MKM Partners Reiterates Buy Rating on Lumentum (LITE)

Lumentum (LITE) PT Raised to $120 at Northland Capital Markets

January 20, 2021 7:39 AM EST

Northland Capital Markets analyst Tim Savageaux raised the price target on Lumentum (NASDAQ: LITE) to $120.00 (from $110.00) while maintaining a Outperform rating.... More

Lumentum (LITE) PT Raised to $108 at Raymond James Following Coherent Deal

January 20, 2021 7:19 AM EST

Raymond James analyst Simon Leopold raised the price target on Lumentum (NASDAQ: LITE) to $108.00 (from $93.00) while maintaining an Outperform rating.

The analyst commented, "We maintain our Outperform rating on Lumentum; it announced its intent to acquire Coherent and pre-announced its... More

UPDATE: Stifel Downgrades Lumentum (LITE) to Hold

January 20, 2021 7:16 AM EST

(Updated - January 20, 2021 8:08 AM EST)

Stifel analyst John Marchetti downgraded Lumentum (NASDAQ: LITE) from Buy to Hold, PT $98.00.

The analyst comments "We are downgrading shares of LITE to Hold from Buy as we believe the proposed acquisition of Coherent (Hold, $197.01)... More

Needham Positive on Lumentum (LITE), Coherent (COHR) Deal, Strategically and Tactically

January 20, 2021 7:07 AM EST

Needham & Company analyst Alex Henderson reiterated a Buy rating and $115.00 price target on Lumentum (NASDAQ: LITE) after the company announced a deal to buy Coherent, Inc. (NASDAQ: COHR) for $100 per share in cash and 1.1851 LITE shares/COHR... More

Lumentum (LITE) PT Raised to $105 at Rosenblatt

January 20, 2021 6:07 AM EST

Rosenblatt analyst Ryan Koontz raised the price target on Lumentum (NASDAQ: LITE) to $105.00 (from $100.00) while maintaining a Buy rating.... More

Lumentum (LITE) PT Raised to $105 at Barclays

January 20, 2021 5:54 AM EST

Barclays analyst Blayne Curtis raised the price target on Lumentum (NASDAQ: LITE) to $105.00 (from $90.00) while maintaining a Overweight rating.... 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

Lumentum (LITE) PT Lowered to $120 at Susquehanna

January 19, 2021 3:53 PM EST

Susquehanna analyst Christopher Rolland lowered the price target on Lumentum (NASDAQ: LITE) to $120.00 (from $125.00) while maintaining a Positive rating.

The analyst commented, "LITE signs agreement to purchase Coherent, Inc. for ~$5.7 billion, a 49% premium to Fridays closing price. The deal offers scale, diversification,... 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

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

January 19, 2021 6:31 AM EST

Lumentum Holdings Inc. (Nasdaq: LITE) and Coherent, Inc. (Nasdaq: COHR) today announced that they have entered into a definitive agreement under which Lumentum will acquire Coherent in a cash and stock transaction valued at $5.7 billion. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Coherent stockholders will receive $100.00 per share in cash and 1.1851 shares of Lumentum common stock for each Coherent share they own. At closing, Coherent stockholders are expected to own approximately 27% percent of the combined company.

... More