Lumentum Holdings (LITE): 100G Drives Strong Guidance - Piper Jaffray
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Piper Jaffray analyst, Troy Jensen, reiterated his Overweight rating on shares of Lumentum (NASDAQ: LITE) and increased his price target to $38 from $32. Lumentum reported an impressive June quarter with revenues, margins and EPS all coming in ahead of Street expectations, while also guiding the September quarter above consensus estimates. Strength in the company’s optical business was the primary driver to the upbeat results, and specifically led by robust demand for Lumentum’s portfolio of line-side and client side 100G products, as well as LITE’s next gen True Flex ROADMs.
Looking ahead, the analyst believes Lumentum has solid visibility into the next several quarters with a book-to-bill over 1.0x during the June quarter. He also expects the company to be capacity constrained for the next several quarters.
Shares of Lumentum closed at $32.13 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Troy Jensen
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