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LITE

Lumentum

$59.30

-0.05 (-0.08%)

, VIAV

Viavi

$10.39

-0.09 (-0.86%)

07:17
07/19/18
07/19
07:17
07/19/18
07:17

JPMorgan raises 3D Sensing estimates for Lumentum, Viavi

JPMorgan analyst Samik Chatterjee raised his 3D Sensing estimates for both Neutral-rated Lumentum (LITE) and Underweight-rated Viavi (VIAV) to reflect higher market share than previously modeled for both on the upcoming launches of the Apple (AAPL) iPhone and accelerated adoption of 3D Sensing across Apple's portfolio of devices. JPMorgan's technology team's channel checks on Apple's 3D Sensing supply chain have indicated limited new suppliers for the 3D Sensing module, making it more likely that the leaders on the iPhoneX hold onto strong market share positions for longer than previously anticipated, Chatterjee tells investors in a research note. Further, the analyst now believes there is greater visibility into the adoption of 3D Sensing on all three iPhone models and two iPad Pro models to be launched by Apple in the second half of 2018. Chatterjee upped his price target for Lumentum to $80 from $78 and for Viavi to $11 from $10.

LITE

Lumentum

$59.30

-0.05 (-0.08%)

VIAV

Viavi

$10.39

-0.09 (-0.86%)

AAPL

Apple

$190.43

-1.12 (-0.58%)

  • 31

    Jul

  • 14

    Aug

LITE Lumentum
$59.30

-0.05 (-0.08%)

07/18/18
PIPR
07/18/18
NO CHANGE
PIPR
Piper 'incrementally more upbeat' on Optical sector into earnings
Piper Jaffray analyst Troy Jensen is "incrementally more upbeat" on the Optical sector and believes investors "need to revisit the group" ahead of the June quarter earnings results. The set up for traditional optical component suppliers has improved with the industry now five quarters into the correction that started in March 2017, Jensen tells investors in a research note. This has created easy comps while growth rates should accelerate in the second half of 2018, the analyst adds. His favorite Overweight-rated names are Lumentum (LITE), II-VI (IIVI) and Fabrinet (FN). Jensen remains Neutral on Applied Optoelectronics (AAOI), Acacia Communications (ACIA), Infinera (INFN), NeoPhotonics (NPTN) and Oclaro (OCLR).
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.
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.
07/09/18
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.
VIAV Viavi
$10.39

-0.09 (-0.86%)

06/08/18
DBAB
06/08/18
INITIATION
Target $10.5
DBAB
Hold
Viavi initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath last night initiated Viavi Solutions with a Hold rating and $10.50 price target. The analyst has a constructive view of the company post fiscal 2019.
06/07/18
DBAB
06/07/18
INITIATION
Target $10.5
DBAB
Hold
Viavi initiated with a Hold at Deutsche Bank
Deutsche Bank initiated Viavi with a Hold and $10.50 price target.
06/26/18
NEED
06/26/18
NO CHANGE
NEED
Hold
Viavi starting to benefit from positive developments, says Needham
Needham analyst Alex Henderson keeps his Hold rating on Viavi, saying the company is "starting to benefit from a number of factors", even though it is still too soon to expect the ramp in the positive developments. Henderson points to the expected strength in the company's 3D Sensing in the second half of this year after a moderate retreat in the first half. The analyst also notes that the acquisition of Cobham will "contribute solidly" in the second half of FY19 and in FY20, even though it will likely be a "wash" in the current quarter. Henderson adds that despite the neutral stance, his bias on the stock is starting to shift to the upside.
AAPL Apple
$190.43

-1.12 (-0.58%)

07/18/18
BARD
07/18/18
NO CHANGE
Target $1300
BARD
Outperform
EC ruling against Google is 'pro-Amazon,' says Baird
Baird analyst Colin Sebastian believes the European Commission's ruling against Google (GOOGL) is "a bit misguided," but he also thinks it should have a limited direct impact on Google since it ostensibly does not force a change to its search algorithm and seems "relatively straight-forward" to comply with. The "pro-Amazon ruling" has obvious benefits to Amazon (AMZN) and potentially Apple (AAPL), argues Sebastian, as he notes that the EC will require Android users to take another step before they can access an alternative product search engine and forcing Google to support forked-versions of Android could directly benefit Amazon's Fire devices. Despite the direct and/or indirect benefits of this ruling for Apple and Amazon, Sebastian maintains his positive view on Alphabet and keeps an Outperform rating and $1,300 price target on the shares.
07/18/18
07/18/18
DOWNGRADE

Neutral
Macquarie sees mixed results for U.S. internet large-caps, downgrades Twitter
As previously reported, Macquarie analyst Benjamin Schachter downgraded Twitter (TWTR) to Neutral from Outperform, citing concerns about MAU trends, what he views as a limited set of near-term catalysts and a valuation he believes will likely limit upside from current levels. In his note previewing the upcoming earnings season for U.S. large-cap internet names, Schachter said he expects "somewhat mixed results," identifying Amazon (AMZN), Facebook (FB) and Apple (AAPL) as the stocks on which he is most bullish. He added that he is "increasingly frustrated" with the lack of visibility into the core revenue drivers for Alphabet (GOOGL) and he does not "expect much" from eBay (EBAY) this quarter.
07/12/18
MSCO
07/12/18
NO CHANGE
Target $214
MSCO
Overweight
Third-party data points to sustained App Store growth in Q3, says Morgan Stanley
Morgan Stanley analyst Katy Huberty noted that data from third-party provider Sensor Tower indicates that Apple's App Store generated over $8B in payments to developers in the company's fiscal third quarter, which she said implies App Store net revenue of $3.4B, or year-over-year growth of 27%. The Street consensus models total Apple Services revenue growth decelerating to 26% in the June quarter from up 31% year-over-year in Q2, but she sees this as too conservative given the stable growth pointed to by Sensor Tower's data. Huberty keeps an Overweight rating and $214 price target on Apple shares.
07/10/18
CHLM
07/10/18
NO CHANGE
Target $30
CHLM
Buy
Possible eSim win with Apple coming for STMicroelectronics, says Craig-Hallum
Craig-Hallum analyst Anthony Stoss believes STMicroelectronics (STM) may have won a slot for its new eSIM combo chip in the upcoming new Apple (AAPL) iPhones to be launched this fall. Based on his checks, the analyst thinks it is likely that Apple will move to eSIM technology, though Apple could change that decision and keep carrier specific SIM cards. STMicroelectronics would be potentially knocking out NXP Semiconductors (NXPI) as the NFC supplier to Apple. Moreover, Stoss thinks STMicroelectronics continues to win new business at a "phenomenal pace," with several new high-volume wins still underappreciated by the Street. He reiterates a Buy rating and $30 price target on STMicroelectronics shares.

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NASDAQ Market Internals

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NYSE Market Internals

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CTSH

Cognizant

$61.83

0.75 (1.23%)

13:12
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Cognizant CEO buys 19K shares of company stock »

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NFLX

Netflix

$355.84

3.61 (1.02%)

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Alphabet

$1,144.00

3.45 (0.30%)

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Netflix to release 'Little Black Mirror' episodes on YouTube starting May 26 »

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Netflix

$355.84

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Alphabet

$1,144.00

3.45 (0.30%)

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Alphabet Class A

$1,148.10

3.22 (0.28%)

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Baker-Hughes Rig Count N. Amer. data reported »

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UAL

United Continental

$81.10

0.19 (0.23%)

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Boeing

$356.58

6.01 (1.71%)

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UAL

United Continental

$81.10

0.19 (0.23%)

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Boeing

$356.58

6.01 (1.71%)

AAL

American Airlines

$29.41

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LUV

Southwest

$51.33

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BBY

Best Buy

$64.89

-0.9 (-1.37%)

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Samsung

$0.00

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13:04
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Periodicals
Best Buy cancels preorders for Samsung's foldable phone, CNN reports »

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Best Buy

$64.89

-0.9 (-1.37%)

SSNLF

Samsung

$0.00

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BHGE

Baker Hughes

$22.28

-0.78 (-3.38%)

13:03
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05/24
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13:03
Hot Stocks
Baker Hughes reports U.S. rig count down 4 to 983 rigs »

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V

Visa

$162.59

1.07 (0.66%)

13:02
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Hot Stocks
Visa CFO Vasant Prabhu appointed company vice chairman »

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EHC

Encompass Health

$59.22

-0.315 (-0.53%)

13:01
05/24/19
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13:01
Hot Stocks
Encompass Health names Kim Sullivan chief human resources officer »

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IONS

Ionis Pharmaceuticals

$67.35

0.215 (0.32%)

, BIIB

Biogen

$229.80

0.75 (0.33%)

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13:01
Hot Stocks
Ionis, Biogen slip after FDA approves Novartis' Zolgensma for SMA treatment »

Shares of Ionis…

IONS

Ionis Pharmaceuticals

$67.35

0.215 (0.32%)

BIIB

Biogen

$229.80

0.75 (0.33%)

NVS

Novartis

$87.21

2.75 (3.26%)

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XRT

S&P Retail Index SPDR

$41.58

-0.09 (-0.22%)

13:00
05/24/19
05/24
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13:00
Options
Size four-way put spread in SPDR Retail Trust as shares extend losses »

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RGNX

Regenxbio

$43.60

1.11 (2.61%)

, NVS

Novartis

$87.13

2.67 (3.16%)

12:53
05/24/19
05/24
12:53
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12:53
Hot Stocks
Regenxbio up 6% after Novartis receives FDA approval for Zolgensma »

Regenxbio (RGNX) will…

RGNX

Regenxbio

$43.60

1.11 (2.61%)

NVS

Novartis

$87.13

2.67 (3.16%)

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NVS

Novartis

$87.04

2.58 (3.05%)

12:47
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Novartis says wholesale acquisition cost of Zolgensma $2.125M »

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TIVO

TiVo

$6.87

0.04 (0.59%)

12:45
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Options
TiVo call volume above normal and directionally bullish »

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General news
Breaking General news story  »

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VWAGY

Volkswagen

$0.00

(0.00%)

12:42
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Appeals court rules in favor of Volkswagen diesel car owners, Reuters reports »

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CNC

Centene

$56.30

0.85 (1.53%)

, WCG

WellCare

$267.57

-6.89 (-2.51%)

12:42
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Periodicals
Third Point confirms Centene stake to CNBC, says WellCare deal in best interest »

CNBC tweeted: "Third…

CNC

Centene

$56.30

0.85 (1.53%)

WCG

WellCare

$267.57

-6.89 (-2.51%)

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SPY

SPDR S&P 500 ETF Trust

$282.86

0.67 (0.24%)

, IVV

iShares Core S&P 500

$284.83

0.69 (0.24%)

12:40
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On The Fly: ETF fund flow highlights »

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SPY

SPDR S&P 500 ETF Trust

$282.86

0.67 (0.24%)

IVV

iShares Core S&P 500

$284.83

0.69 (0.24%)

XLK

Technology Select Sector SPDR

$73.62

0.33 (0.45%)

SMH

Market Vectors Semiconductor

$100.37

0.23 (0.23%)

SOXX

iShares PHLX Semiconductor ETF

$180.13

0.06 (0.03%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$119.60

0.14 (0.12%)

EEM

iShares MSCI Emerging Markets ETF

$40.00

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XLU

Utilities SPDR

$59.99

0.07 (0.12%)

XLV

Health Care Select Sector SPDR

$89.56

0.17 (0.19%)

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MSFT

Microsoft

$126.65

0.46 (0.36%)

, CCOEY

Capcom

$0.00

(0.00%)

12:37
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Microsoft says Project xCloud can stream more than 3,500 games »

Kareem Choudhry,…

MSFT

Microsoft

$126.65

0.46 (0.36%)

CCOEY

Capcom

$0.00

(0.00%)

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NVS

Novartis

$86.93

2.47 (2.92%)

12:33
05/24/19
05/24
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12:33
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Novartis announces FDA approval for Zolgensma »

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CNC

Centene

$55.37

-0.08 (-0.14%)

, WCG

WellCare

$273.18

-1.28 (-0.47%)

12:33
05/24/19
05/24
12:33
05/24/19
12:33
Periodicals
Third Point thinks Centene should consider sale before buying WellCare, WSJ says »

Daniel Loeb's Third…

CNC

Centene

$55.37

-0.08 (-0.14%)

WCG

WellCare

$273.18

-1.28 (-0.47%)

HUM

Humana

$262.97

3.1 (1.19%)

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NVS

Novartis

$86.95

2.49 (2.95%)

12:31
05/24/19
05/24
12:31
05/24/19
12:31
Hot Stocks
Breaking Hot Stocks news story on Novartis »

Novartis announces FDA…

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  • 31

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KNX

Knight-Swift

$29.75

-0.65 (-2.14%)

12:30
05/24/19
05/24
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12:30
Options
Volatility play opened in Knight Transportation »

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WCG

WellCare

$273.55

-0.91 (-0.33%)

, CNC

Centene

$55.41

-0.04 (-0.07%)

12:27
05/24/19
05/24
12:27
05/24/19
12:27
Periodicals
Breaking Periodicals news story on WellCare, Centene »

Activist Third Point has…

WCG

WellCare

$273.55

-0.91 (-0.33%)

CNC

Centene

$55.41

-0.04 (-0.07%)

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