Lumentum's share surge fueled by higher iPhone X part sales [Reuters]
Lumentum Holdings Inc. (LITE)
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Source: Reuters
Lumentum's share surge fueled by higher iPhone X part sales | Reuters 3 Min Read Dec 13 (Reuters) - Shares in Lumentum Holdings Inc soared 23 percent on Tuesday after the optical components maker said it shipped more than $200 million worth of 3D sensing lasers to a customer that two analysts identified as Apple Inc . Lumentum has been seen as the primary supplier of vertical-cavity surface-emitting lasers (VCSELs) that power iPhone X’s intriguing Face ID feature and the TrueDepth camera technology. The $240 million in sales between September and December roughly line up with 60 million phones made, according to MKM Partners analyst Michael Genovese. Lumentum reported a 52.7 percent jump in revenue to $404.6 million and a profit of $1.67 per share in the second quarter ended Dec. 30. Analysts on average had expected revenue of $357.8 million and a profit of $1.12 per share, according to Thomson Reuters I/B/E/S. “We attribute the strength to an increased pull of 3D sensing shipments, d
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- 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