Lumentum Holdings (LITE): Favorite Idea In Optical - Needham
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Needham & Company analyst, Alex Henderson, reiterated his Strong Buy rating on shares of Lumentum (NASDAQ: LITE) and raised the price target to $56 from $50; reiterating the company as his favorite idea.
The analyst thinks ROADMs will be the big story in CY17 as China demand doubles the size of the market and China and Metro Core converge. Lumentum dominates the ROADM market with well over a 50% share in both the WSS card and MCS card markets. ROADM demand also drives pump lasers, AMPs and passives. It drives almost half of LITE's revenues with above-average margins. Further ,we think the 3D sensing opportunity is real and significant.
Shares of Lumentum closed at $37.45 yesterday.
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