Viavi Solutions (NASDAQ:VIAV – Get Rating) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.22-0.24 for the period, compared to the consensus estimate of $0.23. The company issued revenue guidance of $317-331 million, compared to the consensus revenue estimate of $326.70 million.

Analyst Ratings Changes

Several brokerages have recently commented on VIAV. Susquehanna Bancshares lowered their target price on shares of Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a report on Friday, August 12th. StockNews.com raised shares of Viavi Solutions from a buy rating to a strong-buy rating in a report on Monday, August 15th. Needham & Company LLC cut shares of Viavi Solutions from a buy rating to a hold rating in a report on Tuesday, July 19th. Susquehanna lowered their target price on shares of Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a report on Friday, August 12th. Finally, Morgan Stanley increased their price target on shares of Viavi Solutions from $16.00 to $17.00 and gave the stock an equal weight rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $17.80.

Viavi Solutions Price Performance

Shares of NASDAQ VIAV traded down $0.34 during trading hours on Friday, hitting $13.84. 34,081 shares of the stock were exchanged, compared to its average volume of 1,595,940. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.42 and a current ratio of 2.72. The company has a market cap of $3.13 billion, a PE ratio of 283.60 and a beta of 0.77. The company's fifty day simple moving average is $14.50 and its two-hundred day simple moving average is $14.67. Viavi Solutions has a 1-year low of $12.65 and a 1-year high of $18.14.

Institutional Trading of Viavi Solutions

A number of hedge funds have recently added to or reduced their stakes in VIAV. Millennium Management LLC boosted its position in Viavi Solutions by 589.4% in the second quarter. Millennium Management LLC now owns 1,819,734 shares of the communications equipment provider's stock valued at $24,075,000 after buying an additional 1,555,765 shares in the last quarter. Capital World Investors boosted its position in Viavi Solutions by 9.6% in the first quarter. Capital World Investors now owns 6,830,000 shares of the communications equipment provider's stock valued at $109,826,000 after buying an additional 598,000 shares in the last quarter. Citadel Advisors LLC boosted its position in Viavi Solutions by 182.7% in the second quarter. Citadel Advisors LLC now owns 827,810 shares of the communications equipment provider's stock valued at $10,952,000 after buying an additional 534,999 shares in the last quarter. Wellington Management Group LLP boosted its position in Viavi Solutions by 2.4% in the first quarter. Wellington Management Group LLP now owns 21,420,992 shares of the communications equipment provider's stock valued at $344,451,000 after buying an additional 506,113 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Viavi Solutions by 80.6% in the second quarter. Renaissance Technologies LLC now owns 627,000 shares of the communications equipment provider's stock valued at $8,295,000 after buying an additional 279,900 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company's stock.

About Viavi Solutions

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Viavi Solutions Inc provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, original equipment manufacturers, government, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments.

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