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LITE

Lumentum

$56.10

1.2 (2.19%)

06:10
08/07/18
08/07
06:10
08/07/18
06:10

Lumentum price target lowered to $73 from $78 at Loop Capital

Loop Capital analyst James Kisner lowered his price target on Lumentum to $73 ahead of its Q3 results on August 8th, citing "minor adjustments" to forward expectations around optical component revenue contribution. The analyst keeps his Buy rating, adding that 3D sensing revenue expectations are "achievable", with the company likely to post an in-line Q3 result along with "slightly-better-than-consensus guidance", leading to upside in the stock price. Kisner further notes that he expects "an increasing number of smartphones to utilize the 3D sensing technology" and remains "very bullish" on that segment.

  • 08

    Aug

LITE Lumentum
$56.10

1.2 (2.19%)

07/20/18
MKMP
07/20/18
NO CHANGE
MKMP
Lumentum pullback on WIN worries a buying opportunity, says MKM Partners
MKM Partners analyst Michael Genovese said the guidance from WIN Semiconductor of Taiwan will likely make investors worry about an inventory build up in the 3D VCSEL supply chain, but he sees what is going on as positive inventory buffering, not a problematic build. With three new phones and an iPad with 3D being launched in the second half, Apple (AAPL) does not want to have bottlenecks late this year, contends Genovese, who recommends buying shares of Lumentum (LITE) on today's weakness. Other Optical names that have been weak following the guidance from WIN include Oclaro (OCLR) and Finisar (FNSR), The Fly notes.
07/20/18
NEED
07/20/18
NO CHANGE
NEED
Lumentum selloff today a buying opportunity, says Needham
07/20/18
NEED
07/20/18
NO CHANGE
NEED
Lumentum should be bought on today's weakness, says Needham
Needham analyst Alex Henderson attributes the selloff today in shares of Lumentum to comments from Win Semiconductors, the supplier of VCSEL wafers to Lumentum. It has been reported that Win expects VCSEL sales in the second half of 2018 to be less than previously expected and up less than 100% year-over-year, which is being seen as a negative for Lumentum, Henderson tells investors in a research note. The analyst disagrees. He says shipments in Q2 were well above industry demand as the iPhone X demand fell off and Win couldn't slow production to match the market swing. Henderson believes Win's comments reflect its long lead times. He recommends using the selloff today in shares of Lumentum as a buying opportunity. The analyst keeps a Strong Buy rating on the name with an $80 price target.
07/23/18
DADA
07/23/18
NO CHANGE
Target $92
DADA
Buy
Lumentum price target lowered to $92 from $104 at DA Davidson
DA Davidson analyst Mark Kelleher lowered his price target on Lumentum to $92 following revenue guidance of a 10% sequential decline from Win Semi on Friday. The analyst notes that Win Semi is predictive for Lumentum as its "contract manufacturer of 3D sensing components", suggesting that "certain 3D laser smartphone customers are experiencing an inventory correction". Kelleher further notes that the inventory overhang is likely due to "Apple (AAPL) building up inventory ahead of the next iPhone cycle", though he does not expect the development to be "indicative of a change in the competitive landscape, or a change in Apple's plans to incorporate 3D sensing into its products". The analyst also keeps his Buy rating on Lumentum.

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