Lumentum May Be Relatively Unharmed by IPG Issue: Raymond James
2018-10-05 21:38:18.169 GMT
By Jeran Wittenstein
(Bloomberg) -- Lumentum’s laser business is smaller and
more concentrated in selective markets and the company said
previously that its exposure was "outside the weakness" cited by
IPG Photonics in Friday’s disappointing preliminary earnings
report, Raymond James analyst Simon Leopold (strong buy, PT $85)
wrote in a note.
* Lumentum’s laser capacity remains constrained and revenue from
the business is expected to double in the next 2-3 years, said
Leopold
* "We continue to like Lumentum’s diversified portfolio outside
of the laser business," Leopold said
* Lumentum fell 7.5% on Friday, the biggest decline since July;
IPG fell 14%
* NOTE: Earlier, Laser Stocks Are Latest Victim of the U.S.
Trade War With China
To contact the reporter on this story:
Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net
To contact the editors responsible for this story:
Catherine Larkin at clarkin4@bloomberg.net
Scott Schnipper
2018-10-05 21:38:18.169 GMT
By Jeran Wittenstein
(Bloomberg) -- Lumentum’s laser business is smaller and
more concentrated in selective markets and the company said
previously that its exposure was "outside the weakness" cited by
IPG Photonics in Friday’s disappointing preliminary earnings
report, Raymond James analyst Simon Leopold (strong buy, PT $85)
wrote in a note.
* Lumentum’s laser capacity remains constrained and revenue from
the business is expected to double in the next 2-3 years, said
Leopold
* "We continue to like Lumentum’s diversified portfolio outside
of the laser business," Leopold said
* Lumentum fell 7.5% on Friday, the biggest decline since July;
IPG fell 14%
* NOTE: Earlier, Laser Stocks Are Latest Victim of the U.S.
Trade War With China
To contact the reporter on this story:
Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net
To contact the editors responsible for this story:
Catherine Larkin at clarkin4@bloomberg.net
Scott Schnipper