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Fly News Breaks for October 31, 2019
LITE
Oct 31, 2019 | 16:14 EDT
Piper Jaffray analyst Troy Jensen said Lumentum beat expectations "across the board" in Q1, powered by outperformance in 3D sensing, calling the company's record gross margin of 45.8% the "biggest surprise" about the quarter. A strong outlook for 3D sensing, sustained strength in telco optics and a "hopeful rebound" in industrial lasers leads Jensen to keep an Overweight rating and $72 price target on Lumentum shares.
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