Viavi Solutions (VIAV): Service Provider Market Remains A Problem - Needham
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Needham & Company analyst, Alex Henderson, reiterated his Hold rating on Viavi Solutions (NASDAQ: VIAV) and believes the company has made it pretty clear that the Service Provider spending looks soft, and the recent M&A activity in the space is making this weakness likely persistent into CY1H17.
This is not a Viavi-specific problem but a broad one for all Service Provider oriented companies. That said, Viavi is heavily skewed to these Service Providers.
Investors in VIAV are likely to see some share price stability from $115MM left on the $150MM buyback. Viavi has 3.4MM shares of LITE left, down from 12MM at the spin. On OSP, Viavi lowered expectations for the next several quarters as programs have stretched. Longer term, the OSP outlook remains healthy.
The analyst does not have a published price target on shares of VIAV.
Shares of Viavi Solutions closed at $7.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on ChannelAdvisor (ECOM) After Meeting with Management
- Sigma Designs (SIGM): Revenue Headwinds Drive PT Cut - Baird
- Newell Brands (NWL): Cutting PT - Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!