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OCLR

Bought by LITE

$0.00

(0.00%)

, ACIA

Acacia Communications

$54.78

-3.27 (-5.63%)

16:14
03/22/19
03/22
16:14
03/22/19
16:14

EU to ignore calls to ban Huawei but wants 5G risks monitored, Reuters says

The European Commission next week plans to urge EU members to share more data to combat cybersecurity risks related to 5G networks but will ignore U.S. calls to ban China's Huawei, Reuters' Foo Yun Chee and Robin Emmott report, citing four people familiar with the matter. European digital chief Andrus Ansip intends to present the recommendation next Tuesday, the authors report. While the guidance does not have legal force, it will carry political gravity which can eventually result in national legislation in EU countries, Chee and Emmott say. Makers of optical components, including Oclaro (OCLR), Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (FNSR), have previously reacted negatively to headlines regarding U.S. enforcement actions and allegations against China's Huawei. Reference Link

OCLR

Bought by LITE

$0.00

(0.00%)

ACIA

Acacia Communications

$54.78

-3.27 (-5.63%)

NPTN

NeoPhotonics

$6.24

-0.05 (-0.79%)

LITE

Lumentum

$53.04

0.99 (1.90%)

FNSR

Finisar

$22.88

-0.58 (-2.47%)

  • 20

    May

  • 28

    May

OCLR Bought by LITE
$0.00

(0.00%)

11/12/18
CHLM
11/12/18
DOWNGRADE
Target $24
CHLM
Hold
Finisar downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst Richard Shannon downgraded Finisar (FNSR) to Hold from Buy and raised his price target on the shares to $24 from $23. The analyst believes that II-VI's (IIVI) $26/share cash and stock offer for the company, which was a 38% premium to the close on November 8th, is more than a fair deal, given that Lumentum's (LITE) offer premium for Oclaro (OCLR) earlier this year was 27%. Shannon has some doubts about whether this deal will close given the Lumentum/Oclaro deal has not yet closed and the intensifying political standoff between the US and China, but also admits II-VI and Finisar would not have agreed to this deal if there was not a good chance of closing.
11/13/18
PIPR
11/13/18
NO CHANGE
Target $72
PIPR
Overweight
Piper remains buyer of Lumentum following yesterday's 33% decline
Piper Jaffray analyst Troy Jensen remains a buyer of Lumentum (LITE) shares following yesterday's 33% decline. The reduced forecast at Apple (AAPL) has nothing to do with lost share for Lumentum, rather it is more indicative of lower sales forecasts at this key account, Jensen tells investors in a research note. The analyst continues to believe the 3D sensing market "will grow handsomely" with Apple and he notes that Android phones are just beginning their adoption. He also sees a pending opportunity for world facing 3D sensing applications. Further, the core telco optics market is in the early innings of an upgrade cycle, which should provide a "nice tailwind" for Lumentum, says Jensen. He also thinks the pending acquisition of Oclaro (OCLR) could also be a catalyst for the shares given the earnings accretion once the merger gets approval. The analyst lowered his price target for Lumentum to $72 from $85 and reiterates an Overweight rating on the name.
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".
12/17/18
NEED
12/17/18
NO CHANGE
Target $75
NEED
Strong Buy
Lumentum can continue posting 'beat and raise' quarters, says Needham
Needham analyst Alex Henderson left recent meetings with management with a "strong conviction" that Lumentum can continue to post "beat and raise" quarters. With the Oclaro deal closed, the analyst increased his estimates for Lumentum to reflect the combined company numbers. He believes the company looks well positioned and keeps a Strong Buy rating on the shares with a $75 price target.
ACIA Acacia Communications
$54.78

-3.27 (-5.63%)

02/22/19
RILY
02/22/19
DOWNGRADE
Target $50.5
RILY
Neutral
Acacia Communications downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Dave Kang downgraded Acacia Communications to Neutral while raising his price target for the shares to $50.50 from $45. The analyst raised his estimates to reflect Acacia's "solid" Q4 results but cites valuation for the downgrade to Neutral.
02/25/19
MKMP
02/25/19
NO CHANGE
Target $60
MKMP
Neutral
Acacia Communications price target raised to $60 from $42 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Acaia Communications (ACIA) to $60 after its strong Q4 results and better than expected Q1 guidance. The analyst says the performance was "driven by the completion of ZTE's (ZTCOY) post-ban catch-up spending" and also notes that the "timing risks" in 2019 China demand picture are offset by the "new tenders and projects" in the market. Genovese is keeping his Neutral rating on Acaia Communications however because of its "full" valuation and a lofty consensus calling for 30% revenue growth in 2019 following a 12% decline in 2018.
02/25/19
DADA
02/25/19
NO CHANGE
Target $46
DADA
Neutral
Acacia Communications price target raised to $46 from $40 at DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on Acacia Communications to $46 after its Q4 results, saying the company is benefiting from a short-term revenue tailwind as ZTE/China business is "turning back on". The analyst is positive on Acacia Communications' "unique focus on silicon as a substrate material" driving cost and power requirements down and given its "competitive edge in the coherent optical transceiver market", but sees valuation on the shares as "close to fair value", keeping his Neutral rating.
03/04/19
CHLM
03/04/19
INITIATION
Target $68
CHLM
Buy
Acacia Communications initiated with a Buy at Craig-Hallum
Craig-Hallum analyst Richard Shannon started coverage of Acacia Communications with a Buy rating and $68 price target. The analyst notes that the Coherent DSP-driven product cycle is ramping again and it is "stronger" than ever. Further, he sees strong sales and EPS growth as Acacia moves further into the cloud.
NPTN NeoPhotonics
$6.24

-0.05 (-0.79%)

11/05/18
PIPR
11/05/18
NO CHANGE
Target $8
PIPR
Neutral
NeoPhotonics price target raised to $8 from $7 at Piper Jaffray
Piper Jaffray analyst Troy Jensen reiterated a Neutral rating on NeoPhotonics and raised his price target to $8 from $7 following the company's Q3 results. In a research note to investors, Jensen "applauds" the company's product roadmap and believes easy comps, sustained growth in DCI, improving demand from China and the ZTE contribution coming back into the model will drive better profitability, but as the company has struggled in the past with sustained profitability, Jensen sees this capping the multiple for shares. Additionally, the analyst says he has mid- to longer-term concerns regarding Neo's exposure to China and its intentions to in-source more domestic optical components.
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".
12/06/18
RILY
12/06/18
DOWNGRADE
Target $8.25
RILY
Neutral
B. Riley FBR downgrades NeoPhotonics on Huawei uncertainty
B. Riley FBR analyst Dave Kang downgraded NeoPhotonics to Neutral from Buy and lowered his price target for the shares to $8.25 from $11. The analyst cites Huawei uncertainty for the downgrade after the company's CFO was arrested in Canada and faces extradition to the U.S. He points out that Huawei has been investigated by the U.S. on whether it violated the U.S. sanctions on Iran.
12/06/18
RILY
12/06/18
DOWNGRADE
Target $8.25
RILY
Neutral
NeoPhotonics downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Dave Kang downgraded NeoPhotonics to Neutral and lowered his price target for the shares to $8.25 from $11.
LITE Lumentum
$53.04

0.99 (1.90%)

03/22/19
JPMS
03/22/19
UPGRADE
Target $65
JPMS
Overweight
JPMorgan upgrades Lumentum to Overweight on iPhone volume stabilization
JPMorgan analyst Samik Chatterjee upgraded Lumentum Holdings (LITE) to Overweight from Neutral and raised his price target for the shares to $65 from $50. The stock closed yesterday up $2.44, of 5%, to $52.10. The analyst sees a "solid" outlook for the company's telecom business amid "strong" growth led by 5G investments and upside to synergy targets relative to recent acquisition of Oclaro. Further, he sees limited downside risk relative to volume expectations for Apple's (AAPL) iPhone, which he notes has been a "key driver of sentiment on the shares." Stabilization of its iPhone volume outlook should drive focus back to the "strong" fundamentals in Lumentum's primary telecom business, Chatterjee tells investors in a research note.
03/22/19
JPMS
03/22/19
UPGRADE
Target $65
JPMS
Overweight
Lumentum upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Samik Chatterjee upgraded Lumentum Holdings to Overweight from Neutral and raised his price target for the shares to $65 from $50.
02/06/19
MKMP
02/06/19
NO CHANGE
Target $66
MKMP
Buy
Lumentum price target raised to $66 from $60 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Lumentum to $66 and kept his Buy rating after its Q3 results. The analyst says that while earnings missed by a penny, the global ROADM, or reconfigurable optical add-drop multiplexer, demand in U.S. and Europe remains strong, with added momentum coming from the build-out of the Metro networks in China. Genovese contends that Lumentum has "at least a couple more quarters of growth" with no meaningful inventory build happening in ROADMs.
03/22/19
03/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Pearson (PSO) upgraded to Overweight from Neutral at JPMorgan with analyst Daniel Kerven saying the company's business model is improving as its moves from print to digital. 2. Lumentum (LITE) upgraded to Overweight from Neutral at JPMorgan with analyst Samik Chatterjee seeing a "solid" outlook for the company's telecom business amid "strong" growth led by 5G investments and upside to synergy targets relative to recent acquisition of Oclaro. 3. Best Buy (BBY) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Nagel stating the company has undergone a significant transformation under the direction of new senior leadership to one of retail's preeminent omnichannel operators. 4. Varian Medical (VAR) upgraded to Outperform from Neutral at Baird with analyst Jason Bednar saying that with near-term trends sounding healthy, multiple paths are emerging for Varian to sustain upper-single digit plus oncology order growth, and low- to mid-teens EPS growth. 5. Chipotle (CMG) upgraded to Neutral from Underperform at Wedbush with analyst Nick Setyan noting he no longer sees risk to near- and medium-term same-store sales growth and unit-level margin expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FNSR Finisar
$22.88

-0.58 (-2.47%)

03/01/19
PIPR
03/01/19
NO CHANGE
Target $24.5
PIPR
Overweight
Finisar revenue growth remains 'elusive,' says Piper Jaffray
Finisar last night reported December quarter results similar to last quarter with earnings upside but revenues below consensus, Piper Jaffray analyst Troy Jensen tells investors in a research note. The company made improvements in gross margins, but given greater than 70% of its sales are datacom related and the segment continues to see weakness, Jensen adds. As such, "solid revenue growth remains elusive," he says. The analyst maintains a Buy rating on Finisar shares with a $24.50 price target.
12/18/18
PIPR
12/18/18
NO CHANGE
PIPR
Cisco's Luxtera deal negative for Finisar and Applied Opto, says Piper Jaffray
Piper Jaffray analyst James Fish notes that the $660M acquisition of Luxterra announced by Cisco (CSCO) yesterday will have "mostly negative" impact on datacom focused optical transceiver suppliers Finisar (FNSR) and Applied Optoelectronics (AAOI). For the former, the analyst notes that Finisar generates about 75% of revenues from datacom transceivers and has frequently experienced Cisco as a 10% plus customer, adding that the vertical integration of the deal will diminishing Cisco's need for merchant transceivers. For the latter, the analyst notes that while Applied Optoelectronics does not "directly sell these components", the Luxterra deal shrinks its market and may lead to more aggressive price moves by the competitors. Fish also sees Fabrinet (FN) as a direct beneficiary of the Luxterra deal given its position as its contract manufacturer that stands to benefit "as Cisco ramps production of SiP transceivers."
12/18/18
RILY
12/18/18
NO CHANGE
RILY
Luxtera buyout negative for Finisar, Applied Optoelectronics, says B. Riley FBR
B. Riley FBR analyst Dave Kang views Cisco Systems' (CSCO) acquisition of Luxtera as a negative for Finisar (FNSR) and Applied Optoelectronics (AAOI). The analyst has Neutral ratings on both stocks.
12/31/18
12/31/18
UPGRADE
Target $40

Outperform
II-VI upgraded to Outperform on valuation at Northland
As previously reported, Northland upgraded II-VI (IIVI) to Outperform from Market Perform and increased its price target to $40 from $39. Analyst Tim Savageaux said the pullback in shares following the Finisar (FNSR) discounts an overly negative view given both pro forma earnings power and deal synergies of nearly $4/share.

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