Lumentum (LITE) Seeing Strong Demand In ROADMs, Needham Reiterates Strong Buy

Needham & Company analyst, Alex Henderson, reiterated a Strong Buy rating and $70.00 price target on Lumentum (NASDAQ: LITE) on the belief that demand remains strong in ROADMs and stable to improving in coherent products.

The analyst stated "We think Lithium Niobate modulators will be flat in CY3Q, then decline $7-$8 million in CY4Q and again in CY1Q20 as the product is phased out. The Data Comm chip business is strong, but the exiting of Data Comm transceivers is a $7-$8 million/quarter drag on CY3Q and again in CY4Q Q-Q. LITE noted it expects 3D to seasonally peak in CY3Q and decline in CY4Q".

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 $57.38 yesterday.

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