Lumentum (LITE) PT Raised to $75 at Rosenblatt; Sees Apple Order Increase

October 4, 2017 9:09 AM

Rosenblatt analyst Jun Zhang raised his price target on Lumentum (NASDAQ: LITE) to $75.00 (from $70.00) while maintaining a Buy rating on potential order increase from Apple.

"We believe the 3D sensing assembly is still running at a 70% yield rate, which might be difficult to improve in the near term; hence, Apple (NASDAQ: AAPL) could order more VCSEL lasers for the December and March quarters," Zhang said.

They see a potential order increase for Lumentum in the March quarter.

The firm's research suggests Lumentum will maintain its 100% share in dot projectors for the next three quarters, and II-VI (NASDAQ: IIVI)/Finisar (NASDAQ: FNSR) could gain some share in the ToF/flood illuminator model, which has lower requirements and an ASP below $1

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