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LITE

Lumentum

$46.00

0.83 (1.84%)

05:24
01/24/19
01/24
05:24
01/24/19
05:24

Lumentum price target lowered to $59 from $63 at Piper Jaffray

Piper Jaffray analyst Troy Jensen reduced his 3D sensing and earnings estimates for Lumentum but believes this is already factored into the company's current valuation and should not be a surprise to investors. The analyst continues to view Lumentum as one of the better positioned optical component suppliers and believes its acquisition of Oclaro strengthens the company's position and should lead to industry-leading profitability as cost synergies materialize. As such, despite lowering his price target for the shares to $59 from $63, Jensen reiterates an Overweight rating on Lumentum. The company can grow its 3D sensing segment from "these depressed levels" and show accelerating growth in 2019 and beyond, the analyst tells investors in a research note.

  • 05

    Feb

LITE Lumentum
$46.00

0.83 (1.84%)

01/14/19
MSCO
01/14/19
NO CHANGE
Target $55
MSCO
Equal Weight
Lumentum earnings power from Oclaro deal unappreciated, says Morgan Stanley
Morgan Stanley analyst Meta Marshall believes the market is focusing on the shortfall of 3D sensing expectations at Lumentum (LITE) while missing the $1.00-$1.50 of earnings power to come from its acquisition of Oclaro. There has generally been an assumption built into sell-side expectations that there would be an additional "world-facing" VCSEL-based module on the back of certain Apple (AAPL) iPhones in the fall of 2019 phone, noted Marshall. Given that, she believes that most sell-side estimates would need to come down by 75c-$1.00 if there were no "worldfacing" VCSEL in the iPhone in 2019, unless there was "massive" Android adoption to make up for the difference. The analyst, who prefers to let consensus estimates come down but said she is "more inclined to be positive" in the near-term, keeps an Equal Weight rating and $55 price target on Lumentum shares.
01/03/19
RILY
01/03/19
NO CHANGE
Target $62
RILY
Buy
B. Riley FBR an 'aggressive' buyer of Lumentum on today's selloff
B. Riley FBR analyst Dave Kang says he's an "aggressive" buyer today of Lumentum Holdings (LITE) on the selloff related to Apple's guidance cut last night. Apple weakness believe was already reflected in Lumentum's November preannouncement, Kang tells investors in a research note. He keeps a Buy rating on the shares with a $62 price target. The stock in early trading is down 8%, or $3.36, to $39.23.
01/03/19
NEED
01/03/19
NO CHANGE
Target $65
NEED
Strong Buy
Lumentum price target lowered to $65 from $75 at Needham
Needham analyst N. Quinn Bolton lowered his price target on Lumentum (LITE) to $65 after the negative Q1 revenue pre-announcement from Apple (AAPL). The analyst says the reduction is intended to "de-risk" his forecasts on the company's 3D exposure to Apple, as he also lowers his 2019 3D sales forecast to $405M from $465M. Bolton is keeping his Strong Buy rating on the shares however, stating that excluding 3D, the company's "business looks strong with robust optical demand for ROADMs and Pumps and solid dynamics in Industrial lasers".
12/18/18
NEED
12/18/18
NO CHANGE
Target $62
NEED
Buy
Fabrinet price target raised to $62 from $58 at Needham
Needham analyst Alex Henderson raised his price target on Fabrinet (FN) to $62 and kept his Buy, citing the recent commentary from Ciena (CIEN) regarding "strong optical demand" as well as his site visits to Lumentum (LITE) and NeoPhotonics (NPTN). The analyst believes that Fabrinet is "well positioned" as companies move out of China" and look for production alternatives, while its recent acquisitions in the optical space should "add business to Fabrinet". Henderson further notes that the global demand for optical products is looking "robust".

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