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LITE

Lumentum

$60.29

-0.71 (-1.16%)

16:53
05/07/19
05/07
16:53
05/07/19
16:53

Lumentum price target raised to $75 from $59 at Piper Jaffray

Piper Jaffray analyst Troy Jensen raised his price target on Lumentum to $75 and kept his Overweight rating after its Q3 earnings beat, saying the "solid" quarter was driven by cost synergies with Oclaro acquisition, strong industrial laser demand in telecom, and materializing Android revenues. The analyst adds his price target assumes a forward operating income multiple of 15-times, up from 13-times prior view, based on his " increased conviction regarding growth in 3D sensing."

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LITE Lumentum
$60.29

-0.71 (-1.16%)

04/01/19
RILY
04/01/19
NO CHANGE
Target $65
RILY
Buy
Lumentum removed from Alpha Generator list at B. Riley FBR
B. Riley FBR analyst Dave Kang removed Lumentum from his firm's Alpha Generator list but keeps a Buy rating on the shares with a $65 price target. The analyst continues to have a favorable outlook on Lumentum.
04/11/19
UBSW
04/11/19
NO CHANGE
Target $70
UBSW
Buy
Lumentum price target raised to $70 from $53 at UBS
UBS analyst Tejas Venkatesh raised his price target on Lumentum (LITE) to $70 and kept his Buy rating, saying he remains positive on the stock to produce upside to consensus estimates. The analyst cites the company likely maintaining a dominant market share with Apple (AAPL) as its unit count improves in FY20 on another iPhone cycle, leaving the adverse "inventory situation" behind. Venkatesh also anticipates "strong ROADM growth due to Lumentum's technical superiority" and benefits from China correcting its "historical underinvestments."
04/22/19
JPMS
04/22/19
NO CHANGE
JPMS
JPMorgan a buyer of Ciena and Lumentum into Q1 results, downgrades Sensata
JPMorgan analyst Samik Chatterjee names Ciena (CIEN) and Lumentum (LITE) his top Networking Equipment picks into the Q1 reporting season. The analyst is a buyer of both stocks into the prints. Following the rallies year-to-date, investors might need to be more selective relative to opportunities for further share price upside heading into earnings, Chatterjee tells investors in a pre-earnings research note. He believes the overall capital expenditure environment remains positive and that momentum into 5G investment spend appears to be building, particularly in North America. This is likely provide greater visibility to companies relative to their already stated full-year targets, says Chatterjee. However, with investor optimism around 5G infrastructure investment as well as the positive impact on growth from a potential U.S.-China trade deal, the analyst expects share price performances to be largely muted on the back of Q1 earnings. Nonetheless, he sees upside opportunity in both Ciena and Lumentum. Chatterjee also reinstated coverage of CommScope (COMM) and upgraded the shares to Overweight from Neutral, upgraded Viavi Solutions (VIAV) to Neutral from Underweight, and downgraded Sensata (ST) to Neutral from Overweight. A further multiple re-rating of Sensata shares appears unlikely in an environment of moderating auto production this year, contends the analyst.
05/06/19
NEED
05/06/19
NO CHANGE
Target $70
NEED
Buy
Lumentum, Fabrinet price targets raised at Needham
Needham analyst Alex Henderson raised his price targets on Buy-rated Lumentum (LITE) to $70 from $65 and Fabrinet (FN) to $68 from $62 ahead of their earnings, saying he is "modestly" more positive on the stocks going into the print. For Lumentum, the analyst believes the company can benefit from strong demand and constrained capacity trends for ROADMs along with positive regional deployment activity in China that was also signalled by Inphi (IPHI) and Acacia Communications (ACIA) results. For Fabrinet, Henderson expects a solid guidance for Q2, with strong Telecom business offsetting any potential weakness in Data Comm segment.

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