VIAV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$39.59

Market Cap

$9.78B

P/E (TTM)

-304.5

EPS (TTM)

$-0.13

Revenue (TTM)

$1.52B

Div Yield

—

ROE

-2.7%

Debt/Equity

0.2

52W Range

$10 – $60

VIAV Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $1.52B

2018-06-30 → 2026-06-27

EPS $-0.13

2018-06-30 → 2026-06-27

Free Cash Flow $83M

2018-06-30 → 2026-06-27

Margins -2.0%

2018-06-30 → 2026-06-27

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

VIAV

Peer Median

P/E (TTM)

-304.5

31.1

P/S (TTM)

6.4

3.4

P/B

6.8

4.1

EV / EBITDA

89.2

—

Price / FCF

118.1

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

VIAV

Peer Median

Gross Margin

57.7%

57.1%

Operating Margin

6.9%

—

Net Profit Margin

-2.0%

6.8%

ROA

-1.3%

3.8%

ROE

-2.7%

13.1%

ROIC

-11.9%

—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

VIAV

Peer Median

Debt / Equity

0.2

0.0

Current Ratio

1.8

2.1

Quick Ratio

1.5

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

VIAV

Peer Median

Revenue YoY

40.0%

—

Revenue CAGR 3Y

11.1%

—

Revenue CAGR 5Y

4.8%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

VIAV

Peer Median

EPS (Diluted)

$-0.13

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

VIAV

Peer Median

VIAV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 15 analysts

Strong Buy 5 33.3%
Buy 8 53.3%
Hold 2 13.3%
Sell 0 0.0%
Strong Sell 0 0.0%

12-Month Price Target

7 analysts · 2026-08-14

Median $65.00

Mean $61.43

← Below all targets $39.59

Low $44.00

High $70.00

Median target $65.00 +64.2%

Mean target $61.43 +55.2%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

0.03%

Period	EPS Actual	EPS Est	Surprise
June 30, 2026	$0.34	$0.30	0.04%
March 31, 2026	$0.27	$0.24	0.03%
Dec. 31, 2025	$0.22	$0.19	0.03%
Sept. 30, 2025	$0.15	$0.13	0.02%
June 30, 2025	$0.13	$0.12	0.01%
March 31, 2025	$0.15	$0.12	0.03%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
VIAV	$11.76B	-366.4	40.0%	-2.0%	-2.7%	57.7%
UI	$24.90B	35.0	33.5%	27.7%	148.5%	43.4%
FFIV	$18.64B	27.4	9.7%	22.4%	20.1%	81.4%
AAOI	$2.61B	-54.5	82.8%	-8.4%	-6.6%	30.0%
VSAT	$6.25B	-183.2	2.7%	-0.73%	-0.74%	—
ONDS	$3.72B	-15.7	605.3%	-260.7%	-57.0%	39.7%
DGII	—	33.8	1.5%	9.5%	6.6%	62.9%
EXTR	$4.25B	104.4	12.6%	3.3%	45.7%	61.5%
NTCT	$2.29B	24.5	4.5%	11.1%	5.9%	79.4%
VISN	$3.91B	1.9	39.7%	118.2%	-102.4%	49.5%
CALX	$3.55B	203.6	20.3%	1.8%	2.2%	56.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 18

Annual Income Statement data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue	$1.52B	$1.08B	$1.00B	$1.11B	$1.29B	$1.20B	$1.14B	$1.13B	$876M	$805M	$906M	$874M
Cost of Revenue	$643M	$463M	$424M	$467M	$519M	$484M	$471M	$479M	$387M	$326M	$357M	$354M
Gross Profit	$875M	$621M	$576M	$639M	$774M	$714M	$665M	$651M	$488M	$479M	$550M	$520M
R&D Expense	$263M	$209M	$202M	$207M	$213M	$203M	$194M	$187M	$133M	$136M	$166M	$173M
SG&A Expense	$469M	$349M	$333M	$329M	$366M	$338M	$315M	$344M	$324M	$300M	$351M	$376M
Operating Expenses	$770M	$564M	$555M	$556M	$588M	$572M	$547M	$584M	$486M	$472M	$634M	$596M
Operating Income	$105M	$58M	$21M	$82M	$185M	$142M	$118M	$67M	$2M	$7M	$-84M	$-76M
Interest Expense	·	·	·	$27M	$23M	$15M	$13M	$34M	$47M	$43M	$36M	$33M
Interest Income	$15M	$13M	$19M	$10M	$3M	$3M	$7M	$8M	$16M	$11M	$6M	$5M
Other Non-op	$15M	$11M	$22M	$8M	$5M	$3M	$10M	$6M	$10M	$13M	$2M	$4M
Pretax Income	$16M	$39M	$12M	$61M	$65M	$131M	$114M	$39M	$-36M	$180M	$-46M	$-105M
Income Tax	$48M	$4M	$37M	$35M	$50M	$63M	$65M	$32M	$13M	$21M	$4M	$26M
Net Income	$-30M	$35M	$-26M	$26M	$16M	$68M	$49M	$5M	$-49M	$160M	$-99M	$-88M
EPS (Basic)	$-0.13	$0.16	$-0.12	$0.11	$0.07	$0.30	$0.21	$0.02	$-0.21	$0.70	$-0.42	$-0.38
EPS (Diluted)	$-0.13	$0.15	$-0.12	$0.11	$0.07	$0.29	$0.21	$0.02	$-0.21	$0.68	$-0.42	$-0.38
Shares (Basic)	229,500,000	222,500,000	222,600,000	224,600,000	230,900,000	228,700,000	229,400,000	228,100,000	227,100,000	229,900,000	234,000,000	232,700,000
Shares (Diluted)	229,500,000	225,700,000	222,600,000	226,600,000	238,200,000	236,300,000	234,800,000	231,200,000	227,100,000	234,500,000	234,000,000	232,700,000
EBITDA	$105M	$58M	$21M	$82M	$185M	$142M	$118M	$67M	$5M	$14M	$-84M	$-52M

Balance Sheet 30

Annual Balance Sheet data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Cash & Equivalents	$648M	$424M	$471M	$506M	$560M	$698M	$539M	$522M	$611M	$1.00B	$483M	$334M
Short-term Investments	$2M	$2M	$20M	$15M	$1M	$2M	$2M	$2M	$169M	$432M	$485M	$465M
Receivables	$351M	$261M	$213M	$231M	$261M	$256M	$236M	$238M	$219M	$120M	$148M	$152M
Inventory	$155M	$118M	$96M	$116M	$110M	$95M	$83M	$103M	$92M	$48M	$51M	$54M
Prepaid Expense	$93M	$77M	$71M	$72M	$69M	$57M	$51M	$50M	$56M	$51M	$32M	$38M
Current Assets	$1.26B	$885M	$876M	$945M	$1.01B	$1.11B	$914M	$917M	$1.16B	$1.67B	$1.21B	$1.38B
PP&E (Net)	$224M	$232M	$228M	$243M	$229M	$196M	$172M	$180M	$170M	$137M	$133M	$149M
PP&E (Gross)	$680M	$670M	$637M	$629M	$593M	$554M	$495M	$529M	$499M	$459M	$451M	$456M
Accum. Depreciation	$456M	$438M	$408M	$386M	$364M	$358M	$322M	$349M	$329M	$322M	$318M	$306M
Goodwill	$701M	$596M	$453M	$455M	$388M	$396M	$381M	$381M	$336M	$152M	$152M	$256M
Intangibles	$378M	$132M	$38M	$59M	$54M	$88M	$148M	$212M	$235M	$31M	$60M	$91M
Other Non-current Assets	$72M	$62M	$58M	$62M	$66M	$60M	$55M	$17M	$15M	$14M	$13M	$21M
Total Assets	$2.71B	$1.99B	$1.74B	$1.85B	$1.83B	$1.96B	$1.78B	$1.82B	$2.03B	$2.11B	$1.68B	$2.22B
Accounts Payable	$92M	$69M	$50M	$47M	$58M	$63M	$53M	$63M	$56M	$33M	$47M	$42M
Accrued Liabilities	$27M	$29M	$25M	$21M	$29M	$25M	$23M	$34M	$30M	$31M	$25M	$24M
Short-term Debt	$245M	$246M	$0	$96M	$68M	$457M	$3M	$0	$275M	$0	$0	$0
Current Liabilities	$680M	$590M	$247M	$344M	$369M	$747M	$233M	$284M	$553M	$229M	$226M	$376M
Capital Leases	$31M	$24M	$26M	$29M	$34M	$31M	$28M	$0	$27M	$28M	$29M	$29M
Deferred Tax	$7M	$6M	$12M	$14M	$10M	$24M	$24M	$15M	$20M	$2M	·	·
Other Non-current Liabilities	$180M	$228M	$172M	$187M	$170M	$226M	$231M	$226M	$181M	$164M	$179M	$168M
Total Liabilities	$1.26B	$1.21B	$1.05B	·	·	·	·	·	·	·	·	·
Long-term Debt	·	$396M	$636M	$630M	$616M	$224M	$679M	·	·	·	·	·
Total Debt	$245M	$246M	$0	$96M	$68M	$414M	$3M	$0	$275M	$0	$0	·
Common Stock	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K
Paid-in Capital	·	·	·	·	·	$70.18B	$70.15B	·	·	·	·	·
Retained Earnings	$-69.69B	$-69.63B	$-69.65B	$-69.60B	$-69.54B	$-69.32B	$-69.35B	$-69.38B	$-69.38B	$-69.31B	$-69.38B	$-68.87B
AOCI	$-116M	$-110M	$-144M	$-136M	$-156M	$-97M	$-166M	$-135M	$-103M	$-92M	$10M	$-48M
Stockholders' Equity	$1.45B	$780M	$682M	$691M	$672M	$764M	$633M	$627M	$735M	$804M	$689M	$1.10B
Liabilities + Equity	$2.71B	$1.99B	$1.74B	$1.85B	$1.83B	$1.96B	$1.78B	$1.82B	$2.03B	$2.11B	$1.68B	$2.22B
Shares Outstanding	247,000,000	223,000,000	221,900,000	221,500,000	226,400,000	228,300,000	228,000,000	229,000,000	227,000,000	228,000,000	232,000,000	235,000,000

Cash Flow 15

Annual Cash Flow data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Stock-based Comp	$55M	$53M	$49M	$51M	$52M	$48M	$45M	$38M	$30M	$33M	$44M	$67M
Deferred Tax	$11M	$-28M	$300.0K	$5M	$-10M	·	·	·	·	·	·	·
Amort. of Intangibles	$22M	$5M	$6M	$9M	$10M	$33M	$35M	$38M	$21M	$14M	$15M	$20M
Restructuring	$16M	$700.0K	$14M	$12M	$-100.0K	$-2M	$4M	$15M	$8M	$22M	$10M	$27M
Operating Cash Flow	$114M	$90M	$116M	$114M	$178M	$243M	$136M	$139M	$66M	$94M	$64M	$82M
CapEx	$31M	$28M	$20M	$51M	$72M	$52M	$32M	$45M	$42M	$39M	$36M	$102M
Investing Cash Flow	$-427M	$-128M	$-22M	$-127M	$-71M	$-49M	$-30M	$81M	$-286M	$114M	$244M	$-6M
Stock Issued	$575M	$0	$0	·	·	·	·	·	·	·	·	·
Stock Repurchased	$30M	$16M	$20M	$84M	$236M	$42M	$44M	$11M	$41M	$92M	$44M	$5M
Net Stock Activity	$545M	$-16M	$-20M	$-84M	$-236M	$-42M	$-44M	$-11M	$-41M	$-92M	$-44M	$-5M
Financing Cash Flow	$541M	$-24M	$-126M	$-50M	$-210M	$-59M	$-72M	$-300M	$-180M	$311M	$-159M	$-7M
Net Change in Cash	$228M	$-50M	$-34M	$-57M	$-136M	$161M	$17M	$-94M	$-398M	$521M	$135M	$51M
Taxes Paid	$24M	$30M	$31M	$48M	$77M	$37M	·	·	·	·	·	·
Free Cash Flow	$83M	$62M	$97M	$63M	$106M	$191M	$104M	$94M	$24M	$41M	$17M	$-19M
Levered FCF	·	·	·	$52M	$100M	$176M	$93M	$87M	$-43M	$3M	$-22M	$-55M

Profitability 8

Annual Profitability data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Gross Margin	57.7%	57.3%	57.6%	57.8%	59.9%	59.6%	58.6%	57.6%	55.9%	59.9%	60.7%	45.6%
Operating Margin	6.9%	5.3%	2.1%	7.4%	14.3%	11.9%	10.4%	6.0%	0.58%	1.7%	-9.3%	-3.1%
Net Margin	-2.0%	3.2%	-2.6%	2.3%	1.2%	3.9%	2.5%	0.48%	-5.2%	20.6%	-10.9%	·
Pretax Margin	1.1%	3.6%	1.2%	5.5%	5.0%	9.1%	8.3%	3.5%	-3.7%	23.0%	-5.1%	-4.9%
EBITDA Margin	6.9%	5.3%	2.1%	7.4%	14.3%	11.9%	10.4%	6.0%	0.58%	1.7%	-9.3%	-3.1%
ROA	-1.3%	1.9%	-1.4%	1.4%	0.82%	2.5%	1.6%	0.28%	-2.2%	8.8%	-5.1%	·
ROE	-2.7%	4.8%	-3.7%	3.7%	2.2%	6.0%	4.1%	0.74%	-6.2%	22.6%	-11.1%	·
ROIC	-11.9%	5.0%	-6.8%	4.4%	5.9%	5.0%	5.1%	1.8%	0.72%	1.5%	-13.4%	-5.1%

Liquidity & Solvency 4

Annual Liquidity & Solvency data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Current Ratio	1.8	1.5	3.5	2.8	2.7	1.6	3.9	3.2	2.1	7.3	5.4	3.7
Quick Ratio	1.5	1.2	2.9	2.2	2.2	1.4	3.3	2.7	1.8	6.8	4.9	3.0
Debt / Equity	0.2	0.3	0.0	0.1	0.1	0.5	0.0	0.0	0.4	0.0	0.0	·
Interest Coverage	·	·	·	3.0	7.9	3.9	3.5	2.0	0.1	0.3	-2.4	-1.5

Efficiency 3

Annual Efficiency data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Asset Turnover	0.6	0.6	0.6	0.6	0.7	0.6	0.6	0.6	0.4	0.4	0.5	0.7
Inventory Turnover	4.7	4.4	4.0	4.1	5.1	5.4	5.1	4.9	5.5	6.5	6.8	·
Receivables Turnover	5.0	4.6	4.5	4.5	5.0	4.9	4.8	5.0	5.2	6.0	6.0	5.7

Per Share 5

Annual Per Share data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Book Value / Share	$5.86	$3.50	$3.07	$3.11	$2.97	$3.40	$3.12	$3.17	$3.17	$3.45	$2.97	$4.69
Revenue / Share	$6.62	$4.80	$4.49	$4.88	$5.43	$5.08	$4.86	$4.89	$3.88	$3.46	$3.87	$7.34
Cash Flow / Share	$0.50	$0.40	$0.52	$0.50	$0.75	$1.03	$0.58	$0.60	$0.29	$0.34	$0.23	$0.35
Cash / Share	$2.62	$1.90	$2.12	$2.28	$2.48	$3.06	$2.36	$2.28	$2.69	$4.41	$2.08	$1.48
EPS (TTM)	$-0.13	$0.15	$-0.12	$0.11	$0.07	$0.29	$0.21	$0.02	$-0.21	$0.68	$-0.42	$-0.38

Growth Rates 9

Annual Growth Rates data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue YoY	40.0%	8.4%	-9.6%	-14.4%	7.8%	5.5%	·	·	·	·	·	·
Revenue CAGR 3Y	11.1%	-5.7%	-5.9%	-0.89%	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	4.8%	-0.93%	·	·	·	·	·	·	·	·	·	·
EPS YoY	·	·	·	57.1%	-75.9%	38.1%	·	·	·	·	·	·
EPS CAGR 3Y	·	28.9%	·	-19.4%	·	·	·	·	·	·	·	·
EPS CAGR 5Y	·	-6.5%	·	·	·	·	·	·	·	·	·	·
Net Income YoY	·	·	·	64.5%	-77.0%	37.8%	·	·	·	·	·	·
Net Income CAGR 3Y	·	30.9%	·	-19.6%	·	·	·	·	·	·	·	·
Net Income CAGR 5Y	·	-6.6%	·	·	·	·	·	·	·	·	·	·

Valuation (TTM) 14

Annual Valuation (TTM) data for VIAV
Metric	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Revenue TTM	$1.52B	$1.08B	$1.00B	$1.11B	$1.29B	$1.20B	$1.14B	$1.13B	$876M	$805M	$906M	$874M
Net Income TTM	$-30M	$35M	$-26M	$26M	$16M	$68M	$49M	$5M	$-49M	$160M	$-99M	$-88M
Market Cap	$11.76B	$2.23B	$1.53B	$2.52B	$2.96B	$3.98B	$2.85B	$3.04B	$2.32B	$2.40B	$1.53B	$1.61B
Enterprise Value	$11.36B	$2.05B	$1.03B	$2.09B	$2.47B	$3.70B	$2.31B	$2.52B	$1.82B	$964M	$566M	·
P/E	-366.4	66.7	-57.2	103.0	187.0	60.2	59.5	664.5	-48.8	15.5	-15.7	-18.0
P/S	7.7	2.1	1.5	2.3	2.3	3.3	2.5	2.7	2.7	3.0	1.7	1.8
P/B	8.1	2.9	2.2	3.6	4.4	5.1	4.0	4.2	3.2	3.1	2.2	1.5
P / Tangible Book	31.8	42.2	8.0	14.2	12.9	14.3	27.5	·	·	·	·	·
P / Cash Flow	103.3	24.8	13.1	22.0	16.6	16.4	21.0	21.9	35.2	30.0	29.0	19.5
P / FCF	142.1	36.0	15.7	39.9	28.0	20.8	27.5	32.4	98.9	58.0	88.1	-83.6
EV / EBITDA	108.1	35.7	49.7	25.4	13.3	26.0	19.6	37.4	356.7	70.9	-6.7	·
EV / FCF	137.2	33.1	10.7	33.2	23.3	19.3	22.3	26.9	77.4	23.3	32.5	·
EV / Revenue	7.5	1.9	1.0	1.9	1.9	3.1	2.0	2.2	2.1	1.2	0.6	·
Earnings Yield	-0.27%	1.5%	-1.8%	0.97%	0.53%	1.7%	1.7%	0.15%	-2.1%	6.5%	-6.3%	-5.6%

Income Statement 17

Quarterly Income Statement data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue	$443M	$407M	$369M	$299M	$290M	$285M	$271M	$238M	$252M	$246M	$254M	$248M	$264M	$248M	$284M	$310M
Cost of Revenue	$181M	$173M	$159M	$130M	$127M	$124M	$110M	$102M	$106M	$108M	$106M	$104M	$118M	$107M	$118M	$125M
Gross Profit	$262M	$234M	$211M	$169M	$164M	$161M	$161M	$136M	$146M	$138M	$148M	$144M	$146M	$141M	$167M	$185M
R&D Expense	$70M	$71M	$66M	$56M	$57M	$50M	$52M	$49M	$52M	$50M	$50M	$50M	$52M	$51M	$52M	$53M
SG&A Expense	$124M	$114M	$127M	$104M	$90M	$101M	$84M	$74M	$83M	$98M	$75M	$77M	$78M	$80M	$90M	$80M
Operating Expenses	$200M	$209M	$199M	$161M	$148M	$152M	$139M	$125M	$151M	$150M	$126M	$128M	$134M	$143M	$144M	$135M
Operating Income	$61M	$25M	$11M	$8M	$15M	$8M	$22M	$12M	$-6M	$-12M	$22M	$16M	$12M	$-2M	$23M	$50M
Interest Expense	·	·	·	·	·	·	·	·	·	$8M	$8M	$8M	·	$7M	$6M	$6M
Other Non-op	$3M	$7M	$4M	$1M	$2M	$2M	$4M	$3M	$4M	$4M	$4M	$10M	$3M	$2M	$2M	$1M
Pretax Income	$44M	$14M	$-39M	$-2M	$10M	$3M	$19M	$7M	$-10M	$-16M	$18M	$18M	$6M	$-9M	$19M	$45M
Income Tax	$11M	$7M	$10M	$19M	$2M	$-16M	$10M	$9M	$12M	$9M	$8M	$9M	$6M	$6M	$10M	$12M
Net Income	$33M	$6M	$-48M	$-21M	$8M	$20M	$9M	$-2M	$-22M	$-25M	$11M	$10M	$-100.0K	$-15M	$8M	$33M
EPS (Basic)	$0.15	$0.03	$-0.21	$-0.10	$0.04	$0.09	$0.04	$-0.01	$-0.10	$-0.11	$0.05	$0.04	$0.00	$-0.07	$0.04	$0.14
EPS (Diluted)	$0.15	$0.03	$-0.21	$-0.10	$0.03	$0.09	$0.04	$-0.01	$-0.10	$-0.11	$0.05	$0.04	$0.00	$-0.07	$0.04	$0.14
Shares (Basic)	-449,300,000	232,000,000	223,900,000	222,900,000	-444,100,000	222,600,000	222,000,000	222,000,000	-444,900,000	223,000,000	222,500,000	222,000,000	-451,700,000	224,100,000	225,900,000	226,300,000
Shares (Diluted)	-466,800,000	249,500,000	223,900,000	222,900,000	-448,000,000	226,900,000	224,800,000	222,000,000	-448,100,000	223,000,000	223,500,000	224,200,000	-455,000,000	224,100,000	227,100,000	230,400,000
EBITDA	·	$25M	$11M	$8M	·	$8M	$22M	$12M	·	$-12M	$22M	$16M	·	$-2M	$23M	$50M

Balance Sheet 28

Quarterly Balance Sheet data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Cash & Equivalents	$648M	$499M	$766M	$544M	$424M	$374M	$488M	$468M	$471M	$454M	$544M	$521M	·	$581M	$484M	$513M
Short-term Investments	$2M	$2M	$2M	$2M	$2M	$23M	$21M	$25M	$20M	$28M	$25M	$20M	·	$2M	$1M	$1M
Receivables	$351M	$320M	$285M	$242M	$261M	$253M	$212M	$203M	$213M	$212M	$209M	$191M	·	$220M	$224M	$246M
Inventory	$155M	$148M	$141M	$124M	$118M	$116M	$93M	$93M	$96M	$103M	$115M	$114M	$116M	$126M	$120M	$111M
Prepaid Expense	$93M	$78M	$81M	$75M	$77M	$66M	$62M	$70M	$71M	$66M	$70M	$67M	·	$70M	$78M	$77M
Current Assets	$1.26B	$1.05B	$1.28B	$990M	$885M	$835M	$880M	$864M	$876M	$868M	$965M	$916M	·	$1.00B	$912M	$951M
PP&E (Net)	$224M	$222M	$227M	$230M	$232M	$228M	$226M	$230M	$228M	$232M	$236M	$239M	·	$247M	$245M	$232M
PP&E (Gross)	$680M	·	·	·	$670M	·	·	·	$637M	·	·	·	·	·	·	·
Accum. Depreciation	$456M	·	·	·	$438M	·	·	·	$408M	·	·	·	·	·	·	·
Goodwill	$701M	$702M	$704M	$592M	$596M	$585M	$451M	$461M	$453M	$453M	$455M	$450M	$455M	$452M	$449M	$388M
Intangibles	$378M	$398M	$419M	$123M	$132M	$140M	$29M	$34M	$38M	$43M	$48M	$53M	·	$64M	$72M	$49M
Other Non-current Assets	$72M	$72M	$70M	$69M	$62M	$61M	$58M	$62M	$58M	$60M	$61M	$58M	·	$62M	$62M	$63M
Total Assets	$2.71B	$2.53B	$2.78B	$2.08B	$1.99B	$1.93B	$1.73B	$1.74B	$1.74B	$1.74B	$1.86B	$1.80B	$1.85B	$1.92B	$1.83B	$1.77B
Accounts Payable	$92M	$82M	$91M	$67M	$69M	$67M	$56M	$47M	$50M	$42M	$44M	$40M	·	$44M	$50M	$62M
Accrued Liabilities	$27M	$28M	$24M	$30M	$29M	$26M	$27M	$24M	$25M	$36M	$22M	$26M	·	$28M	$29M	$27M
Short-term Debt	$245M	·	·	·	$246M	·	·	·	$0	·	·	·	·	·	·	·
Current Liabilities	$680M	$652M	$490M	$498M	$590M	$545M	$248M	$233M	$247M	$228M	$312M	$311M	·	$413M	$329M	$333M
Capital Leases	$31M	$31M	$28M	$29M	$24M	$25M	$23M	$26M	$26M	$27M	$27M	$28M	·	$29M	$29M	$30M
Deferred Tax	$7M	$10M	$10M	$7M	$6M	$8M	$7M	$8M	$12M	$14M	$19M	$17M	·	$15M	$14M	$15M
Other Non-current Liabilities	$180M	$192M	$232M	$220M	$228M	$264M	$155M	$165M	$172M	$177M	$183M	$185M	·	$195M	$194M	$167M
Total Liabilities	$1.26B	$1.68B	$1.94B	$1.36B	$1.21B	$1.20B	$1.04B	$1.04B	$1.05B	·	·	·	·	·	·	·
Long-term Debt	·	$836M	$1.22B	$640M	·	$396M	$639M	$638M	·	$634M	$633M	$631M	·	$628M	$617M	$617M
Common Stock	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	$200.0K	·	$200.0K	$200.0K	$200.0K
Retained Earnings	$-69.69B	$-69.72B	$-69.73B	$-69.68B	$-69.63B	$-69.64B	$-69.66B	$-69.66B	$-69.65B	$-69.61B	$-69.59B	$-69.60B	·	$-69.59B	$-69.55B	$-69.53B
AOCI	$-116M	$-116M	$-108M	$-114M	$-110M	$-141M	$-155M	$-114M	$-144M	$-139M	$-127M	$-156M	·	$-143M	$-156M	$-199M
Stockholders' Equity	$1.45B	$846M	$834M	$724M	$780M	$729M	$683M	$702M	$682M	$705M	$728M	$675M	$691M	$682M	$688M	$648M
Liabilities + Equity	$2.71B	$2.53B	$2.78B	$2.08B	$1.99B	$1.93B	$1.73B	$1.74B	$1.74B	$1.74B	$1.86B	$1.80B	·	$1.92B	$1.83B	$1.77B
Shares Outstanding	247,000,000	234,000,000	231,000,000	223,000,000	223,000,000	223,000,000	222,000,000	222,000,000	221,900,000	223,000,000	223,000,000	222,000,000	221,500,000	222,000,000	225,000,000	227,000,000

Cash Flow 13

Quarterly Cash Flow data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Stock-based Comp	$14M	$14M	$14M	$13M	$13M	$14M	$14M	$13M	$13M	$13M	$12M	$11M	$12M	$13M	·	$13M
Deferred Tax	$1M	$-2M	$600.0K	$11M	$2M	$-25M	$0	$-5M	$3M	$-5M	$2M	$1M	$700.0K	$800.0K	·	$2M
Amort. of Intangibles	$7M	$7M	$6M	$2M	$2M	$1M	$1M	$1M	$1M	$2M	$1M	$2M	$2M	$2M	$2M	$2M
Restructuring	$-1M	$17M	$-100.0K	$-300.0K	$-200.0K	$-300.0K	$1M	$0	$14M	$100.0K	$-100.0K	$-800.0K	$2M	$10M	$0	$0
Operating Cash Flow	$67M	$-26M	$42M	$31M	$24M	$8M	$45M	$14M	$26M	$20M	$20M	$50M	$24M	$18M	·	$27M
CapEx	$11M	$6M	$6M	$8M	$6M	$7M	$8M	$7M	$4M	$3M	$6M	$7M	$7M	$11M	·	$15M
Investing Cash Flow	$-10M	$-5M	$-404M	$-8M	$12M	$-125M	$-4M	$-12M	$6M	$-7M	$-8M	$-13M	$-22M	$-9M	·	$-30M
Stock Repurchased	$0	$0	$0	$30M	$0	$0	$0	$16M	$10M	$0	$0	$10M	$10M	$30M	·	$19M
Net Stock Activity	·	·	·	$-30M	·	·	·	$-16M	·	·	·	$-10M	·	·	·	$-19M
Financing Cash Flow	$92M	$-231M	$583M	$98M	$-100.0K	$-2M	$-900.0K	$-21M	$-10M	$-97M	$-2M	$-16M	$-79M	$82M	·	$-27M
Net Change in Cash	$148M	$-265M	$224M	$120M	$49M	$-114M	$18M	$-4M	$19M	$-90M	$25M	$12M	$-78M	$96M	·	$-48M
Free Cash Flow	·	·	·	$22M	·	·	·	$6M	·	·	·	$44M	·	·	·	$12M
Levered FCF	·	·	·	·	·	·	·	·	·	·	·	$39M	·	·	·	·

Profitability 8

Quarterly Profitability data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Gross Margin	·	57.6%	57.0%	56.5%	·	56.4%	59.4%	57.1%	·	56.1%	58.1%	58.2%	·	56.9%	58.7%	59.6%
Operating Margin	·	6.1%	3.1%	2.5%	·	3.0%	8.2%	4.8%	·	-4.8%	8.8%	6.5%	·	-0.85%	8.1%	16.1%
Net Margin	·	1.6%	-13.0%	-7.1%	·	6.9%	3.4%	-0.76%	·	-10.0%	4.2%	4.0%	·	-6.2%	2.9%	10.5%
Pretax Margin	·	3.4%	-10.5%	-0.77%	·	1.1%	6.9%	3.0%	·	-6.3%	7.2%	7.4%	·	·	·	·
EBITDA Margin	·	6.1%	3.1%	2.5%	·	3.0%	8.2%	4.8%	·	-4.8%	8.8%	6.5%	·	-0.85%	8.1%	16.1%
ROA	·	0.29%	-2.1%	-1.1%	·	1.1%	0.51%	-0.10%	·	-1.3%	0.58%	0.55%	·	-0.81%	0.44%	1.7%
ROE	·	0.81%	-6.3%	-3.0%	·	2.7%	1.3%	-0.26%	·	-3.5%	1.5%	1.5%	·	-2.2%	1.1%	4.3%
ROIC	·	1.4%	1.7%	9.7%	·	7.1%	1.6%	-0.41%	·	-2.7%	1.8%	1.3%	·	·	·	·

Liquidity & Solvency 3

Quarterly Liquidity & Solvency data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Current Ratio	·	1.6	2.6	2.0	·	1.5	3.5	3.7	·	3.8	3.1	2.9	·	2.4	2.8	2.9
Quick Ratio	·	1.3	2.1	1.6	·	1.2	2.9	3.0	·	3.0	2.5	2.4	·	1.9	2.2	2.3
Interest Coverage	·	·	·	·	·	·	·	·	·	-1.5	2.8	2.1	·	-0.3	3.7	8.2

Efficiency 3

Quarterly Efficiency data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Asset Turnover	·	0.2	0.2	0.2	·	0.2	0.2	0.1	·	0.1	0.1	0.1	·	0.1	0.1	0.2
Inventory Turnover	·	1.3	1.4	1.2	·	1.1	1.1	1.0	·	0.9	0.9	0.9	·	0.9	1.0	1.2
Receivables Turnover	·	1.4	1.5	1.3	·	1.2	1.3	1.2	·	1.1	1.2	1.1	·	1.0	1.2	1.3

Per Share 5

Quarterly Per Share data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Book Value / Share	·	$3.62	$3.61	$3.25	·	$3.27	$3.08	$3.16	·	$3.16	$3.26	$3.04	·	$3.07	$3.06	$2.86
Revenue / Share	·	$1.63	$1.65	$1.34	·	$1.26	$1.20	$1.07	·	$1.10	$1.14	$1.11	·	$1.11	$1.25	$1.35
Cash Flow / Share	·	·	·	$0.14	·	·	·	$0.06	·	·	·	$0.22	·	·	·	$0.12
Cash / Share	·	$2.13	$3.31	$2.44	·	$1.68	$2.20	$2.11	·	$2.04	$2.44	$2.35	·	$2.62	$2.15	$2.26
EPS (TTM)	·	$-0.19	$-0.18	$0.02	·	$0.01	$-0.03	$-0.03	·	$-0.02	$0.02	·	·	·	·	·

Valuation (TTM) 10

Quarterly Valuation (TTM) data for VIAV
Metric	Q4 2026	Q3 2026	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Revenue TTM	·	$1.36B	$1.22B	$1.09B	·	$1.04B	$1.01B	$987M	·	$1.01B	$1.01B	·	·	·	·	·
Net Income TTM	·	$-44M	$-41M	$5M	·	$2M	$-7M	$-6M	·	$-4M	$5M	·	·	·	·	·
Market Cap	·	$8.11B	$4.20B	$2.72B	·	$2.51B	$2.26B	$2.00B	·	$2.03B	$2.25B	$2.03B	·	$2.40B	$2.36B	$2.96B
P/E	·	-182.3	-101.1	610.5	·	1126.0	-339.3	-301.0	·	-454.5	503.5	·	·	·	·	·
P/S	·	6.0	3.4	2.5	·	2.4	2.2	2.0	·	2.0	2.2	·	·	·	·	·
P/B	·	9.6	5.0	3.8	·	3.4	3.3	2.9	·	2.9	3.1	3.0	·	3.5	3.4	4.6
P / Tangible Book	·	·	·	324.1	·	678.6	11.2	9.7	·	9.7	10.0	11.7	·	14.4	14.2	14.0
P / Cash Flow	·	·	·	87.8	·	·	·	148.5	·	·	·	40.3	·	·	·	111.4
P / FCF	·	·	·	121.0	·	·	·	323.3	·	·	·	46.5	·	·	·	251.0
Earnings Yield	·	-0.55%	-0.99%	0.16%	·	0.09%	-0.29%	-0.33%	·	-0.22%	0.20%	·	·	·	·	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2026-06-27	2025-06-28	2024-09-28	2024-06-29	2023-07-01
Revenue	$1.52B	$1.08B	—	$1.00B	$1.11B
Gross Margin %	57.7%	57.3%	—	57.6%	57.8%
Operating Margin %	6.9%	5.3%	—	2.1%	7.4%
Net Income	$-30M	$35M	—	$-26M	$26M
Diluted EPS	$-0.13	$0.15	—	$-0.12	$0.11

Balance Sheet

	2026-06-27	2025-06-28	2024-09-28	2024-06-29	2023-07-01
Debt / Equity	0.2	0.3	—	0.0	0.1
Current Ratio	1.8	1.5	—	3.5	2.8
Quick Ratio	1.5	1.2	—	2.9	2.2

Cash Flow

	2026-06-27	2025-06-28	2024-09-28	2024-06-29	2023-07-01
Free Cash Flow	$83M	$62M	—	$97M	$63M

Latest News Recent headlines mentioning this company

VIAVI Solutions (VIAV) Launches CyberFlood CF1000 400G Security Test Platform Yahoo Finance · 2 months, 3 weeks ago
Via Transportation Q1 Loss Widens Nasdaq · 3 months ago
Why Viavi Solutions Stock Triumphed on Thursday Nasdaq · 3 months, 2 weeks ago
Jim Cramer on Viavi Solutions: “I Know It’s Expensive, But I’ll Tell You, That Is the Hot Area” Yahoo Finance · 4 months, 3 weeks ago
G2 Investment Partners Initiates a New Position in Xometry Yahoo Finance · 4 months, 4 weeks ago

Trading Signals Recent buy/sell signals with entry price and risk/reward ratio

BLUECHIP_DIP @ $48.21 RR 3.12 Jun 01

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Institutional owners (13F) 619 filers · $7.4B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
173 (+28 vs prior Q)	59 (+10 vs prior Q)	181 (+39 vs prior Q)	181 (+43 vs prior Q)	+52.9M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD PORTFOLIO MANAGEMENT LLC	$650,148,911	13,615,684	8.84%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$520,648,619	10,903,636	7.08%	Shares
Capital World Investors	$437,180,234	9,155,607	5.94%	Shares
STATE STREET CORP	$370,653,454	7,762,376	5.04%	Shares
Whale Rock Capital Management LLC	$328,326,231	6,875,942	4.46%	Shares
TWO SIGMA INVESTMENTS, LP	$266,758,861	5,586,573	3.63%	Shares
MILLENNIUM MANAGEMENT LLC	$251,909,184	5,275,585	3.42%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$229,612,920	4,786,007	3.12%	Shares
JANE STREET GROUP, LLC	$151,929,231	3,181,764	2.06%	Shares
DIMENSIONAL FUND ADVISORS LP	$151,146,513	3,165,372	2.05%	Shares
NORGES BANK	$141,156,640	2,956,160	1.92%	Shares
WELLINGTON MANAGEMENT GROUP LLP	$140,477,683	2,941,941	1.91%	Shares
FULLER & THALER ASSET MANAGEMENT, INC.	$131,127,023	2,746,116	1.78%	Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$126,339,815	2,645,860	1.72%	Shares
ALLIANCEBERNSTEIN L.P.	$119,289,498	3,584,420	1.62%	Shares
GOLDMAN SACHS GROUP INC	$112,712,720	2,360,476	1.53%	Shares
Analog Century Management LP	$108,252,449	2,267,067	1.47%	Shares
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	$97,976,936	2,051,873	1.33%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$96,270,017	2,016,126	1.31%	Shares
AMERIPRISE FINANCIAL INC	$86,394,777	1,809,328	1.17%	Shares
FMR LLC	$77,190,119	1,616,547	1.05%	Shares
BNP PARIBAS FINANCIAL MARKETS	$76,813,181	1,608,653	1.04%	Shares
VANGUARD FIDUCIARY TRUST CO	$72,593,848	1,520,290	0.99%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$71,519,377	1,497,788	0.97%	Shares
BOWEN HANES & CO INC	$66,560,000	2,000,000	0.90%	Shares
JANE STREET GROUP, LLC	$57,347,750	1,201,000	0.78%	Put option
JANE STREET GROUP, LLC	$56,798,625	1,189,500	0.77%	Call option
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$52,128,675	1,091,700	0.71%	Call option
Qube Research & Technologies Ltd	$51,832,482	1,085,497	0.70%	Shares
Holocene Advisors, LP	$50,882,830	1,065,609	0.69%	Shares
BANK OF AMERICA CORP /DE/	$48,526,415	1,016,260	0.66%	Shares
Leeward Investments, LLC - MA	$48,457,942	1,014,826	0.66%	Shares
NEUBERGER BERMAN GROUP LLC	$45,608,699	955,156	0.62%	Shares
Robeco Schweiz AG	$42,784,000	896,000	0.58%	Shares
MARSHALL WACE, LLP	$38,045,863	796,772	0.52%	Shares
OBERWEIS ASSET MANAGEMENT INC/	$37,894,400	793,600	0.52%	Shares
Squarepoint Ops LLC	$36,766,402	769,977	0.50%	Shares
Stephens Investment Management Group LLC	$36,704,279	768,676	0.50%	Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC	$33,620,918	704,103	0.46%	Shares
LOOMIS SAYLES & CO L P	$33,246,224	696,256	0.45%	Shares
Point72 Asset Management, L.P.	$32,599,403	682,710	0.44%	Shares
Caption Management, LLC	$32,130,975	672,900	0.44%	Put option
Trexquant Investment LP	$31,742,577	664,766	0.43%	Shares
RHUMBLINE ADVISERS	$31,267,936	654,827	0.42%	Shares
Aperture Investors, LLC	$30,961,100	648,400	0.42%	Shares
Parsifal Capital Management, LP	$29,549,562	618,839	0.40%	Shares
TUDOR INVESTMENT CORP ET AL	$28,980,478	606,921	0.39%	Shares
WESTERLY CAPITAL MANAGEMENT, LLC	$27,456,250	575,000	0.37%	Shares
Public Sector Pension Investment Board	$26,587,200	556,800	0.36%	Shares
BARCLAYS PLC	$26,070,689	545,983	0.35%	Shares
PRINCIPAL FINANCIAL GROUP INC	$25,238,167	528,548	0.34%	Shares
ENVESTNET ASSET MANAGEMENT INC	$24,766,492	518,670	0.34%	Shares
JENNISON ASSOCIATES LLC	$24,101,243	504,738	0.33%	Shares
Weiss Asset Management LP	$23,946,959	501,507	0.33%	Shares
EARNEST PARTNERS LLC	$23,919,646	500,935	0.33%	Shares
Tensor Edge Capital, LLC	$23,875,000	500,000	0.32%	Shares
Ma Investment Partnership, LP	$23,875,000	500,000	0.32%	Shares
BlackRock, Inc.	$22,942,347	480,468	0.31%	Shares
Caption Management, LLC	$22,604,850	473,400	0.31%	Call option
Swiss National Bank	$22,170,325	464,300	0.30%	Shares
Tributary Capital Management, LLC	$19,692,243	412,403	0.27%	Shares
Point72 Asset Management, L.P.	$19,400,825	406,300	0.26%	Call option
Virtus Wealth Solutions LLC	$19,138,821	400,813	0.26%	Shares
Swedbank AB	$18,813,500	394,000	0.26%	Shares
ARDSLEY ADVISORY PARTNERS LP	$18,622,500	390,000	0.25%	Shares
Assenagon Asset Management S.A.	$17,918,474	375,256	0.24%	Shares
G2 Investment Partners Management LLC	$17,805,975	372,900	0.24%	Shares
TD Asset Management Inc	$17,668,551	370,022	0.24%	Shares
Fisher Asset Management, LLC	$16,591,644	347,469	0.23%	Shares
VICTORY CAPITAL MANAGEMENT INC	$16,482,154	345,176	0.22%	Shares
FIRST TRUST ADVISORS LP	$15,755,064	329,949	0.21%	Shares
RENAISSANCE TECHNOLOGIES LLC	$15,676,325	328,300	0.21%	Shares
SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC	$15,280,000	320,000	0.21%	Put option
AXIOM INVESTORS LLC /DE	$15,055,575	315,300	0.20%	Shares
PEREGRINE CAPITAL MANAGEMENT LLC	$15,026,448	314,690	0.20%	Shares
Balyasny Asset Management L.P.	$14,729,156	308,464	0.20%	Shares
IMC-Chicago, LLC	$14,469,730	303,031	0.20%	Shares
Walleye Capital LLC	$14,268,798	298,823	0.19%	Shares
Schonfeld Strategic Advisors LLC	$14,080,995	294,890	0.19%	Shares
Defiance ETFs, LLC	$13,966,658	296,721	0.19%	Shares
LOS ANGELES CAPITAL MANAGEMENT LLC	$13,866,266	290,393	0.19%	Shares
OAK RIDGE INVESTMENTS LLC	$13,707,163	287,061	0.19%	Shares
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$13,348,000	279,543	0.18%	Shares
CANADA PENSION PLAN INVESTMENT BOARD	$12,653,750	265,000	0.17%	Shares
Retirement Systems of Alabama	$12,584,704	263,554	0.17%	Shares
LPL Financial LLC	$12,177,730	255,031	0.17%	Shares
Bank of New York Mellon Corp	$12,177,110	255,018	0.17%	Shares
GROUP ONE TRADING LLC	$12,048,948	252,334	0.16%	Shares
Aberdeen Group plc	$12,001,485	251,340	0.16%	Shares
SEVEN GRAND MANAGERS, LLC	$11,937,500	250,000	0.16%	Shares
TWO SIGMA ADVISERS, LP	$11,648,934	653,700	0.16%	Shares
LAZARD ASSET MANAGEMENT LLC	$11,319,281	237,053	0.15%	Shares
STATE OF WISCONSIN INVESTMENT BOARD	$10,939,573	229,101	0.15%	Shares
VANGUARD ASSET MANAGEMENT, Ltd	$10,734,248	224,801	0.15%	Shares
Portolan Capital Management, LLC	$10,510,635	220,118	0.14%	Shares
Informed Momentum Co LLC	$10,321,831	216,164	0.14%	Shares
Quadrature Capital Ltd	$10,255,268	214,770	0.14%	Shares
ExodusPoint Capital Management, LP	$10,228,241	214,204	0.14%	Shares
KORNITZER CAPITAL MANAGEMENT INC /KS	$10,203,220	213,680	0.14%	Shares
First Eagle Investment Management, LLC	$10,165,975	212,900	0.14%	Shares

Company insiders 63 insiders · 37 officers · 23 directors

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Oleg Khaykin	President & CEO	May 8, 2026 S	1,188,798	19	$-35,977,517
Thomas H Waechter	CEO & President	Aug. 24, 2015 M	238,140	0	$0
Ilan Daskal	EVP, CFO	Dec. 2, 2025 S	10,132	3	$-2,972,994
Henk Derksen	EVP, CFO	Sept. 26, 2023 M	146,030	0	$0
Pamela K. Avent	Interim CFO	Feb. 28, 2021 M	51,452	0	$0
Amar Maletira	CFO	Oct. 1, 2020 M	274,449	0	$0
Rex S Jackson	EVP, Chief Financial Officer	Aug. 24, 2015 M	63,963	0	$0
David Vellequette	Chief Financial Officer	Aug. 15, 2012 M	106,386	0	$0
Ronald C Foster	CFO & Executive VP	Feb. 1, 2005 S	0	0	$0
David W Heard	President, CommTest	Feb. 22, 2015 M	36,675	0	$0
Stan Lumish	President of Optical Layer Gro	May 27, 2005 A	—	0	$0
Donald E Bossi	President of Transmission Grou	March 12, 2004 A	49,229	0	$0
Joseph Zils	President of Thin Film Product	July 30, 2003 A	—	0	$0
Anthony Michael Petrucci	SVP, Chief Operations Officer	May 28, 2026 M	12,345	0	$0
Luke M Scrivanich	SVP General Manager OSP	May 6, 2026 S	39,287	6	$-1,348,868
Kevin Christopher Siebert	SVP Gen. Counsel & Secretary	May 4, 2026 S	20,129	7	$-1,950,312
Gary W Staley	SVP Global Sales NSE	Feb. 5, 2026 S	136,267	7	$-2,289,155
James L Veler Jr	SVP, CHIEF OPERATIONS OFFICER	March 7, 2025 S	0	0	$0
Ralph Rondinone	SVP Global Operations NSE	Sept. 26, 2024 S	32,722	0	$0
Dion Joannou	SVP Global Sales NSE	Jan. 31, 2017 M	47,329	0	$0
Susan Louise Spradley	SVP General Manager NSE	Jan. 31, 2017 M	47,650	0	$0
Alan S Lowe	EVP, President CCOP	May 22, 2015 M	221,747	0	$0
Andrew R Pollack	SVP, General Counsel	Feb. 22, 2015 M	0	0	$0
Roy Bie	Sr. Vice President	Aug. 1, 2012 S	3,122	0	$0
David R Holly	EVP & Pres., CommTest	June 20, 2010 M	0	0	$0
Matthew K Fawcett	General Counsel	June 20, 2010 M	0	0	$0
Sharad Rastogi	SVP, Corp Dev & Marketing	Oct. 15, 2009 M	109,346	0	$0
David Gudmundson	EVP, Optical Communications	Aug. 29, 2008 M	54,174	0	$0
Christopher Dewees	SVP & Chief Legal Officer	Aug. 29, 2008 M	0	0	$0
Alan R Etterman	SVP, Chief Information Officer	Aug. 22, 2008 M	56,609	0	$0
Helmut K Berg	Executive Vice President	Oct. 11, 2007 S	18,772	0	$0
John R Peeler	Executive Vice President	May 16, 2007 M	168,104	0	$0
Michael A Ricci	Sr. VP of Optical Comm.	Nov. 6, 2006 S	0	0	$0
Debbie Shoquist	Sr. Vice President of Operatio	May 27, 2006 M	28,912	0	$0
Thomas Znotins	Vice President of Subsystems	May 27, 2006 M	8,333	0	$0
Mark Stewart Sobey	Sr. Vice President, Sales & Ma	Oct. 26, 2005 M	24,067	0	$0
George Charles Christensen	Sr. VP OCLI Products & commers	May 27, 2005 A	—	0	$0
Laura A. Black	Director	Aug. 17, 2026 S	71,497	1	$-3,274,520
Doug Gilstrap	Director	May 5, 2026 S	55,766	1	$-550,000
Richard Belluzzo	Director	May 4, 2026 S	160,740	5	$-3,694,120
Donald A Colvin	Director	Feb. 26, 2026 S	147,053	3	$-1,414,357
Eugenia Corrales	Director	Dec. 10, 2025 S	3,384	1	$-63,484
Richard John Burns	Director	Dec. 10, 2025 S	3,384	1	$-63,484
Keith Barnes	Director	Nov. 13, 2025 A	27,213	4	$-3,139,797
Masood Jabbar	Director	Nov. 7, 2025 M	203,862	0	$0
Tor Braham	Director	Nov. 6, 2024 M	188,524	0	$0
Timothy Campos	Director	Nov. 11, 2022 M	118,941	0	$0
Glenda Dorchak	Director	Nov. 10, 2021 M	28,833	0	$0
Pamela J Strayer	Director	Feb. 28, 2018 S	60,804	0	$0
Harold L Covert	Director	Aug. 14, 2015 S	0	0	$0
Penny Herscher	Director	Dec. 8, 2014 A	50,753	0	$0
Martin A Kaplan	Director	Nov. 17, 2014 M	51,732	0	$0
Kevin Kennedy	Director	Aug. 16, 2012 M	149,944	0	$0
Casimir S Skrzypczak	Director	Nov. 15, 2011 M	42,383	0	$0
Richard Liebhaber	Director	Nov. 15, 2011 M	53,852	0	$0
Bruce Day	Director	Nov. 30, 2010 M	46,259	0	$0
Kevin A Denuccio	Director	Nov. 10, 2009 M	25,070	0	$0
Robert E Enos	Director	Dec. 1, 2005 A	125,606	0	$0
Peter A Guglielmi	Director	Dec. 1, 2005 A	26,863	0	$0
JDS UNIPHASE CORP /CA/	10% owner	Sept. 16, 2004 S	2,965,635	0	$0
Joanne Solomon	—	Aug. 14, 2026 S	65,924	1	$-429,200
Paul Mcnab	—	Aug. 10, 2026 S	13,876	6	$-695,653
Jo S Major	—	Aug. 10, 2004 M	11,326	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer	Filed	Stake	Status	Purpose	Filing
Sandell Asset Management Corp., Sandell Investment Services, L.L.C., Thomas E. Sandell ×3 filings	Dec. 17, 2015	—	Initial filing	—	SEC
(entities only) JDS Uniphase Corporation, Light Acquisition Corp.	Dec. 19, 2007	—	Initial filing	—	SEC
JDS Uniphase Corporation	Nov. 6, 2001	—	Initial filing	Passive investment	SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 83 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
IYZ · iShares Trust	2.06%	625,472 SH	Aug. 8, 2026	Daily
OASC · Unified Series Trust	1.58%	27,303 NS	May 31, 2026	N-PORT
AFSM · First Trust Exchange-Traded Fund VI…	1.23%	24,898 NS	May 31, 2026	N-PORT
FNY · First Trust Exchange-Traded AlphaDE…	1.04%	103,015 NS	April 30, 2026	N-PORT
RFG · Invesco Exchange-Traded Fund Trust	0.64%	58,953 SH	Aug. 8, 2026	Daily
AFMC · First Trust Exchange-Traded Fund VI…	0.58%	19,389 NS	May 31, 2026	N-PORT
IVOG · VANGUARD ADMIRAL FUNDS	0.58%	230,801 SH	Aug. 8, 2026	Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr…	0.57%	80,009 NS	April 30, 2026	N-PORT
ROUS · Lattice Strategies Trust	0.57%	63,436 NS	April 30, 2026	N-PORT
FNX · First Trust Exchange-Traded AlphaDE…	0.54%	136,692 NS	April 30, 2026	N-PORT
JPSE · J.P. Morgan Exchange-Traded Fund Tr…	0.53%	58,803 NS	April 30, 2026	N-PORT
BKSE · BNY Mellon ETF Trust	0.52%	7,986 NS	April 30, 2026	N-PORT
IJK · iShares Trust	0.51%	1,367,046 SH	Aug. 8, 2026	Daily
OALC · Unified Series Trust	0.51%	25,211 NS	May 31, 2026	N-PORT
SAA · ProShares Trust	0.50%	2,767 NS	May 31, 2026	N-PORT
DWAS · Invesco Exchange-Traded Fund Trust …	0.47%	53,615 SH	Aug. 8, 2026	Daily
QQQS · Invesco Exchange-Traded Fund Trust …	0.40%	2,306 SH	Aug. 8, 2026	Daily
RSSL · Global X Funds	0.37%	100,024 NS	April 30, 2026	N-PORT
TRFM · ETF Series Solutions	0.36%	10,804 NS	April 30, 2026	N-PORT
ITAN · EA Series Trust	0.36%	6,527 NS	May 29, 2026	N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust	0.33%	245,843 SH	Aug. 8, 2026	Daily
EQAL · Invesco Exchange-Traded Fund Trust …	0.32%	68,417 SH	Aug. 8, 2026	Daily
IVOO · VANGUARD ADMIRAL FUNDS	0.31%	377,797 SH	Aug. 8, 2026	Daily
FAD · First Trust Exchange-Traded AlphaDE…	0.31%	28,320 NS	April 30, 2026	N-PORT
FNDA · SCHWAB STRATEGIC TRUST	0.31%	561,930 NS	May 31, 2026	N-PORT
ITWO · ProShares Trust	0.28%	10,857 NS	May 31, 2026	N-PORT
ISCG · iShares Trust	0.28%	69,130 SH	Aug. 8, 2026	Daily
FSCC · Federated Hermes ETF Trust	0.28%	15,792 NS	May 31, 2026	N-PORT
IWP · iShares Trust	0.27%	1,336,508 SH	Aug. 8, 2026	Daily
IJH · iShares Trust	0.26%	8,070,679 SH	Aug. 8, 2026	Daily
SCHA · SCHWAB STRATEGIC TRUST	0.24%	1,112,103 NS	May 31, 2026	N-PORT
VFMO · VANGUARD WELLINGTON FUND	0.23%	97,329 SH	Aug. 8, 2026	Daily
DFAS · Dimensional ETF Trust	0.23%	615,710 NS	April 30, 2026	N-PORT
SMDX · Tidal Trust III	0.22%	5,371 NS	April 30, 2026	N-PORT
GSSC · Goldman Sachs ETF Trust	0.21%	43,232 NS	May 31, 2026	N-PORT
FTEC · FIDELITY COVINGTON TRUST	0.19%	662,630 NS	April 30, 2026	N-PORT
UWM · ProShares Trust	0.17%	8,492 NS	May 31, 2026	N-PORT
VBK · VANGUARD INDEX FUNDS	0.16%	1,625,246 SH	Aug. 8, 2026	Daily
SMMV · iShares Trust	0.15%	10,821 SH	Aug. 8, 2026	Daily
VB · VANGUARD INDEX FUNDS	0.14%	5,619,874 SH	Aug. 8, 2026	Daily
ISCB · iShares Trust	0.14%	9,934 SH	Aug. 8, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.13%	2,684,040 SH	Aug. 8, 2026	Daily
ESML · iShares Trust	0.13%	89,895 SH	Aug. 8, 2026	Daily
SMMD · iShares Trust	0.13%	115,575 SH	Aug. 8, 2026	Daily
VBR · VANGUARD INDEX FUNDS	0.12%	1,783,696 SH	Aug. 8, 2026	Daily
URTY · ProShares Trust	0.12%	8,593 NS	May 31, 2026	N-PORT
VGT · VANGUARD WORLD FUND	0.09%	3,082,963 SH	Aug. 8, 2026	Daily
EBIT · Harbor ETF Trust	0.09%	195 NS	April 30, 2026	N-PORT
WSML · iShares Trust	0.09%	14,325 SH	Aug. 8, 2026	Daily
SMLF · iShares Trust	0.09%	90,625 SH	Aug. 8, 2026	Daily
AVMC · AMERICAN CENTURY ETF TRUST	0.08%	6,747 NS	May 31, 2026	N-PORT
KNCT · Invesco Exchange-Traded Fund Trust	0.07%	2,859 SH	Aug. 8, 2026	Daily
IWR · iShares Trust	0.07%	941,478 SH	Aug. 8, 2026	Daily
MSSM · MORGAN STANLEY PATHWAY FUNDS	0.06%	8,633 NS	May 31, 2026	N-PORT
HDG · ProShares Trust	0.05%	216 NS	May 31, 2026	N-PORT
DFAC · Dimensional ETF Trust	0.05%	401,237 NS	April 30, 2026	N-PORT
RWK · Invesco Exchange-Traded Fund Trust …	0.05%	15,585 SH	Aug. 8, 2026	Daily
IGM · iShares Trust	0.04%	109,774 SH	Aug. 8, 2026	Daily
DCOR · Dimensional ETF Trust	0.04%	21,802 NS	April 30, 2026	N-PORT
VONG · VANGUARD SCOTTSDALE FUNDS	0.03%	366,479 SH	Aug. 8, 2026	Daily
QRFT · Exchange Listed Funds Trust	0.03%	81 NS	April 30, 2026	N-PORT
IWF · iShares Trust	0.03%	872,110 SH	Aug. 8, 2026	Daily
DFSU · Dimensional ETF Trust	0.03%	10,108 NS	April 30, 2026	N-PORT
ONEQ · Fidelity Commonwealth Trust	0.03%	56,683 NS	May 31, 2026	N-PORT
IUSG · iShares Trust	0.02%	205,419 SH	Aug. 8, 2026	Daily
FNDB · SCHWAB STRATEGIC TRUST	0.02%	5,899 NS	May 31, 2026	N-PORT
VTI · VANGUARD INDEX FUNDS	0.02%	7,779,710 SH	Aug. 8, 2026	Daily
VONE · VANGUARD SCOTTSDALE FUNDS	0.02%	38,111 SH	Aug. 8, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.02%	19,619 SH	Aug. 8, 2026	Daily
ESGV · VANGUARD WORLD FUND	0.02%	52,286 SH	Aug. 8, 2026	Daily
DFAU · Dimensional ETF Trust	0.02%	40,566 NS	April 30, 2026	N-PORT
DFUS · Dimensional ETF Trust	0.02%	67,307 NS	April 30, 2026	N-PORT
TILT · FlexShares Trust	0.02%	6,622 NS	April 30, 2026	N-PORT
DFUV · Dimensional ETF Trust	0.02%	47,058 NS	April 30, 2026	N-PORT
SCHB · SCHWAB STRATEGIC TRUST	0.02%	138,014 NS	May 31, 2026	N-PORT
GUSA · Goldman Sachs ETF Trust II	0.02%	7,479 NS	May 31, 2026	N-PORT
IWB · iShares Trust	0.01%	160,223 SH	Aug. 8, 2026	Daily
IWV · iShares Trust	0.01%	63,473 SH	Aug. 8, 2026	Daily
ITOT · iShares Trust	0.01%	301,223 SH	Aug. 8, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.01%	192,249 SH	Aug. 8, 2026	Daily
AVLC · AMERICAN CENTURY ETF TRUST	0.01%	1,802 NS	May 31, 2026	N-PORT
AVSU · AMERICAN CENTURY ETF TRUST	0.00%	279 NS	May 31, 2026	N-PORT
CLSE · Trust for Professional Managers	-0.27%	-34,577 NS	May 31, 2026	N-PORT

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Institutional owners (13F) 619 filers · $7.4B total · As of June 30, 2026

Company insiders 63 insiders · 37 officers · 23 directors

Activists & 5%+ owners 3 positions

ETF ownership Held by 83 ETFs