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

Viavi Solutions (NASDAQ:VIAVGet Rating) updated its FY 2023 earnings guidance on Wednesday. The company provided EPS guidance of $0.90-$1.00 for the period, compared to the consensus EPS estimate of $0.96. The company issued revenue guidance of $1.26 billion-$1.33 billion, compared to the consensus revenue estimate of $1.31 billion.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Susquehanna dropped their price objective 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. Susquehanna Bancshares dropped their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of Viavi Solutions from $18.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, July 14th. Needham & Company LLC lowered shares of Viavi Solutions from a buy rating to a hold rating in a research report on Tuesday, July 19th. Finally, Morgan Stanley increased 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 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 stock. According to data from MarketBeat, Viavi Solutions currently has an average rating of Moderate Buy and an average target price of $17.80.

Viavi Solutions Stock Down 1.7 %

Shares of NASDAQ VIAV traded down $0.22 during mid-day trading on Friday, reaching $13.07. The company had a trading volume of 77,088 shares, compared to its average volume of 1,862,285. The stock has a fifty day moving average of $14.54 and a two-hundred day moving average of $14.59. 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 capitalization of $2.96 billion, a price-to-earnings ratio of 265.80 and a beta of 0.77. Viavi Solutions has a 12-month low of $12.65 and a 12-month high of $18.14.

Viavi Solutions (NASDAQ:VIAVGet Rating) last posted its quarterly earnings results on Thursday, August 11th. The communications equipment provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $335.30 million during the quarter, compared to analyst estimates of $320.62 million. Viavi Solutions had a net margin of 1.20% and a return on equity of 23.68%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, equities research analysts expect that Viavi Solutions will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Viavi Solutions

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC acquired a new position in Viavi Solutions during the second quarter valued at approximately $140,000. Evergreen Capital Management LLC acquired a new stake in shares of Viavi Solutions in the first quarter worth $188,000. PDT Partners LLC acquired a new stake in shares of Viavi Solutions in the first quarter worth $191,000. Mariner LLC acquired a new stake in shares of Viavi Solutions in the first quarter worth $200,000. Finally, LPL Financial LLC grew its stake in shares of Viavi Solutions by 35.3% in the second quarter. LPL Financial LLC now owns 15,987 shares of the communications equipment provider’s stock worth $212,000 after acquiring an additional 4,169 shares during the last quarter. 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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