Viavi Solutions (NASDAQ:VIAV – Get Rating) updated its first quarter 2023 earnings guidance on Friday. The company provided EPS guidance of $0.22-$0.24 for the period, compared to the consensus EPS estimate of $0.23. The company issued revenue guidance of $317.00 million-$331.00 million, compared to the consensus revenue estimate of $326.70 million.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Susquehanna Bancshares dropped their target price on Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a research report on Friday, August 12th. StockNews.com upgraded Viavi Solutions from a buy rating to a strong-buy rating in a report on Monday, August 15th. Susquehanna lowered their price target on Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a report on Friday, August 12th. JPMorgan Chase & Co. lowered their price target on Viavi Solutions from $18.00 to $15.00 and set a neutral rating on the stock in a report on Thursday, July 14th. Finally, Needham & Company LLC cut Viavi Solutions from a buy rating to a hold rating in a report on Tuesday, July 19th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $17.80.
Get Viavi Solutions alerts:Viavi Solutions Price Performance
Shares of NASDAQ:VIAV opened at $13.24 on Friday. The business's fifty day moving average price is $14.53 and its two-hundred day moving average price is $14.57. The stock has a market cap of $3.00 billion, a PE ratio of 264.80 and a beta of 0.77. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.42 and a current ratio of 2.72. Viavi Solutions has a one year low of $12.65 and a one year high of $18.14.
Viavi Solutions (NASDAQ:VIAV – Get Rating) last announced its earnings results on Thursday, August 11th. The communications equipment provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The firm had revenue of $335.30 million for the quarter, compared to analysts' expectations of $320.62 million. Viavi Solutions had a return on equity of 23.68% and a net margin of 1.20%. Viavi Solutions's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, analysts forecast that Viavi Solutions will post 0.78 EPS for the current fiscal year.Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in VIAV. Millennium Management LLC lifted its stake in shares of Viavi Solutions by 589.4% during the 2nd quarter. Millennium Management LLC now owns 1,819,734 shares of the communications equipment provider's stock worth $24,075,000 after purchasing an additional 1,555,765 shares during the period. Capital World Investors lifted its stake in shares of Viavi Solutions by 9.6% during the 1st quarter. Capital World Investors now owns 6,830,000 shares of the communications equipment provider's stock worth $109,826,000 after purchasing an additional 598,000 shares during the period. Citadel Advisors LLC lifted its stake in shares of Viavi Solutions by 182.7% during the 2nd quarter. Citadel Advisors LLC now owns 827,810 shares of the communications equipment provider's stock worth $10,952,000 after purchasing an additional 534,999 shares during the period. Wellington Management Group LLP lifted its stake in shares of Viavi Solutions by 2.4% during the 1st quarter. Wellington Management Group LLP now owns 21,420,992 shares of the communications equipment provider's stock worth $344,451,000 after purchasing an additional 506,113 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Viavi Solutions by 80.6% during the 2nd quarter. Renaissance Technologies LLC now owns 627,000 shares of the communications equipment provider's stock worth $8,295,000 after purchasing an additional 279,900 shares during the period. Hedge funds and other institutional investors own 92.83% of the company's stock.
Viavi Solutions Company Profile
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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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