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VIAV $8.09

VIAV target price
8.09
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Viavi Solutions
Type
Public
Traded as NASDAQ: VIAV
S&P 600 Component
Predecessor
  • JDSU
Founded 2015
Headquarters 6001 America Center Dr
San Jose, CA 95002
Key people
Richard Belluzzo, Chairman
Oleg Khaykin, President and CEO
Revenue
  • Increase US$ 906.3 million (2015)
  • Decrease US$ 873.9 million (2014)
Number of employees
3,000 (2016)
Website viavisolutions.com

Viavi Solutions, formerly part of JDS Uniphase (JDSU), is a Milpitas, California-based network test, measurement and assurance technology company. The company manufactures testing and monitoring equipment for networks. It also develops optical technology used for a range of applications including material quality control, currency anti-counterfeiting and 3D motion sensing, including Microsoft's Kinect video game controller.

The company was spun off from JDSU when the company divided itself up in August 2015.

Viavi Solutions' history dates back to 1979 when Uniphase was started in a San Jose, California garage, as a manufacturer of lasers for chip makers and scanners. Through mergers and acquisitions, the company eventually became known as JDS Uniphase, or simply JDSU. In August 2015, JDSU split into two new independent companies: Viavi Solutions and Lumentum Holdings, which was JDSU's former Communications and Commercial Optical products division.

In August 2015, after the JDSU split, former CEO Tom Waechter stepped down and Viavi Solutions appointed Richard Belluzzo as interim president and CEO.

In September 2015, the company announced the release of GigaStor Software Edition, software designed to capture packet data from software-defined networking (SDN) platforms, for purposes of performance and forensic analysis.

In February 2016, Belluzzo became Chairman and Oleg Khaykin became president and CEO. The same month, the company announced that Frontier Communications had selected Viavi's Ethernet Assurance Solution (EtherASSURE) for help with network performance management, troubleshooting and service level agreement (SLA) management. Also in February 2016, Viavi Solutions added functionality to its CellAdvisor Base Station Analyzer to allow baseband testing during tower installation, in order to reduce the number of tower climbs and improve safety. The company also announced the GEOson network automation and management tool for 4G and 5G network testing, developed with technology from earlier acquisitions of networking companies Reverb Networks and Arieso.

In March 2016, the company announced it had added a fully DOCSIS 3.1 (D3.1)-compliant signal meter to its OneExpert CATV Signal Analysis Meter, allowing service providers to test D3.1 signals in the field. Also in March 2016, the company announced MicroNIR near infrared spectrometer tools that allow quality control managers to inspect organic materials in the field.

In July 2016, the company partnered with fellow networking vendor Brocade to use Brocade's Packet Broker and Session Director tools to capture and send subscriber traffic to Viavi’s xSIGHT Targeted Subscriber Search (TSS) for analysis.

The company has three business segments: Network Enablement; Service Enablement; and Optical Security and Performance Products (OSP).

The Network Enablement segment develops testing products for broadband/IP network operators to build and maintain their networks. The products are used in lab and production environments as well as in the field. NE products are divided into wireline, wireless and lab groups. The company also produces the StrataSync cloud management platform for remote data collection and management for its equipment.

Viavi's wireline NE group consists of performance monitoring; Ethernet service assurance; and video analytics and assurance products. The company produces compact optical network field testers under the brand name T-BERD in the US, and MTS in Europe. The devices support network rates up to 100G. The company produces the OneExpert line of handheld signal meters which are used to install and troubleshoot cable service (OneExpert CATV) up to DOCSIS 3.1 (D3.1) and telco service (OneExpert xDSL) up to G.fast.

The wireless NE group includes CellAdvisor, a portable tester for testing radio frequency (RF) signals over fiber. It allows baseband testing during cell tower installation, in order to reduce the number of tower climbs and improve safety.

Lab testing equipment in the NE group includes the Optical Network Tester (ONT) product family, which is designed for testing multi-protocol and multi-rate services, for optical network elements designed to carry 100G, 400G and other high-speed optical network technologies. The group also produces the Xgig 1000, a lab-based tester for iSCSI and Fibre Channel protocols used with Storage Area Networks.

The SE segment also provides solutions and services for broadband/IP network operators, but the equipment is also designed for virtualized software-centric environments, such as with data centers.

EtherASSURE is Ethernet service assurance equipment for testing physical and virtual networks. xSIGHT is a customer service tool for mobile operators, to allow them to scale and monitor 4G and other wireless technologies. The GEOson network automation and management tool automates management of 4G and 5G networks by combining machine learning and geolocation data. The Observer family of service enablement products includes Observer Gigastor, a packet capture and analysis tool for enterprises, and Observer SightOps, a hybrid on-premises/cloud monitoring tool for enterprises. The Observer Gigastor product came from Viavi's-predecessor JDSU's 2013 acquisition of Network Instruments, and the Observer Sightops product came from a partnership with network monitoring company ScienceLogic.

The OSP segment utilizes optical coating technology and volume manufacturing capability to design, manufacture, and sell products targeting anti-counterfeiting, and advanced optics for industrial, healthcare and government markets.

The group's anti-counterfeiting products include Optically Variable Pigment (OVP) and the later generation Optically Variable Magnetic Pigment (OVMP), colors used in modern currency to create color shifting effects. The group also supports anti-counterfeiting efforts by producing hard to copy labels for pharmaceutical and consumer-electronics products.

The group's ChromaFlair color-shifting paint is used by automobile manufacturers.

The group's optical thin-film coating technology is used for light sensors; 3D sensors, used with Microsoft's Kinect video game platform; wafer level patterning; linear variable filters, and for coating large scale optics. The group also manufactures MicroNIR Spectrometers that are used in the field for real-time, non-destructive chemical and physical analysis of materials and monitoring of processes.

The group's optical products for aerospace and defense applications include optics for guidance systems, laser eye protection and signature management. The company makes optical coatings for space programs, such as the filter assembly NASA used in the OVIRS instrument for the OSIRIS-REx Mission which was sent to study a near-Earth asteroid, Bennu.

In April 2016, research firm Gartner named Viavi Solutions as a Magic Quadrant leader in the network performance monitoring and diagnostics category, for its Observer performance management platform.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2016-07-02 Downgrade B. Riley Neutral $6.75
2016-06-27 Downgrade B. Riley Buy to Neutral $6.75
2016-06-06 Reiterated Rating William Blair Buy
2016-06-06 Boost Price Target MKM Partners Buy $8.00 to $8.50
2016-05-07 Reiterated Rating B. Riley Buy $8.25
2016-05-04 Reiterated Rating JPMorgan Chase & Co. Hold
2016-05-04 Reiterated Rating William Blair Buy
2016-05-02 Reiterated Rating B. Riley Buy $8.25
2016-02-08 Reiterated Rating B. Riley Buy $8.25
2016-02-04 Reiterated Rating William Blair Outperform
2016-02-03 Boost Price Target B. Riley Buy $8.00 to $8.25
2016-01-29 Reiterated Rating B. Riley Buy $8.00
2015-11-04 Reiterated Rating B. Riley Buy $8.00
2015-11-03 Reiterated Rating William Blair Buy
2015-10-30 Reiterated Rating B. Riley Buy $8.00
2015-08-15 Reiterated Rating B. Riley Buy $8.00
2015-08-14 Reiterated Rating William Blair Outperform
2015-08-12 Reiterated Rating Jefferies Group Hold $7.00 to $6.00
2015-08-12 Lower Price Target MKM Partners Buy $8.50 to $8.00
2015-08-12 Downgrade Craig Hallum Buy to Hold $7.00
2015-08-12 Lower Price Target RBC Capital Sector Perform $8.00 to $7.00
2015-08-12 Lower Price Target Royal Bank Of Canada Sector Perform $8.00 to $7.00
2015-08-10 Downgrade RBC Capital Outperform to Sector Perform $17.00 to $8.00
2015-08-10 Lower Price Target B. Riley Buy $8.25 to $8.00
2015-08-05 Upgrade B. Riley Neutral to Buy $8.25
2015-08-04 Initiated Coverage Needham & Company LLC Hold to Hold
2015-08-03 Initiated Coverage Stifel Nicolaus Hold
2015-08-02 Upgrade B. Riley Neutral to Buy $8.25 to $12.25
2015-07-28 Reiterated Rating B. Riley Neutral $12.25
2015-07-21 Lower Price Target MKM Partners Buy $16.00 to $14.00
2015-07-13 Reiterated Rating Needham & Company LLC Buy $15.00
2015-05-20 Initiated Coverage Morgan Stanley Equal to Equal Weight $15.00
2015-05-09 Reiterated Rating Needham & Company LLC Buy $16.00 to $15.00
2015-05-09 Reiterated Rating JPMorgan Chase & Co. Neutral $13.50 to $12.50
2015-05-09 Reiterated Rating Jefferies Group Hold $14.00 to $12.50
2015-05-09 Reiterated Rating Craig Hallum Buy $15.50
2015-05-05 Reiterated Rating B. Riley Neutral $12.50 to $12.25
2015-05-01 Lower Price Target MKM Partners Buy $17.00 to $16.00
2015-05-01 Lower Price Target Piper Jaffray Neutral $12.00 to $10.00
2015-05-01 Lower Price Target Piper Jaffray Cos. Neutral $12.00 to $10.00
2015-04-28 Reiterated Rating B. Riley Neutral $12.50
2015-04-08 Reiterated Rating B. Riley Neutral $12.50
2015-03-20 Reiterated Rating Jefferies Group Hold $13.00 to $14.00
2015-02-04 Reiterated Rating B. Riley Neutral $12.50
2015-01-30 Lower Price Target Jefferies Group Hold $15.00 to $13.00
2015-01-30 Lower Price Target Barclays Equal Weight $15.00 to $14.00
2015-01-30 Lower Price Target Barclays PLC Equal Weight $15.00 to $14.00
2015-01-28 Reiterated Rating B. Riley Neutral $13.77
2014-11-17 Reiterated Rating Jefferies Group Hold $13.00 to $15.00
2014-09-12 Boost Price Target Needham & Company LLC Buy $14.50 to $16.00
2014-09-12 Boost Price Target JPMorgan Chase & Co. $11.00 to $14.00
2014-09-11 Reiterated Rating MKM Partners Buy $15.00
2014-09-11 Upgrade RBC Capital Sector Perform to Outperform $11.00 to $18.00
2014-08-13 Boost Price Target S&P Equity Research Average to Hold $0.11 to $0.24
2014-08-13 Reiterated Rating JPMorgan Chase & Co. Neutral $12.50 to $11.00
2014-08-13 Reiterated Rating Needham & Company LLC Buy $16.00 to $14.50
2014-08-13 Downgrade Piper Jaffray Overweight to Neutral $14.00 to $12.00
2014-08-13 Downgrade B. Riley Buy to Neutral $15.50 to $11.75
2014-07-02 Initiated Coverage JPMorgan Chase & Co. Neutral $12.50
2014-05-01 Reiterated Rating Stifel Nicolaus Buy $16.00
2014-05-01 Lower Price Target MKM Partners Buy $18.00 to $15.00
2014-05-01 Lower Price Target Evercore ISI $14.00
2014-05-01 Lower Price Target RBC Capital Sector Perform $15.00 to $13.00
2014-05-01 Lower Price Target Piper Jaffray $16.00 to $14.00
2014-03-28 Downgrade RBC Capital Outperform to Sector Perform $15.00
2014-03-21 Upgrade MKM Partners Neutral to Buy $15.00 to $18.00
2014-01-31 Boost Price Target MKM Partners Neutral $13.00 to $15.00
2014-01-31 Boost Price Target B. Riley Buy $17.00 to $17.50
2014-01-31 Upgrade William Blair Market Perform to Outperform
2013-11-01 Lower Price Target Stifel Nicolaus Buy $19.00 to $17.00
2013-10-31 Reiterated Rating RBC Capital Outperform $16.00
2013-10-31 Lower Price Target Needham & Company LLC Buy $18.00 to $16.00
2013-10-31 Lower Price Target Evercore ISI Equal Weight $16.00 to $15.00
2013-10-31 Downgrade Jefferies Group Buy to Hold $18.00 to $14.00
2013-10-31 Reiterated Rating Barclays Hold $16.00
2013-10-31 Lower Price Target MKM Partners Neutral $14.00 to $13.00
2013-10-04 Initiated Coverage Evercore ISI Equal Weight $17.00
2016-07-02 Downgrade B. Riley Neutral $6.75
2016-06-27 Downgrade B. Riley Buy to Neutral $6.75
2016-06-06 Reiterated Rating William Blair Buy
2016-06-06 Boost Price Target MKM Partners Buy $8.00 to $8.50
2016-05-07 Reiterated Rating B. Riley Buy $8.25

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks