Lumentum Stock Upgraded, Analyst Says Worst Over For Apple Worries [Investor's Business Daily]
Lumentum Holdings Inc. (LITE)
Last lumentum holdings inc. earnings: 2/4 07:30 am
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Source: Investors Business Daily
JPMorgan upgraded Lumentum Holdings ( LITE ) Friday on views that Apple ( AAPL )-related worries should ease while demand for optical devices built into telecom networks will pick up. Lumentum stock gained in early trading as the Nasdaq Composite fell. Samik Chatterjee, a JPMorgan analyst, upgraded Lumentum stock to overweight. He raised Lumentum's price target to 65 from 50. One driver of the Lumentum stock upgrade is a "solid outlook for the telecom business on the back of strong growth led by 5G wireless investments," Chatterjee said in a report to clients. The JPMorgan analyst also expects "upside to synergy targets relative to the recent acquisition of Oclaro." Further, he said there's "limited downside risk relative to iPhone volume expectations, which has been a key driver of sentiment on the shares." Lumentum stock gained 1% to 52.66 on the stock market today . Shares in the maker of fiber-optic communications devices have dropped 23% from a high of 69, set on March 9, 2018. L
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- 800G Optical Transceiver Market Size to Grow USD 898.6 Million by 2029 at a CAGR of 14% | Valuates Reports [Yahoo! Finance]Yahoo! Finance
- Ciena slips as Citi starts with Sell rating, AI opportunity seen 'years out' [Seeking Alpha]Seeking Alpha
- Lumentum Holdings Inc. (NASDAQ: LITE) had its price target lowered by analysts at JPMorgan Chase & Co. from $62.00 to $57.00. They now have an "overweight" rating on the stock.MarketBeat
- Advancements in Solid-State LiDAR Technology: A Leap Towards the Future of Mobility and Robotics [Yahoo! Finance]Yahoo! Finance
- Lumentum Holdings Inc. (NASDAQ: LITE) had its price target raised by analysts at Raymond James from $51.50 to $58.00. They now have an "outperform" rating on the stock.MarketBeat
LITE
Earnings
- 2/8/24 - Beat
LITE
Sec Filings
- 2/27/24 - Form 8-K
- 2/20/24 - Form 4
- 2/20/24 - Form 4
- LITE's page on the SEC website