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LITE

Lumentum

$51.68

-1.45 (-2.73%)

, IPHI

Inphi

$52.72

0.98 (1.89%)

07:45
07/09/19
07/09
07:45
07/09/19
07:45

B. Riley FBR says China supply chain internalization issue for optical industry

B. Riley FBR analyst Dave Kang lowered his price target for Lumentum (LITE) to $68 from $74 and for Inphi (IPHI) to $45 from $47. While the ban on Huawei has garnered investor attention recently, the bigger issue for the optical industry could be China's internalization of its supply chain, which has been accelerated due to the recent ban, Kang tells investors in a research note. The analyst believes that even after the partial reprieve on Huawei, the U.S. optical companies may not fully recover to the previous levels with Huawei. Recent channel checks revealed that Huawei has significantly accelerated the internalization process of its supply chain, adds the analyst. As a result, he believes the U.S. optical industry is facing "collateral damage" from the trade war with China. Kang keeps a Buy rating on Lumentum and Neutral rating on Inphi. He favors Huawei's competitors such as Ciena (CIEN) and Dasan Zhone Solutions (DZSI), which he believes could gain market share from international customers diversifying away from Huawei.

LITE

Lumentum

$51.68

-1.45 (-2.73%)

IPHI

Inphi

$52.72

0.98 (1.89%)

CIEN

Ciena

$42.08

-0.9 (-2.09%)

DZSI

Dasan Zhone

$12.63

-0.21 (-1.64%)

  • 09

    Jul

  • 10

    Jul

LITE Lumentum
$51.68

-1.45 (-2.73%)

06/06/19
LEHM
06/06/19
NO CHANGE
Target $50
LEHM
Overweight
Lumentum price target lowered to $50 from $60 at Barclays
Barclays analyst Blayne Curtis lowered his price target for Lumentum to $50 from $60 citing an "increasingly weaker market." The analyst, however, keeps an Overweight rating on the shares.
07/02/19
PIPR
07/02/19
NO CHANGE
PIPR
Piper sees 'interesting opportunities' in Optical Networking space
The trade war concerns have created some "interesting opportunities" within the Optical Networking space as underlying demand trends remain solid, Piper Jaffray analyst Troy Jensen tells investors in a research note. The analyst believes investors should revisit some select names and he highlights Acacia Communications (ACIA), Fabrinet (FN) and Lumentum (LITE). He continues to view Acacia as one of the best optical stocks to own and would be buyers at current levels.
05/30/19
JPMS
05/30/19
NO CHANGE
JPMS
JPMorgan views Cisco, Ciena as 'safe havens' during trade war
The vast majority of the multiple de-rating in the Networking/IT Hardware sector has been driven by investor concerns relative to the recent escalation in the trade stand-off with China, and investors are mindful of stocks with high exposure to China and/or Huawei, JPMorgan analyst Samik Chatterjee tells investors in a research note. The analyst continues to recommend Cisco Systems (CSCO) as his top pick for investors as a "relative safe haven," along with Ciena (CIEN), as he believes the company's upcoming fiscal Q2 results will likely be a catalyst. Beyond these names, Chatterjee sees a favorable set up for Neutral-rated Arista Networks (ANET) and he continues to recommend Overweight-rated Lumentum (LITE), despite its high exposure to both China and Huawei.
05/28/19
NEED
05/28/19
NO CHANGE
Target $62
NEED
Buy
Fabrinet price target lowered to $62 from $70 at Needham
Needham analyst Alex Henderson lowered his price target on Fabrinet (FN) to $62 to reflect the company's loss of sales to Huawei on the expected impact to Lumentum (LITE) - one of Fabrinet's largest customers. The analyst notes that although Huawei is not a direct Fabrinet customer, between Lumentum and NeoPhotonics (NPTN), about 10% of its revenue is tied to Huawei through its customers. Henderson still keeps his Buy rating on the stock with an optimistic view that a trade deal between U.S. and China will be reached "at some point."
IPHI Inphi
$52.72

0.98 (1.89%)

05/16/19
MSCO
05/16/19
NO CHANGE
MSCO
Micron, Skyworks, Qorvo among chipmakers exposed to Huawei, says Morgan Stanley
Following media reports discussing a potential ban of sales from U.S. companies to Huawei, Morgan Stanley analyst Joseph Moore identified semiconductor companies with exposure to the company, including Skyworks (SWKS), Qorvo (QRVO), Broadcom (AVGO), Analog Devices (ADI), ON Semiconductor (ON), Maxim (MXIM), Texas Instruments (TXN), Xilinx (XLNX), Micron (MU) and Inphi (IPHI). In his note, Moore recalled that a similar ban on ZTE (ZTCOY) last year was ultimately removed.
05/23/19
CHLM
05/23/19
NO CHANGE
Target $53
CHLM
Buy
Inphi price target lowered to $53 from $58 at Craig-Hallum
Craig-Hallum analyst Richard Shannon lowered his price target for Inphi to $53 from $58, while reiterating a Buy rating on the shares. The analyst notes that Inphi's lowered guidance is not surprising given the situation with Huawei, and believes is already baked into the stock. Shannon is lowering his estimates assuming Huawei will not be an ongoing customer, but suspects that this lost business will be partially made up.
05/21/19
DADA
05/21/19
NO CHANGE
Target $52
DADA
Buy
Inphi price target lowered to $52 from $56 at DA Davidson
DA Davidson analyst Mark Kelleher lowered his price target on Inphi to $52 to reflect the impact of the U.S. Commerce Department adding Huawei - a 14% contributor to the company's revenue - to its "Entity List". The analyst also lowers his FY19 and FY20 EPS view on Inphi by 32c and 17c to $1.32 and $2.00 respectively, but keeps his Buy rating on the stock given his assumption of the company's 20% sustainable growth rate.
07/08/19
CHLM
07/08/19
NO CHANGE
Target $62
CHLM
Buy
Inphi price target raised to $62 from $53 at Craig-Hallum
Craig-Hallum analyst Richard Shannon raised his price target for Iphi to $62 from $53 as his latest checks indicate the company's PAM4 devices for 100/200/400G are "gaining the lion's share of designs." The analyst believes this success will have most of its impact in 2020 and beyond, with minimal benefit to this year, and notes that his higher 2020 estimates make up for about 2/3 of the lost Huawei sales he removed from estimates in May. Overall, Iphi is one the few stocks that has the potential to grow 20%-plus for 2-3 years with gross margin of about 70%, which will command a premium valuation, he contends. Shannon reiterates a Buy rating on the shares.
CIEN Ciena
$42.08

-0.9 (-2.09%)

06/07/19
MKMP
06/07/19
NO CHANGE
Target $54
MKMP
Buy
Ciena price target raised to $54 from $49 at MKM Partners
MKM Partners analyst Michael Genovese raised his price target on Ciena to $54 and kept his Buy rating after its "strong" Q2 revenues and margins, with sales in both Networking Platforms and Services segments topping his expectations even though Software sales disappointed. The analyst notes that the gross margin upside was driven by strong Optical line card and capacity demand, while the book-to-bill ratio in Q2 was "significantly" above 1.0. Genovese contends that Ciena is outperforming the competition because of the strength of its technology, its bigger scale, and more favorable regulatory changes.
06/07/19
JEFF
06/07/19
NO CHANGE
Target $55
JEFF
Buy
Ciena price target raised to $55 from $50 at Jefferies
Jefferies analyst George Notter raised his price target for Ciena to $55 from $50 saying the company's April quarter results reinforced his view that the company is the long-term share consolidator in the space. He thinks the shares remain "too cheap" as the Street is still underestimating Ciena's ability to grow market share over time. The analyst keeps a Buy rating on the name.
06/07/19
RILY
06/07/19
NO CHANGE
Target $55
RILY
Buy
Ciena price target raised to $55 from $48 at B. Riley FBR
B. Riley FBR analyst Dave Kang raised his price target for Ciena to $55 from $48 saying the company is outpacing the industry with market share gains. He keeps a Buy rating on the shares following Ciena's fiscal Q2 results.
07/01/19
NEED
07/01/19
UPGRADE
Target $59
NEED
Buy
Acacia Communications upgraded to Buy from Hold at Needham
Needham analyst Alex Henderson upgraded Acacia Communications (ACIA) to Buy from Hold with a $59 price target following a round of industry checks and visits. In a research note to investors, Henderson says he believes the landscape is improving for Acacia, as well as for Ciena (CIEN) and Infinera (INFN). By driving more rapid new DSP introductions, the analyst says Acacia has pressured its competitors to keep pace, which he says they are not. He thinks Acacia will gain share, lock in customers, and enhance their advantage on the next chip development cycle.
DZSI Dasan Zhone
$12.63

-0.21 (-1.64%)

05/20/19
RILY
05/20/19
INITIATION
Target $19.5
RILY
Buy
Dasan Zhone initiated with a Buy at B. Riley FBR
B. Riley FBR analyst Dave Kang started Dasan Zhone Solutions with a Buy rating and $19.50 price target. The company is outpacing the broadband industry through share gains, Kang tells investors in a research note.

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CAMP

CalAmp

$10.59

-0.23 (-2.13%)

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ADMP

Adamis Pharmaceuticals

$1.22

-0.03 (-2.41%)

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  • 24

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PPG

PPG

$116.58

-0.025 (-0.02%)

13:54
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  • 18

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PPG

PPG

$116.49

-0.115 (-0.10%)

13:49
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PPG says Q2 EPS impacted by lower global industrial production »

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  • 18

    Jul

  • 05

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ZBRA

Zebra Technologies

$180.92

-16.74 (-8.47%)

13:40
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  • 30

    Jul

TELL

Tellurian

$6.98

0.31 (4.65%)

13:40
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JLL

Jones Lang LaSalle

$140.05

0.585 (0.42%)

13:32
07/18/19
07/18
13:32
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Conference/Events
Jones Lang LaSalle management to meet with Mizuho »

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  • 24

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GOSS

Gossamer Bio

$19.60

-0.48 (-2.39%)

13:30
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Options
Gossamer Bio call volume spikes on November purchase wit shares at 52wk lows »

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13:25
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Conference/Events
Cowen healthcare/biotech analysts to hold an analyst/industry conference call »

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PEP

PepsiCo

$132.17

-0.6 (-0.45%)

13:24
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Breaking Periodicals news story on PepsiCo »

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13:20
07/18/19
07/18
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General news
Treasury's $14 B 10-year TIPS sale was on the soft side »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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NYSE market internals summary »

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UNIT

Uniti Group

$8.55

-0.03 (-0.35%)

13:15
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Options
Uniti Group put volume heavy and directionally bearish »

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  • 08

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General news
10-Yr TIPS Auction Coupon Rate data reported »

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TELL

Tellurian

$6.99

0.32 (4.80%)

13:05
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Options
Tellurian call volume above normal and directionally bullish »

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12:57
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Conference/Events
Stephens architecture analysts to hold analyst/industry conference call nosymbol »

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EMR

Emerson

$64.26

-0.4 (-0.62%)

12:55
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FB

Facebook

$200.15

-1.82 (-0.90%)

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  • 24

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DHR

Danaher

$141.79

2.19 (1.57%)

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  • 18

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AXP

American Express

$128.02

0.975 (0.77%)

, V

Visa

$179.16

(0.00%)

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AXP

American Express

$128.02

0.975 (0.77%)

V

Visa

$179.16

(0.00%)

MA

MasterCard

$275.83

0.49 (0.18%)

UBER

Uber

$43.74

0.12 (0.28%)

LYFT

Lyft

$65.51

0.35 (0.54%)

WU

Western Union

$20.42

0.02 (0.10%)

BBVA

Banco Bilbao

$5.42

-0.055 (-1.01%)

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