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IIVI

II-VI

$32.12

-0.93 (-2.81%)

18:38
12/19/18
12/19
18:38
12/19/18
18:38

II-VI expands manufacturing capacity of diamond windows for CO2 lasers

II-VI Incorporated announced that it is expanding its manufacturing capacity of large area diamond windows for TRUMPF's high power carbon dioxide lasers embedded in extreme ultraviolet lithography systems. The demand for diamond windows has accelerated with the increased shipments of EUV lithography systems to advanced microelectronics manufacturers. II-VI will double its manufacturing capacity of large area diamond windows by the end of calendar year 2019, with half of that increase coming online at the end of calendar year 2018.

IIVI II-VI
$32.12

-0.93 (-2.81%)

12/06/18
JEFF
12/06/18
DOWNGRADE
Target $23
JEFF
Hold
Finisar downgraded to Hold from Buy at Jefferies
Jefferies analyst George Notter downgraded Finisar (FNSR) to Hold saying competing takeover bids to II-VI's (IIVI) are unlikely. The analyst views the deal price as "appropriate."
12/06/18
MKMP
12/06/18
DOWNGRADE
MKMP
Neutral
Finisar downgraded to Neutral from Buy at MKM Partners
MKM Partners analyst Michael Genovese downgraded Finisar (FNSR) to Neutral from Buy with a price target of $24 after its merger agreement with II-VI (IIVI) announced last month. The analyst further notes that Q4 is trending well for the optical components group which also includes Lumentum (LITE) and Oclaro (OCLR), but believes that the guidance for March will be "sequentially down due to annual price negotiations and Chinese New Year".
11/13/18
LOOP
11/13/18
NO CHANGE
Target $43
LOOP
Buy
II-VI price target lowered to $43 from $55 at Loop Capital
Loop Capital analyst James Kisner lowered his price target on II-VI (IIVI) to $43, saying it is "prudent" to reduce his estimates for 3D sensing after the negative pre-announcement by Lumentum (LITE). The analyst notes that the company's Laser Solutions business may also slow in FY19, lowering his EPS forecast for next year to $2.29 from $2.53. Separately, Kisner is also positive on II-VI's proposed Finisar (FNSR) merger, stating that even under the conservative projections for the latter, the transaction is "likely very accretive".
11/12/18
LOOP
11/12/18
NO CHANGE
LOOP
Buy
Apple the customer that caused Lumentum preanouncement, says Loop Capital
Lumentum (LITE) negatively preannounced December quarter results this morning, stating it recently received a request from one of its "largest Industrial and Consumer customers for laser diodes for 3D sensing" to "materially reduce shipments to them...for previously placed orders that were originally scheduled for delivery during the quarter," Loop Capital analyst James Kisner tells investors in a research note. The analyst believes the customer is Apple (AAPL) given that it is "clearly the largest customer for 3D sensing in the marketplace right now." Lumentum's news is not entirely surprising given a recent report by Nikkei on November 5 that Apple had recently told its top smartphone manufacturing partners to halt plans for additional production lines for the iPhone XR, Kisner writes in a note partially titled "Rotten Apple." The analyst says it is not hard to imagine Lumentum's earnings power trending towards $4 in earnings per share in calendar 2019 versus the consensus of $5.18. While Lumentum clearly has the most exposure to 3D sensing demand at Apple, Finisar (FNSR) and II-VI (II-VI) both have small exposures to 3D sensing demand at Apple as much smaller alternative suppliers of light sources., says Kisner. Viavi (VIAV) also has a relatively small exposure as a supplier of filters for 3D sensing, he points out. Kisner has a Buy rating on Lumentum, which is down 29% to $39.48 in early trading.

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LSCC

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NFLX

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TSN

Tyson Foods

$82.13

-1.59 (-1.90%)

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NIO

NIO Inc.

$1.48

-0.085 (-5.45%)

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12:50
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NY Fed bought $7.5 B in T-bills in today's purchase »

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JWN

Nordstrom

$34.95

-0.58 (-1.63%)

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FB

Facebook

$189.02

0.21 (0.11%)

, TWTR

Twitter

$39.97

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SNAP

Snap

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IRM

Iron Mountain

$32.64

-0.135 (-0.41%)

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AMZN

Amazon.com

$1,776.00

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NBEV

New Age Beverages

$2.73

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NWL

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GM

General Motors

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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PLAN

Anaplan

$44.40

-3.33 (-6.98%)

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MCK

McKesson

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TEVA

Teva

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BAC

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BX

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Achillion

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ALXN

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WDAY

Workday

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SNBR

Sleep Number

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WB

Weibo

$52.17

2.85 (5.78%)

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