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LITE

Lumentum

$57.25

1 (1.78%)

, OCLR

Oclaro

$9.01

0.08 (0.90%)

10:55
07/10/18
07/10
10:55
07/10/18
10:55

Oclaro to host special shareholder meeting

Special Shareholder Meeting to vote to adopt the merger agreement among Lumentum Holdings, Prota Merger Sub and Prota Merger and Oclaro will be held in San Jose, CA on July 10 at 11 am.

LITE

Lumentum

$57.25

1 (1.78%)

OCLR

Oclaro

$9.01

0.08 (0.90%)

  • 10

    Jul

LITE Lumentum
$57.25

1 (1.78%)

07/09/18
CHLM
07/09/18
NO CHANGE
Target $85
CHLM
Buy
Lumentum price target lowered to $85 from $90 at Craig-Hallum
Craig-Hallum analyst Richard Shannon lowered his price target for Lumentum (LITE) to $85 from $90, citing inventory overhang from the hard stop on Apple's (AAPL) iPhone X production, and improved module-level yields that drive temporarily lower VCSEL array bare die demand. The analyst reiterates a Buy rating on Lumentum's shares.
07/05/18
WBLR
07/05/18
NO CHANGE
WBLR
William Blair sees buying opportunity in 3D sensing names
3D sensing names were weak Tuesday following a preannouncement from BE Semiconductor Industries, William Blair analyst Dmitry Netis tells investors in a research note. The analyst, however, sees "no evidence to draw any parallel to the 3DS supply chain from the Besi preannouncement." He believes "investors are jumping to flabby conclusions, perhaps unjustly, and are overreacting to the news." With respect to Apple's (AAPL) supply chain, Netis continues to believe 3D sensing vendors, Lumentum (LITE) and Viavi (VIAV) mainly, and to lesser extent Finisar (FNSR) and II-VI (IIVI), are set to benefit from Apple's launches this fall. According to supply chain reports, Netis says, the launches will include a 3D sending camera in one low-end LCD phone and two high-end versions of an OLED phone, as well as iPad Pro. He reiterates Outperform ratings on Viavi and Finisar and sees the recent weakness as a buying opportunity.
07/02/18
PIPR
07/02/18
NO CHANGE
Target $82
PIPR
Overweight
Piper sees Lumentum being primary supplier for Apple's new iPhones
Piper Jaffray analyst Troy Jensen views Lumentum (LITE) as one of the best stocks to own in the optical group given its high relative exposure to "fast growing" markets such as 3D sensing, ROADMs and industrial lasers. The analyst believes 3D sensing demand inflects in the next few months and anticipates Lumentum will be the primary supplier for Apple's (AAPL) fall iPhone launch. Jensen thinks Apple will be including 3D sensing in all three iPhones this fall. He also continues to believe Apple will introduce 3D sensing in the upcoming iPad Pro launch and anticipates more Apple tablets and PCs will include this capability throughout 2019. Lumentum is likely qualified for Apple's upcoming launch and its share of VCSELs in new iPhones phones could be as much as 70%-75%, but the actual amount will be dependent on how much business II-VI (IIVI) will be able to supply as the likely number two supplier this year, Jensen tells investors in a research note. He reiterates an Overweight rating on Lumentum with an $82 price target. The stock closed Friday up $1.15, or 2%, to $57.90.
06/28/18
MKMP
06/28/18
NO CHANGE
Target $84
MKMP
Buy
Demand for 3D sensing is in Lumentum's favor, says MKM Partners
MKM Partners analyst Michael Genovese kept his Buy rating and $84 price target on Lumentum (LITE), saying the company's Q1 guidance is "reasonable/achievable" based on the FY19 3D unit demand, average selling prices, and market share trends. The analyst expects FY19/20 to benefit from sales of vertical-cavity surface-emitting laser technology and also anticipates "solid demand ramp" from the Android ecosystem. Genovese also contends that the market has not priced in the "significant earnings accretion" that will be realized from Lumentum's acquisition of Oclaro (OCLR).
OCLR Oclaro
$9.01

0.08 (0.90%)

05/30/18
05/30/18
DOWNGRADE

Market Perform
Fabrinet downgraded to Market Perform on customer concentration at Northland
As previously reported, Northland downgraded Fabrinet (FN) to Market Perform from Outperform with a $33 price target. Analyst Tim Savageaux sees increased risks of material manufacturing insourcing from Lumentum (LITE), its largest customer, as well as customer concentration from the Lumentum/Oclaro merger, which will result in 20-25% customer concentration.
05/21/18
NEED
05/21/18
NO CHANGE
NEED
Oclaro filing hints NeoPhotonics may have started sale process, says Needham
Needham analyst Alex Henderson said the S-4 filed by Lumentum (LITE) related to its deal to acquire Oclaro (OCLR) shows that the latter looked to make an acquisition and that company rejected the offer as insufficient but has "started a sell process." Henderson believes this unidentified company is most likely NeoPhotonics (NPTN), he tells investors. He also noted that the S-4 shows another bidder other than Lumentum offered $9 per share in cash for Oclaro, which he believes is likely Finisar (FNSR), adding that "this potential Oclaro acquirer would likely be interested in NeoPhotonics, in our opinion."
04/25/18
NEED
04/25/18
NO CHANGE
NEED
Full ban of sales to Huawei 'highly improbable,' says Needham
Needham analysts Alex Henderson and N. Quinn Bolton said they sees the chances of an outright ban of sales to Huawei as "extremely low," adding that it is their understanding the probe into Huawei has been ongoing for the last two years while noting that the ZTE probe took over five years to complete. The ironic impact of any escalation in trade tension could be an increase in demand from Huawei to build an inventory buffer should there be a supply disruption, added the analysts, who also say they would not be surprised to see a trade agreement with China include a resolution of the ZTE (ZTCOY) ban and possibly an agreement on the scope of action against Huawei.

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