Lumentum (LITE) PT Lowered to $55 at Barclays

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Go back to Lumentum (LITE) PT Lowered to $55 at Barclays

Lumentum (LITE) drops 10% as warning prompts several analysts to cut rating

April 6, 2023 7:46 AM EDT

Shares of Lumentum (NASDAQ: LITE) are trading about 10% lower in pre-market Thursday after the provider of optical and photonic products reported preliminary FQ3 results that missed analyst estimates.

The company said it expects to report net revenue of $382 million (up or down $2M), missing the $444.1M consensus.

Late in our fiscal 2023 third quarter, a network equipment manufacturer who represented more than 10% of... More

Lumentum (LITE) PT Lowered to $73 at Raymond James

April 6, 2023 6:12 AM EDT

Raymond James analyst Simon Leopold lowered the price target on Lumentum (NASDAQ: LITE) to $73.00 (from $84.00) while maintaining a Outperform rating.

... More