NEW YORK, Nov 7 (Reuters) - JDS Uniphase Corp shares are a bargain after a recent sell-off, according to Barron's.
The company has cut payroll and outsourced most of its manufacturing and is poised to benefit from the hunger for high-speed Internet access, which means demand for the optical-networking components and testing equipment it makes, Barron's said.
The shares are down 13 percent after rival Infinera gave cautious forth-quarter outlook, but JDSU said it is not seeing that weakness, Barron's said.
Backing out its $620 million in cash, its shares are trading at barely more than one times expected June 2011 revenue, which makes them a steal, according to Barron's. Keywords: JDSU/ (Reporting by Helen Chernikoff; Reuters Messaging: helen.chernikoff.reuters.com@reuters.net; e-mail: helen.chernikoff@reuters.com; Tel: +1-646-223-6127) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company has cut payroll and outsourced most of its manufacturing and is poised to benefit from the hunger for high-speed Internet access, which means demand for the optical-networking components and testing equipment it makes, Barron's said.
The shares are down 13 percent after rival Infinera gave cautious forth-quarter outlook, but JDSU said it is not seeing that weakness, Barron's said.
Backing out its $620 million in cash, its shares are trading at barely more than one times expected June 2011 revenue, which makes them a steal, according to Barron's. Keywords: JDSU/ (Reporting by Helen Chernikoff; Reuters Messaging: helen.chernikoff.reuters.com@reuters.net; e-mail: helen.chernikoff@reuters.com; Tel: +1-646-223-6127) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.