Lumentum (LITE) will acquire Coherent (COHR) in a cash and stock transaction valued at $5.7 billion

Go back to Lumentum (LITE) will acquire Coherent (COHR) in a cash and stock transaction valued at $5.7 billion

MKM Partners Reiterates Buy Rating on Lumentum (LITE)

January 20, 2021 8:04 AM EST

MKM Partners analyst Michael Genovese reiterated a Buy rating and $138.00 price target on Lumentum (NASDAQ: LITE).

The analyst comments "Take Advantage of the Pullback: We would take advantage of the pullback in LITE's share post its announcement of its intention to acquire COHR (Not Rated), a leading... More

Goldman Sachs Upgrades Lumentum (LITE) to Buy

January 20, 2021 5:44 AM EST

Goldman Sachs analyst Rod Hall upgraded Lumentum (NASDAQ: LITE) from Neutral to Buy with a price target of $117.00.

The analyst comments "Earlier today, Lumentum pre-announced its Dec-QTR results with in-line revenues and better margins, as well as separately
announced an agreement to acquire Coherent for... More

Coherent, Inc. (COHR) Provides Preliminary Q1 Results

January 19, 2021 6:37 AM EST

Coherent, Inc. (NASDAQ, COHR), one of the world's leading providers of lasers, laser-based technologies and laser-based system solutions in a broad range of scientific, commercial and industrial applications, today announced preliminary financial results for its first fiscal quarter ended January 2, 2021.

Preliminary Results for the Fiscal First Quarter 2021

Revenue in the range of $325 - $327 millionGAAP gross profit in the range of $119.0M to $120.5MGAAP operating income in the range of $16.4M to $17.6MNon-GAAP gross profit in the range of $128.1M to $130.0MNon-GAAP operating income in the range of... More

Lumentum Holdings (LITE) Reports Prelim. 2Q EPS Results Above Consensus, Prelim. 2Q Revenues Results Below Consensus

January 19, 2021 6:36 AM EST

Lumentum Holdings Inc. (NYSE: LITE) today reported preliminary results for its fiscal second quarter of 2021 ended December 26, 2020.

Preliminary Results for the Fiscal Second Quarter 2021

Net revenue of approximately $478.8 millionGAAP operating margin in the range of 22.6% to 24.1%GAAP diluted net income per share in the range of $0.98 to $1.06Non-GAAP operating margin in the range of 34.0% to 35.5%Non-GAAP diluted net income per share in the range of $1.91 to... More