Viavi Solutions (NASDAQ:VIAV) Releases Q1 2023 Earnings Guidance

Viavi Solutions (NASDAQ:VIAVGet Rating) updated its first quarter 2023 earnings guidance on Friday. 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 $317.00 million-$331.00 million, compared to the consensus revenue estimate of $326.70 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on VIAV. Needham & Company LLC lowered shares of Viavi Solutions from a buy rating to a hold rating in a research note on Tuesday, July 19th. StockNews.com raised shares of Viavi Solutions from a buy rating to a strong-buy rating in a research note on Monday, August 15th. Susquehanna reduced their price objective on shares of Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a research note on Friday, August 12th. Susquehanna Bancshares dropped their target price on shares of Viavi Solutions from $20.00 to $18.00 and set a positive rating on the stock in a research report on Friday, August 12th. Finally, Morgan Stanley boosted their target price on shares of Viavi Solutions from $16.00 to $17.00 and gave the company an equal weight rating in a research report on Wednesday, September 14th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $17.80.

Viavi Solutions Stock Down 2.6 %

Viavi Solutions stock opened at $13.29 on Friday. The company has a quick ratio of 2.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.92. Viavi Solutions has a 12-month low of $12.65 and a 12-month high of $18.14. The firm’s fifty day moving average is $14.54 and its 200 day moving average is $14.59. The company has a market capitalization of $3.01 billion, a PE ratio of 265.80 and a beta of 0.77.

Viavi Solutions (NASDAQ:VIAVGet Rating) last released its quarterly earnings data on Thursday, August 11th. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. Viavi Solutions had a net margin of 1.20% and a return on equity of 23.68%. The firm had revenue of $335.30 million for the quarter, compared to the consensus estimate of $320.62 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Viavi Solutions will post 0.78 EPS for the current fiscal year.

Institutional Trading of Viavi Solutions

Several institutional investors have recently made changes to their positions in VIAV. Millennium Management LLC grew its position in Viavi Solutions by 589.4% during 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 during the period. Capital World Investors boosted its position in Viavi Solutions by 9.6% during the first 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 boosted its position in Viavi Solutions by 182.7% during the second 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 boosted its position in Viavi Solutions by 2.4% during the first 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 holdings in shares of Viavi Solutions by 80.6% in the second quarter. Renaissance Technologies LLC now owns 627,000 shares of the communications equipment provider’s stock worth $8,295,000 after buying an additional 279,900 shares in the last quarter. Institutional investors 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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