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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 05:14 EDT
Piper Sandler analyst Troy Jensen raised his price target for Lumentum Holdings to $95 from $72 saying the company reported strong Q2 results, beating expectations across the board thanks to a strengthening telecom transport demand and a stronger than expected 3D sensing segment. With a strong outlook for 3D sensing in 2020, sustained strength in telco and "hopeful" rebound in industrial lasers, the analyst continues to view Lumentum as one of the better positioned optical component suppliers. He reiterates an Overweight rating on the shares.
News For LITE From the Last 2 Days
Jul 6, 2020 | 05:58 EDT
The U.K. will begin phasing out use of Huawei equipment in its 5G network as soon as this year, Bloomberg's Kitty Donaldson and Alex Morales report, citing a person familiar with the matter. According to the person, a report from the National Cybersecurity Centre concluded that new U.S. sanctions mean Huawei will have to use untrusted technology, making security risks impossible to control. Huawei suppliers include Micron Technology (MU) and Western Digital (WDC), while makers of optical components, including Acacia Communications (ACIA), NeoPhotonics (NPTN), Lumentum (LITE), and Finisar (IIVI), have previously reacted negatively to headlines regarding U.S. enforcement actions and allegations against China's Huawei. Reference Link