Lumentum (LITE) 3D Sensing Orders 'Piling Up' - Needham & Company

Needham & Company analyst Alex Henderson made positive comments on Lumentum (NASDAQ: LITE) Tuesday, noting the company is seeing orders for 3D Sensing "piling up". The firm reiterated an Strong Buy rating and price target of $80.

Henderson notes the $200 million in orders noted on their CY2Q call in August continues to build and they think the orders may be approaching $300 million.

"The order growth is implying a significant slosh of demand into CY1H18," Henderson commented. "LITE is well positioned to solidly beat numbers. Lumentum also stated they are benefiting from better than expected yields implying strong margins. Lumentum also noted a rebound in demand for ROADMs in China. All-in-all, the news sounds good."

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 $57.25 yesterday.

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