Lumentum Holdings (LITE): Favorite Idea In Optical - Needham

October 31, 2016 7:54 AM EDT
Get Alerts LITE Hot Sheet
Price: $35.15 +0.14%

Rating Summary:
    10 Buy, 1 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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.

For an analyst ratings summary and ratings history on Lumentum click here. For more ratings news on Lumentum click here.

Shares of Lumentum closed at $37.45 yesterday.

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