKE M | Tax withheld | 5.3K | $11.27 |
| 2025-08-28 | SCRIVANICH LUKE M | Option exercise | 14K | — |
| 2025-08-28 | SCRIVANICH LUKE M | Tax withheld | 6.9K | $11.27 |
| 2025-08-28 | SCRIVANICH LUKE M | Option exercise | 20K | — |
| 2025-08-28 | SCRIVANICH LUKE M | Tax withheld | 10K | $11.27 |
| 2025-08-28 | McNab Paul | Option exercise | 9.9K | — |
| 2025-08-28 | McNab Paul | Tax withheld | 5.0K | $11.27 |
| 2025-08-28 | McNab Paul | Option exercise | 13K | — |
| 2025-08-28 | McNab Paul | Tax withheld | 6.5K | $11.27 |
| 2025-08-28 | McNab Paul | Option exercise | 19K | — |
| 2025-08-28 | McNab Paul | Tax withheld | 9.5K | $11.27 |
| 2025-08-28 | Daskal Ilan | Option exercise | 55K | — |
| 2025-08-28 | Daskal Ilan | Tax withheld | 25K | $11.27 |
| 2025-08-28 | Siebert Kevin Christopher | Tax withheld | 4.6K | $11.27 |
| 2025-08-28 | KHAYKIN OLEG | Option exercise | 85K | — |
| 2025-08-28 | KHAYKIN OLEG | Tax withheld | 36K | $11.27 |
| 2025-08-28 | KHAYKIN OLEG | Option exercise | 111K | — |
| 2025-08-28 | KHAYKIN OLEG | Tax withheld | 47K | $11.27 |
| 2025-08-01 | BELLUZZO RICHARD | Sell | 8.4K | $9.72 |
| 2025-07-01 | BELLUZZO RICHARD | Sell | 8.4K | $10.02 |
| 2025-06-04 | Daskal Ilan | Sell | 82K | $9.28 |
| 2025-06-02 | BELLUZZO RICHARD | Sell | 8.4K | $9.03 |
| 2025-05-07 | BELLUZZO RICHARD | Sell | 8.4K | $8.92 |
| 2025-03-07 | Veler James L Jr | Sell | 14K | $10.86 |
| 2025-03-06 | McNab Paul | Gift | 4.5K | — |
| 2025-03-05 | McNab Paul | Sell | 9.0K | $11.09 |
| 2025-03-03 | SCRIVANICH LUKE M | Sell | 14K | $11.24 |
| 2025-03-03 | Siebert Kevin Christopher | Sell | 13K | $11.24 |
| 2025-03-01 | KHAYKIN OLEG | Option exercise | 122K | — |
| 2025-03-01 | KHAYKIN OLEG | Tax withheld | 52K | $11.18 |
| 2025-02-28 | Veler James L Jr | Option exercise | 25K | — |
| 2025-02-28 | KHAYKIN OLEG | Option exercise | 245K | — |
| 2025-02-28 | KHAYKIN OLEG | Tax withheld | 105K | $11.18 |
| 2025-02-28 | Veler James L Jr | Tax withheld | 11K | $11.18 |
| 2025-02-28 | Staley Gary W | Option exercise | 38K | — |
| 2025-02-28 | Staley Gary W | Tax withheld | 15K | $11.18 |
| 2025-02-28 | Siebert Kevin Christopher | Option exercise | 20K | — |
| 2025-02-28 | Siebert Kevin Christopher | Tax withheld | 6.5K | $11.18 |
| 2025-02-28 | SCRIVANICH LUKE M | Option exercise | 30K | — |
| 2025-02-28 | SCRIVANICH LUKE M | Tax withheld | 16K | $11.18 |
| 2025-02-28 | McNab Paul | Option exercise | 30K | — |
| 2025-02-28 | McNab Paul | Tax withheld | 16K | $11.18 |
| 2025-02-14 | KHAYKIN OLEG | Gift | 119K | — |
| 2025-02-14 | KHAYKIN OLEG | Gift | 119K | — |
| 2025-02-04 | BARNES KEITH | Sell | 15K | $12.24 |
| 2025-02-04 | McNab Paul | Sell | 4.9K | $12.19 |
| 2025-01-14 | JABBAR MASOOD | Sell | 30K | $10.01 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-21 | OtherExhibits | filing ↗ |
| 2026-05-18 | Exec/director change | filing ↗ |
| 2026-04-29 | ResultsExhibits | filing ↗ |
| 2026-01-28 | Results2.05Exhibits | filing ↗ |
| 2025-12-16 | Material agreement3.02Exhibits | filing ↗ |
| 2025-11-18 | 5.03Shareholder vote | filing ↗ |
| 2025-10-29 | ResultsExhibits | filing ↗ |
| 2025-10-16 | Material agreementDebt obligationOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-21 | 2026-05-19 | 0001140361-26-022337 ↗ |
| 8-K | 2026-05-18 | 2026-05-12 | 0001628280-26-035930 ↗ |
| 10-Q | 2026-04-30 | 2026-03-28 | 0001628280-26-028926 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001628280-26-028392 ↗ |
| 10-Q | 2026-01-29 | 2025-12-27 | 0001628280-26-004138 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0001628280-26-003845 ↗ |
| 8-K | 2025-12-16 | 2025-12-15 | 0001140361-25-045595 ↗ |
| 8-K | 2025-11-18 | 2025-11-12 | 0001628280-25-052859 ↗ |
| 10-Q | 2025-10-30 | 2025-09-27 | 0000912093-25-000153 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0000912093-25-000151 ↗ |
| 8-K | 2025-10-16 | 2025-10-16 | 0001140361-25-038266 ↗ |
| 8-K | 2025-08-25 | 2025-08-20 | 0001140361-25-032510 ↗ |