Meaning

Guru (Master/Teacher) is Brahman,

Guru is Lord Vishnu & Guru is  Maheshwara (Lord Shankara);

In fact Guru is the form of Par-Brahman,

Ours all salutations for the Guru.

Meaning of Terms

गुरुः = Guru (Master/Teacher) is

ब्रह्मा = Brahman,

 गुरुः = Guru (Master/Teacher) is

विष्णुः =  Lord Vishnu,

 गुरुः = Guru (Master/Teacher) is

देवः = Lord

 महेश्वरः= Shiva, Shankar
गुरुः = Guru (Master/Teacher) is

साक्षात् =  in fact

परब्रह्म = Ultimate Reality

तस्मै = for (tha)t

श्रीगुरवे = Guru (Master/Teacher)

नमः = Ours all Salutations.