UPDATE: JPMorgan Assumes Lumentum (LITE) at Neutral

May 14, 2021 3:46 AM EDT
Get Alerts LITE Hot Sheet
Price: $80.72 -0.74%

Rating Summary:
    13 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 13 | New: 29
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(Updated - May 14, 2021 5:06 AM EDT)

JPMorgan analyst Samik Chatterjee assumes coverage on Lumentum (NASDAQ: LITE) with a Neutral rating and a price target of $80.00.

The analyst comments "We are rating LITE shares Neutral with the robust growth outlook in Telecom and 3D Sensing end-markets balanced by customer concentration risks in both high-growth segments. While we do see a bull case valuation higher than $100, the earnings risk stemming from negative revisions to iPhone build estimates, ASP reduction in 3D sensing and slowdown in Datacom revenues will likely limit re-rating opportunities for the shares. LITE shares have traded as low as 10x next twelve-month P/E during late 2018 and early 2019 led by peaking concerns relative to the iPhone volume cycle (same time as Apple issued a profit warning)."

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 $67.43 yesterday.

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