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AAOI

Applied Optoelectronics

$21.63

0.19 (0.89%)

, FN

Fabrinet

$44.99

0.28 (0.63%)

06:38
10/05/16
10/05
06:38
10/05/16
06:38

Piper recommends exposure to optical component names

Piper Jaffray analyst Troy Jensen raised his estimates for all companies in his optical component coverage saying strength in optical demand will continue. Consensus estimates don't reflect the magnitude and sustainability of 100G cycle, Jensen tells investors in a research note. He recommends investors get exposure to the group. The analyst raised his price target for Applied Optoelectronics (AAOI) to $27 from $24, for Fabrinet (FN) to $53 from $50, for Finisar (FNSR) to $38 from $31, for Lumentum (LITE) to $47 from $38, for NeoPhotonics (NPTN) to $20 from $17 and for Oclaro (OCLR) to $10.50 from $9. Jensen has Overweight ratings on all six names.

AAOI

Applied Optoelectronics

$21.63

0.19 (0.89%)

FN

Fabrinet

$44.99

0.28 (0.63%)

FNSR

Finisar

$29.86

0.42 (1.43%)

LITE

Lumentum

$42.12

0.67 (1.62%)

NPTN

NeoPhotonics

$16.04

-0.08 (-0.50%)

OCLR

Oclaro

$8.79

0.07 (0.80%)

  • 08

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AAOI Applied Optoelectronics
$21.63

0.19 (0.89%)

09/07/16
ROTH
09/07/16
NO CHANGE
Target $23
ROTH
Buy
Applied Optoelectronics price target raised to $23 from $18.30 at Roth Capital
Roth Capital analyst Brian Alger raised his price target for Applied Optoelectronics to $23 from $18.30 after the company announced that it now expects to report "substantially better" results for the September quarter. The analyst reiterates a Buy rating on the shares.
09/07/16
PIPR
09/07/16
NO CHANGE
Target $24
PIPR
Overweight
Applied Optoelectronics price target raised to $24 from $19 at Piper Jaffray
Piper Jaffray analyst Troy Jensen raised his price target for Applied Optoelectronics to $24 saying the company last night revised September quarter expectations "meaningfully" above consensus. The analyst believes Applied is in a position to see "impressive growth over the next several quarters as demand for 100G optics continues to inflect." He reiterates an Overweight rating on the shares.
08/25/16
CHLM
08/25/16
NO CHANGE
Target $23
CHLM
Buy
Applied Optoelectronics price target raised to $23 from $18 at Craig-Hallum
Craig-Hallum analyst Richard Shannon raised his price target for Applied Optoelectronics (AAOI) to $23 from $18 after it announced a third data center customer, which he believes is Facebook (FB). Shannon says the company is the only one he knows of that is shipping 100G Datacom modules to more than one hyperscale cloud operator. Further, he believes that the 100G QSFP28 market will start to inflect by Q4 and Applied Optoelectronics has the largest exposure to this market driver. The analyst reiterates a Buy rating on Applied Optoelectronics' shares.
09/07/16
COWN
09/07/16
NO CHANGE
Target $28
COWN
Outperform
Applied Optoelectronics price target raised to $28 from $21 at Cowen
Cowen analyst Paul Silverstein raised his price target on Applied Optoelectronics to $28 from $21 after the company raised its guidance. The analyst said the company remains one of his top three picks and reiterated his Outperform rating on Applied Optoelectronics shares.
FN Fabrinet
$44.99

0.28 (0.63%)

08/18/16
NEED
08/18/16
NO CHANGE
NEED
Nokia, Alcatel-Lucent win positive for optical component companies, says Needham
Needham analyst Alex Henderson says that Alcatel-Lucent (ALU)/Nokia (NOK) announcement of a major contract win to build over 30% share of China Mobile's (CHL) 2016-2017 new construction of optical network is also a major positive for optical component companies such as Oclaro (OCLR), NeoPhotonics (NPTN), Fabrinet (FN), Lumentum (LITE), Inphi (IPHI), and Acacia (ACIA). Henderson thinks this is likely the first of three major awards in China, which will likely result in the current sold-out conditions in the coherent optical market to stretch out well into 2017.
07/25/16
NEED
07/25/16
NO CHANGE
Target $48
NEED
Buy
Fabrinet price target raised to $48 from $45 at Needham
Needham analyst Alex Henderson raised his price target for Fabrinet (FN) to $48 from $45 and "solidly" recommends buying the stock as he thinks the company can deliver 30% plus growth with a slight bias to improving margins. However, Henderson believes that Fabrinet is unlikely to see the same type of margin leverage or valuation improvements as Lumentum (LITE), NeoPhotonics (NPTN) and Oclaro (OCLR). Needham has a Buy rating on Fabrinet's shares.
08/16/16
PIPR
08/16/16
NO CHANGE
Target $50
PIPR
Overweight
Fabrinet price target raised to $50 from $44 at Piper Jaffray
Piper Jaffray analyst Troy Jensen raised his price target for Fabrinet to $50 saying the company reported another solid quarter with revenues and margins coming in above consensus estimates. The analyst reiterates an Overweight rating on the shares.
08/16/16
NEED
08/16/16
NO CHANGE
Target $54
NEED
Buy
Fabrinet price target raised to $54 from $48 at Needham
Needham analyst Alex Henderson raised his price target for Fabrinet (FN) to $54 from $48 following the company's better than expected quarterly results and "sharp raise" to guidance. The analyst expects further beat and raise quarters with visibility well out into the first half of 2017. Moreover, Henderson believes the news flow reads through to NeoPhotonics (NPTN), Oclaro (OCLR), and Lumentum (LITE). He reiterates a Buy rating on Fabrinet's shares.
FNSR Finisar
$29.86

0.42 (1.43%)

09/09/16
09/09/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chesapeake (CHK) upgraded to Buy from Hold at Wunderlich with analyst Jason Wangler saying the company's assets are performing and its balance sheet is improving. 2. GameStop (GME) upgraded to Buy from Neutral at Hilliard Lyons. 3. Finisar (FNSR) upgraded to Buy from Neutral at MKM Partners with analyst Michael Genovese saying he is "extremely upbeat on the Optical components/module industry," and Chinese demand for 10G and 100G Optical modules appears it can stay strong for multiple years. 4. Randgold (GOLD) upgraded to Buy from Neutral at UBS with the firm citing the recent pullback in the shares and the potential for a dividend raise in 2017. 5. Teekay LNG (TGP) upgraded to Outperform from Market Perform at Wells Fargo analyst Michael Webber saying the discount to net asset value and the company's progress around financing its order book make the valuation "particularly compelling." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/16
STFL
09/09/16
NO CHANGE
STFL
Finisar price target raised to $33 from $28 at Stifel
Stifel analyst Patrick Newton raised his price target on Finisar after the company reported stronger than expected results. The analyst says that "improved mix" and the company's decision to eliminate its low margin wireless business enabled it to increase its gross margin guidance to 34%, well above his 32% estimate. Newton says that his positive thesis on the company is playing out more quickly than expected, and he keeps a Buy rating on the shares.
09/09/16
CHLM
09/09/16
NO CHANGE
Target $34
CHLM
Buy
Finisar price target raised to $34 from $24 at Craig-Hallum
Craig-Hallum analyst Richard Shannon raised Finisar's price target to $34 following the solid Q1 report and guidance, that showed gross margin sequential improvement and upward earnings revision. The analyst has a Buy rating on Finisar shares.
09/09/16
MKMP
09/09/16
UPGRADE
Target $35
MKMP
Buy
Finisar upgraded to Buy from Neutral at MKM Partners
MKM Partners analyst Michael Genovese upgraded Finisar to Buy and raised its price target to $35 from $21. The analyst is "extremely upbeat on the Optical components/module industry," and said Chinese demand for 10G and 100G Optical modules appears it can stay strong for multiple years. Genovese expects Finisar to ship ROADMs into Verizon starting early in the year, and also likely into China starting late in the year and expects gross margins could be "strong-to-solid for at least several more quarters" given strong demand, tight supply, and its leadership in a few key product categories.
LITE Lumentum
$42.12

0.67 (1.62%)

08/10/16
STFL
08/10/16
NO CHANGE
STFL
Lumentum price target raised to $42 from $31 at Stifel
Stifel analyst Patrick Newton raised his price target on Lumentum after the company reported stronger than expected results. The analyst says that the company's investments in new capacity should allow it to "fully capitalize on growth trends," including China strength and the 10G metro rollout, by the end of the year. He notes that the company's margins improved significantly and he keeps a Buy rating on the shares.
08/11/16
MSCO
08/11/16
DOWNGRADE
MSCO
Underweight
Lumentum downgraded to Underweight from Equal Weight at Morgan Stanley
NPTN NeoPhotonics
$16.04

-0.08 (-0.50%)

09/09/16
CHLM
09/09/16
NO CHANGE
Target $22
CHLM
Buy
NeoPhotonics price target raised to $22 from $17 at Craig-Hallum
Craig-Hallum analyst Richard Shannon raised NeoPhotonics' price target to $22 from $17 following yesterday's upbeat analyst event. Shannon said the most important takeaway was the 25% CAGR growth outlook over the next three years, which is well above consensus. The analyst has a Buy rating on NeoPhotonics shares.
09/06/16
NEED
09/06/16
NO CHANGE
Target $20
NEED
Strong Buy
Needham remains a buyer of NeoPhotonics ahead of analyst day
Needham analyst Alex Henderson believes NeoPhotonics (NPTN) is "exceptionally well positioned" for strong results over the next 3-4 quarters. The analyst "aggressively recommends" investors Buy NeoPhotonics' shares before the company's analyst day on September 8. Further, Henderson thinks Acacia's (ACIA) over $4B market cap will likely drive them to be acquisitive, and notes that it may seek to reduce costs as a percent of revenues by a potential acquisition of, for example, NeoPhotonics or Oclaro (OCLR). He reiterates a Strong Buy rating and $20 price target on NeoPhotonics' shares.
OCLR Oclaro
$8.79

0.07 (0.80%)

10/03/16
JEFF
10/03/16
INITIATION
Target $11.25
JEFF
Buy
Oclaro initiated with a Buy at Jefferies
Jefferies analyst James Kisner initiated Oclaro with a Buy and a $11.25 price target. The analyst expects Oclaro to benefit form strong demand strong demand over the next couple of years driven by multiple secular drivers, including Verizon's metro 100G deployment in the US, China's network buildouts, and robust growth within and between data centers at Web 2.0/hyperscale companies.
09/06/16
STFL
09/06/16
NO CHANGE
STFL
Oclaro price target raised to $10 from $7.50 at Stifel
Stifel analyst Patrick Newton expects Oclaro to benefit from strong increases in demand for its 100G product. He thinks that the company's gross margins and CFP2 ACO production can beat expectations. Newton reiterates a Buy rating on the stock.
09/01/16
MKMP
09/01/16
NO CHANGE
Target $10
MKMP
Buy
Oclaro price target raised to $10 from $8 at MKM Partners
MKM Partners analsyt Michael Genovese raised Oclaro's price target to $10 following upbeat management meetings with the CEO and CFO. The analyst increased estimates and said demand is still running ahead of supply. Genovese rates Oclaro a Buy and said it remains a top pick.

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