|Bid||48.00 x 100|
|Ask||52.50 x 200|
|Day's Range||49.85 - 52.80|
|52 Week Range||34.15 - 68.63|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 7, 2017 - Aug 11, 2017|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||72.21|
Finisar says Apple has not invested in the company and that a $390 million infusion represents projected revenue.
Yesterday’s deal announced by fiber-optic component maker Finisar (FNSR) and Apple (AAPL) to boost manufacturing of “VCSEL” lasers for “3-D sensing” is being slightly mis-understood by investors, writes Alex Henderson, who follows the shares of Finisar and other component vendors of Needham & Co. today. Henderson, who has a Buy rating on Finisar, and a $25 price target, thinks actually the deal is better than people may realize. The mistake is that most characterized the arrangement as Apple “funding” Finisar’s spinning up manufacturing in a faculty in Sherman, Texas.
Apple is investing $390 million in Finisar, the second such investment from Apple's $1 billion manufacturing fund.
Apple’s (AAPL) announcement this morning it will give $390 million to fiber-optic component supplier Finisar (FNSR) to boost manufacturing of “VCSEL” lasers is a big vote of confidence in “3-D sensing,” the technology that allows for various kinds of augmented reality, according to a note from fiber analyst Simon Leopold of Raymond James. The news has super-charged Finisar stock, driving it up $5.80, 30%, at $25.10. Competitor Lumentum Holdings (LITE), which seemed to have gotten most of the business so far from Apple for the iPhone X, is deepening its decline, down $5.08, or 10%, at $46.68.
Shares of fiber-optic component vendor Finisar (FNSR) are up $5.07, or over 26%, at $24.37, in early trading, after Apple (AAPL) this morning announced it is giving the company $390 million in funding to expand production in the U.S. of so-called vertical-cavity surface-emitting lasers, or “VCSELs,” which can be used for augmented reality applications in the iPhone. This appears to be a big win for Finisar relative to competitor Lumentum Holdings (LITE), which most believe has been a large initial supplier of the VCSELs used in the “TrueDepth” camera on the front of the iPhone that performs facial recognition and things such as the “Animoji” animations. In a note to clients this morning, Piper Jaffray’s Troy Jensen reiterated his Overweight rating on Finisar stock, and raises his target to $28 from $22, writing that he thinks the deal "will also lead to significant future share of Apple's VCSEL needs." THe money, which comes out of Apple’s “Advanced Manufacturing Fund,” totaling $1 billion, will be used to re-open facilities in Sherman, Texas, said Apple, that had been “long-shuttered.
Shares of Lumentum Holdings Inc. are down 8.7% in premarket trading Wednesday following news that Apple Inc. was investing $390 million in Finisar Corp. , one of Lumentum's competitors. Both companies ...
Shares of fiber-optic component maker Lumentum Holdings (LITE) are up $2, or 4%, at $51.60, after Northland’s Tim Savageaux this morning raised his rating to Outperform from Market Perform, and raised his price target to $58 from $55, writing that the company is increasing its leadership in so-called 3-D sensing, components for mobile devices for augmented reality, such as “VCSEL” lasers.
Finisar said late Thursday that fiscal second-quarter adjusted earnings were 23 cents a share, down 60% from a year ago
Lumentum Holdings (LITE) is seeing solid earnings estimate revision and has a favorable Zacks rank, making it well positioned for future earnings growth.
Recognizes Strong Collaborative Relationship MILPITAS, Calif. , Nov. 29, 2017 /PRNewswire/ -- Lumentum Holdings Inc. ("Lumentum") announced today that it received the 2017 "Joint Innovation ...
NEW YORK, Nov. 09, 2017-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of iRobot ...
Julie Johnson, Technology and Product Marketing Executive, Joins Board MILPITAS, Calif. , Nov. 8, 2017 /PRNewswire/ -- Lumentum Holdings Inc. ("Lumentum") announced the appointment of Julie Johnson ...
Oclaro plunged on weak guidance, sending shares of others in the fiber-optic and optical space down as well.
Lumentum said adjusted earnings were 43 cents a share, down 12% from a year ago, missing consensus estimates. But its 3D sensing business is gaining momentum.
Stock futures rose strongly early Wednesday. Lumentum and Qorvo are just below buy points with earnings today. Fellow Apple iPhone plays Broadcom, Skyworks and Universal Display have already broken out.