Viavi Solutions (VIAV 1.10%), a leader in network testing and security, saw a key insider trim their stake amid strong one-year stock gains.
On Feb. 9, 2026, Oleg Khaykin, President & CEO of Viavi Solutions, executed a direct open-market sale of 73,250 shares, representing a transaction value of ~$1.9 million according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 73,250 |
| Transaction value | $1,922,812.50 |
| Post-transaction shares (direct) | 1,635,621 |
| Post-transaction shares (indirect) | 40,238 |
Transaction value based on SEC Form 4 reported price ($26.25); post-transaction value based on Feb. 9, 2026 market close ($27.62).
Key questions
- How did this transaction affect Mr. Khaykin's ownership stake?
This direct sale reduced Mr. Khaykin’s direct holdings by 4.19%, leaving him with 1,635,621 shares held directly and 40,238 shares held indirectly, maintaining an aggregate insider ownership of 0.71% as of Feb. 9, 2026. - Was the sale size typical compared to Mr. Khaykin’s recent activity?
The 73,250-share sale closely matches the median direct sale size (73,250 shares) of his seven open-market sales since August 2025, indicating a consistent transaction pattern. - What portion of shares remain available for future transactions?
After this transaction, approximately 73% of Mr. Khaykin’s direct ownership position as of August 2025 remains, with each recent sale incrementally reducing available capacity for future dispositions. - How does the transaction value compare to the stock's market context?
The sale was executed at around $26.25 per share, while the closing price on Feb. 9, 2026 was $27.62, a level reflecting a 119.6% one-year total return, underscoring a sale into strength following substantial share price appreciation.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2/9/26) | $27.62 |
| Market capitalization | $6.32 billion |
| Revenue (TTM) | $1.24 billion |
| 1-year price change | 119.60% |
* 1-year performance calculated using Feb. 9, 2026 as the reference date.
Company snapshot
- Viavi Solutions provides network test, monitoring, and assurance solutions, including instruments, software, and optical security products, across three business segments: Network Enablement, Service Enablement, and Optical Security and Performance Products.
- It generates revenue through the sale of hardware, software, and services for network design, activation, monitoring, and optimization, as well as optical security solutions for anti-counterfeiting and industrial markets.
- The company serves communications service providers, enterprises, network equipment manufacturers, OEMs, governments, and avionics customers globally.
Viavi Solutions is a leading provider of network testing and assurance solutions with a global customer base across telecommunications, enterprise, and government sectors. The company leverages a diversified product portfolio and nearly a century of operational history to address complex network performance and security needs.
What this transaction means for investors
CEO Oleg Khaykin’s sale of 73,250 shares is not a red flag or cause for concern. After the transaction, he still had over 1.6 million directly-held shares, demonstrating he’s not in a rush to sell.
His disposition at this time makes sense given Viavi stock is up. Shares hit a 52-week high of $28.15 on Feb. 12, just days after Mr. Khaykin’s sale.
The stock’s performance reflects Viavi’s strong business results. It reported revenue of $369.3 million in its fiscal second quarter ended December 27, 2025. This represented impressive 36% year-over-year growth.
The company is doing well thanks to strong demand from the data center, aerospace and defense sectors. With the artificial intelligence boom, data centers, in particular, are in need of Viavi’s offerings, helping to reduce the company’s reliance on the telecommunications sector.
However, because its stock has soared, Viavi’s share price valuation is at a multi-year high, as evidenced by its price-to-sales ratio of about five. This means now is a good time to sell the stock, but wait for the price to drop before deciding to buy.
