Viavi: A Spot of Selling, Darling

One gathers Mr. Oleg Khaykin, the perfectly capable CEO of Viavi Solutions, felt the need to lighten his portfolio. A mere $1.9 million worth of shares, casually deposited onto the market on February 6th. Really, a trifle. Though the SEC Form 4 does make it frightfully official, doesn’t it? 70,566 shares. One suspects he’s not exactly impoverished.

A Little Digging

Metric Value
Shares Sold (Direct) 70,566
Transaction Value ~$1.9 million
Remaining Direct Shares 1,708,871
Indirect Shares (Spouse) 40,238
Direct Stake Value ~$45.1 million

The weighted average price, a dull detail, was $26.27. Market close on the 6th? $26.38. One really does wish people would be a bit more decisive. Still, perfectly respectable figures.

The Questions, Darling, The Questions

  • Is this a pattern, or a whim? Apparently, Mr. Khaykin’s sales are rather consistent. A median of 72,004 shares over the past year. So, not a panic, merely a… rationalization. How dreadfully predictable.
  • What remains of the empire? A substantial 1,708,871 shares directly, and a mere 40,238 through the spouse. A direct stake of $45.1 million. One can’t help but think he’s still rather comfortably situated. 76.6% of what he held at the start of the period, which, frankly, sounds like a perfectly sensible level of retention.
  • Any shenanigans? No gifts, no withholdings, no complicated schemes. Just a straightforward sale. One is almost disappointed.
  • The market, of course… Viavi closed at $26.38. A 106.1% increase over the last twelve months. One begins to suspect they’re doing something right, or at least benefiting from a rising tide.

A Brief Company Portrait

Metric Value
Market Capitalization $6.10 billion
Revenue (TTM) $1.24 billion
Net Income (TTM) -$41.70 million
1-Year Price Change 106.10%

*The 1-year price change is calculated as of February 6th. A rather precise date, don’t you think?

Viavi, for those unfamiliar, provides network testing and monitoring solutions. Instruments, software, optical security… all frightfully technical, naturally. They cater to communications providers, enterprises, and government agencies. A diversified client base is always a plus, though one does wonder if they’re not simply selling shovels in a gold rush.

What Does it All Mean?

Honestly? Not a great deal. Mr. Khaykin’s sale doesn’t scream impending doom. He’s still holding a substantial stake. The shares are at a multi-year high – a peak of $26.83 on February 4th, just before his little disposal. One suspects he simply decided to take a profit. Perfectly understandable, darling.

The company is performing well, with a 36% year-over-year revenue growth in the fiscal second quarter. Though, rather inconveniently, they’re still operating at a loss. A net loss of $48.1 million. Still, an improvement of over 600% over the previous year. One can’t have everything, can one?

The price-to-sales ratio is nearly five – at a multi-year high. A good time to sell, perhaps, but decidedly not the moment to buy. A perfectly logical conclusion, wouldn’t you agree?

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2026-02-07 20:19