Viavi CEO Continues Gradual Sell‑Off Amid Bull‑Market, Leaves 1.7 M Shares Held for Future Rally

Insider Selling Continues in a Bull‑Market Context

In a routine 4‑form filing, President & CEO Oleg Khaykin sold 70,000 shares of Viavi Solutions Inc. on Feb 6, 2026 at a weighted average price of $26.30. The transaction followed a series of sales over the past month that have steadily trimmed Khaykin’s stake from just over 2 million shares to roughly 1.7 million. The total number of shares sold in the last 30 days amounts to about 170,000, a modest fraction of the 1.4 billion‑share float, but notable given the company’s recent rally.

What This Means for Investors

The timing of the sales—when the stock closed at $25.32 and then surged to $26.84 on Feb 3—suggests the CEO is taking advantage of a high valuation rather than reacting to a decline. The 52‑week high is only a few points away, and the shares are trading at a premium to the 12‑month average. For shareholders, the sell orders are unlikely to exert downward pressure on the price; instead, they reinforce confidence that the CEO believes the current valuation is justified. That said, the continued sales do add a layer of scrutiny for investors concerned about insider confidence and long‑term alignment.

Khaykin’s Trading Profile

Khaykin’s transaction history over the last year shows a pattern of periodic, moderate‑sized sales. From December 2025 through February 2026, he has sold roughly 500,000 shares in total, averaging about 30,000 shares per week. His most recent sales (Feb 4 and 5) were at prices in the mid‑$26 range, aligning with the market peak. Importantly, Khaykin has not made any purchases of Viavi stock in the past year, indicating a net‑divesting stance. However, his holdings remain substantial—over 1.7 million shares—providing significant upside exposure should the stock continue to climb.

Industry and Company Context

Viavi’s broader fundamentals paint a mixed picture. The company’s negative earnings (P/E of –137) and heavy reliance on data‑center demand signal profitability challenges, yet its recent quarterly guidance hit the high end of expectations, buoyed by robust demand for optical and testing solutions. The market’s recent surge, coupled with strong social‑media buzz (158 % activity) and a neutral sentiment (+3), suggests that the market is still optimistic about the company’s growth trajectory. For investors, Khaykin’s selling may be interpreted as a tactical liquidity move rather than a signal of deteriorating fundamentals.

Bottom Line for Investors

• Short‑term impact: Minimal, as the volume of shares sold is small relative to the float.
• Long‑term view: Khaykin’s consistent divestiture pattern may prompt investors to reassess their confidence in the CEO’s outlook, but his holdings still represent a sizable bet on Viavi’s upside.
• Strategic take‑away: Monitor the next quarterly results and any further insider activity; if the CEO continues to trim holdings while the company meets guidance, it could be a green light for a sustained rally.