B. Riley Comments on Viavi Solutions Inc.’s Q4 2023 Earnings (NASDAQ:VIAV)

Viavi Solutions Inc. (NASDAQ:VIAVGet Rating) – Stock analysts at B. Riley reduced their Q4 2023 earnings per share estimates for shares of Viavi Solutions in a report issued on Wednesday, September 14th. B. Riley analyst D. Kang now anticipates that the communications equipment provider will post earnings of $0.22 per share for the quarter, down from their previous estimate of $0.23. The consensus estimate for Viavi Solutions’ current full-year earnings is $0.79 per share.

Viavi Solutions (NASDAQ:VIAVGet Rating) last posted its earnings results on Thursday, August 11th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Viavi Solutions had a return on equity of 23.68% and a net margin of 1.20%. The business had revenue of $335.30 million during the quarter, compared to the consensus estimate of $320.62 million. During the same period in the previous year, the business earned $0.16 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis.

Other analysts also recently issued reports about the company. Needham & Company LLC downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Morgan Stanley upped their price objective on Viavi Solutions from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Wednesday. Susquehanna Bancshares reduced their price objective on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, August 12th. Susquehanna reduced their price objective on Viavi Solutions from $20.00 to $18.00 and set a “positive” rating for the company in a research note on Friday, August 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Viavi Solutions from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, July 14th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.80.

Viavi Solutions Stock Down 1.8 %

Viavi Solutions stock opened at $13.93 on Friday. Viavi Solutions has a fifty-two week low of $12.65 and a fifty-two week high of $18.14. 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 $3.15 billion, a P/E ratio of 278.60 and a beta of 0.77. The stock has a 50-day simple moving average of $14.51 and a 200-day simple moving average of $14.66.

Hedge Funds Weigh In On Viavi Solutions

A number of large investors have recently modified their holdings of the business. Summit Global Investments purchased a new position in shares of Viavi Solutions during the 2nd quarter worth approximately $407,000. ExodusPoint Capital Management LP grew its holdings in shares of Viavi Solutions by 296.2% in the 2nd quarter. ExodusPoint Capital Management LP now owns 415,319 shares of the communications equipment provider’s stock worth $5,495,000 after acquiring an additional 310,493 shares during the period. Captrust Financial Advisors grew its holdings in shares of Viavi Solutions by 11.1% in the 2nd quarter. Captrust Financial Advisors now owns 18,202 shares of the communications equipment provider’s stock worth $241,000 after acquiring an additional 1,814 shares during the period. United Services Automobile Association acquired a new stake in shares of Viavi Solutions in the 2nd quarter worth approximately $326,000. Finally, Woodline Partners LP grew its holdings in shares of Viavi Solutions by 78.2% in the 2nd quarter. Woodline Partners LP now owns 2,078,776 shares of the communications equipment provider’s stock worth $27,502,000 after acquiring an additional 911,940 shares during the period. 92.83% of the stock is owned by hedge funds and other institutional investors.

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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