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LITE

Lumentum

$59.70

-0.25 (-0.42%)

13:55
04/20/18
04/20
13:55
04/20/18
13:55

Lumentum put volume heavy and directionally bearish

Bearish flow noted in Lumentum with 2,273 puts trading, or 4x expected. Most active are Jun-18 52.5 puts and Jun-18 55 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 4.84, while ATM IV is up nearly 4 points on the day. Earnings are expected on May 2nd.

  • 02

    May

  • 29

    May

LITE Lumentum
$59.70

-0.25 (-0.42%)

04/17/18
PIPR
04/17/18
NO CHANGE
PIPR
Piper sees compelling entry levels for Lumentum and Oclaro
Yesterday's news of American suppliers being banned from shipping products to ZTE (ZTCOY) has created more compelling entry levels for a select group of optical stocks, Piper Jaffray analyst Troy Jensen tells investors in a research note. The name most impacted by the news is Acacia Communications (ACIA) with ZTE representing 30% of sales in 2017, the analyst adds. He believes the company, which he downgraded last night to Neutral, will likely not be able to recoup those losses. Names Zukin likes following yesterday's selloff are Lumentum (LITE) and Oclaro (OCLR) as Huawei represents a larger customer compared to ZTE, and he believes Huawei will gain customers at ZTE's expense. The analyst also continues to like Overweight-rated Fabrinet (FN) and II-VI (IIVI).
04/16/18
MKMP
04/16/18
NO CHANGE
MKMP
ZTE news negative for Acacia, neutral to positive for others, says MKM Partners
MKM Partners analyst Michael Genovese notes that press is reporting that ZTE Corp. (ZTDOY) is banned from purchasing U.S. technology for seven years for violating the terms of a previously settled sanctions violation case. While all component names are trading down on the news, the analyst has a more nuanced view since Huawei and Nokia (NOK) will gain share at ZTE's expense. Genovese views the news as negative for Acacia (ACIA), which had 30% revenue exposure to ZTE in 2017 and 16% in Q4. However, he thinks the news is positive for NeoPhotonics (NPTN), which has 40% exposure to Huawei and much smaller ZTE exposure, and for Nokia, which will gain some of ZTE's share. Additionally, the analyst sees the news as neutral to positive for Lumentum (LITE), Oclaro (OCLR) and Finisar (FNSR), which have significantly more Huawei and Nokia exposure than ZTE exposure.
04/16/18
LOOP
04/16/18
NO CHANGE
LOOP
ZTE ban 'bad news' for Acacia, Oclaro and Lumentum, says Loop Capital
Loop Capital analyst James Kisner noted that Acacia Communications (ACIA) sells CFP-DCO modules to ZTE (ZTOCY) and he calls the news that the U.S. has banned sales by U.S. companies to ZTE "uncategorically bad news for Acacia," which derived 30% of 2017 sales from the Chinese OEM. It is also bad news for Oclaro (OCLR), which got 18% of its sales from ZTE in the fiscal year ending June 2017, added Kisner, who currently still expects Lumentum's (LITE) acquisition of Oclaro to take place. However, he also acknowledges the greater uncertainty around the deal in light of this news.
03/22/18
UBSW
03/22/18
NO CHANGE
Target $80
UBSW
Buy
Lumentum price target raised to $80 from $62 at UBS
UBS analyst Tejas Venkatesh raised his price target for Lumentum Holdings to $80 saying strong Fundamentals should help sustain the company's "strong" growth. The analyst reiterates a Buy rating on the shares.

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14:35
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AbbVie put volume heavy and directionally bearish »

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$NYE

NYSE Market Internals

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