Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.16, read 2026-11-01
Ethical does not pass the values gate
Price29.38 USD
Fair value57.86
Ethical score70.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-23Read Distribution38.55-23.8% to today ✓Markup gives way to Distribution after a 6% rise in 3 weeks
2026-10-02Read Markup36.40-19.3% to today Distribution gives way to Markup after an 8% rise in 2 weeks
2026-09-16Read Distribution33.63-12.6% to today ✓Markup gives way to Distribution first Distribution read since July
2026-08-16Read Markup35.10-16.3% to today Distribution gives way to Markup after a 34% slide in 6 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Viavi Solutions Inc holds its Distribution at $29.38. Elevated stress, defensive posture warranted, held for 5 days.
As held on the ledger · 2026-11-04
Phase
Distribution · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 5 days
Price at the screen
$29.38
Valuation
N/A trailing · 16.34 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.21
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
34.72%
Below 33%
Interest-bearing debt is 34.7% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.15%
Below 33%
Cash held in interest-bearing accounts and securities is 0.2% of assets, under the one-third limit.
Pass
Receivables
34.34%
Below 49%
Money owed to the company is 34.3% of assets, under the 49% limit.
Pass
Revenue purity
1.21%
Below 5%
Only 1.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Viavi Solutions's business is in a permissible area, but its interest-bearing debt is about 35% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today VIAV does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 48% discount to our $57.86 fair value, narrow competitive moat, 52.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 49.2% discount to the base estimate.
Where our models see it going: fair-value estimate $57.86, with a range of $39.60 to $60.10, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Network monitors face a profitability wall
Picture a contractor hired to check every cable after each storm. That is Viavi, selling test gear to keep telecom and defence networks running. Revenue has jumped 43 percent, yet the firm still posts a negative 4 percent profit margin and minus 7 percent return on equity.
We pass. The shares trade at 29.7 times forward earnings against a narrow moat and an opportunity rating of none, even though our fair value sits 29 percent above the current 38 dollar price. Strong buy notes from seven analysts do not change the fact that growth has yet to reach the bottom line.
Risk sits in the execution gap. A cyclical equipment business can keep posting revenue gains while margins stay thin if spending from carriers slows. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
VIAV trades on NASDAQ. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Distribution$30.05+0.4%Entry 16
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-03Distribution$29.92+0.0%Entry 15
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Distribution$29.92+0.0%Entry 14
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Distribution$29.92-6.1%Entry 13
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31Distribution$31.88+0.0%Entry 12
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Distribution$31.88+0.0%Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Distribution$31.88+0.0%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Distribution$31.88-17.3%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 17.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 13% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64.
2026-10-16Markup$38.55+5.9%Entry 7
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 107% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 392%. Our forward projection puts the odds of a 10% gain over the next month near 52%. The street (7 analysts) rates it strong buy, with a mean price target of $64.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.