Apple (AAPL) Set to Open Lower by 2.4% Following Profit Warning from Lumentum (LITE)
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Lumentum (LITE) PT Lowered to $72 at Piper Jaffray Following Recent Sell-Off
November 13, 2018 9:14 AM ESTPiper Jaffray analyst Troy Jensen lowered the price target on Lumentum (NASDAQ: LITE) to $72.00 (from $85.00) while maintaining a Overweight rating Following the 33% drop in the company's stock price. Jensen believes the reduced forecast at Apple has nothing to due with lost share for... More
Lumentum (LITE) PT Lowered to $60 at MKM Partners Following Guidance Cut
November 13, 2018 8:48 AM ESTMKM Partners analyst Michael Genovese lowered the price target on Lumentum (NASDAQ: LITE) to $60.00 (from $78.00) while maintaining a Buy rating. Yesterday morning Lumentum lowered the 2QFY19 guidance it just provided on November 1. The company reduced the revenue outlook by $72.5mn at the mid-point to... More
Lumentum Holdings (LITE) Cuts Q2 Guidance
November 12, 2018 8:02 AM ESTLumentum Holdings Inc. (Nasdaq: LITE) today announced updated business outlook for its fiscal second quarter 2019 based on a recent customer development.
"We recently received a request from one of our largest Industrial and Consumer customers for laser diodes for 3D sensing to materially reduce shipments to them during our fiscal second quarter for previously placed orders that were originally scheduled for delivery during the quarter," said Alan Lowe, President and CEO. "With our proven ability to deliver high volumes, years of experience, hundreds of millions of devices in the field, and... More
