What's the difference between Lumentum stock and coherent stock?
Shares of Lumentum ( NASDAQ:LITE) have plummeted while shares of Coherent ( NASDAQ:COHR) have skyrocketed today after the companies announced that Lumentum would acquire Coherent. Lumentum also announced preliminary results for its fiscal second quarter of 2021. As of 12:30 p.m. EST, Lumentum stock was down 11% while coherent stock was up 32%.
What happened to Lumentum laser technology?
Lumentum has agreed to purchase Lumentum for $100 per share in cash and 1.1851 shares of Lumentum stock in a $5.7 billion transaction. Both companies specialize in laser technology and photonics, and the merger is expected to produce over $150 million in annual run-rate synergies within two years of closing.
What does Lumentum do?
It serves customers in markets and applications, such as sheet metal processing, general manufacturing, biotechnology, graphics and imaging, remote sensing, and precision machining. Lumentum Holdings Inc. was incorporated in 2015 and is headquartered in San Jose, California.
What's happening with QuantumScape stock?
The development triggered panic-selling in QuantumScape stock, as this isn't just any other executive exit. Mikolajczak, after all, was leading the company from the front to help it progress from development to production stages.
Should I buy Lumentum stock?
There are currently 1 hold rating and 12 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Lumentum stock.
Will lite stock go up?
Lumentum Holdings Inc (NASDAQ:LITE) The 12 analysts offering 12-month price forecasts for Lumentum Holdings Inc have a median target of 116.50, with a high estimate of 125.00 and a low estimate of 94.00. The median estimate represents a +38.66% increase from the last price of 84.02.
Is Lumentum overvalued?
At its current price of $94.88 per share and the market cap of $7.2 billion, Lumentum Holdings stock is believed to be significantly overvalued.
Is Lite a good buy?
Out of 12 analysts, 6 (50%) are recommending LITE as a Strong Buy, 4 (33.33%) are recommending LITE as a Buy, 2 (16.67%) are recommending LITE as a Hold, 0 (0%) are recommending LITE as a Sell, and 0 (0%) are recommending LITE as a Strong Sell. What is LITE's earnings growth forecast for 2022-2024?
When did Lumentum go public?
August 1, 2015("Lumentum") today announced that it completed the spinoff from JDSU and initiated operations as an independent, publicly-traded company on August 1, 2015.
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What happened
Lumentum (LITE) delivered earnings and revenue surprises of 0.63% and 0.02%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?
So what
Shares of Lumentum ( LITE 2.51% ) have gotten crushed today, down by 17% as of noon EDT, after the company reported fiscal third-quarter earnings. Lumentum's top-line results and guidance disappointed investors and the company took a hit due to delays in deployments.
Now what
Revenue in the fiscal third quarter was $419.5 million, which missed the consensus estimate of $434 million. That resulted in adjusted earnings per share of $1.40, which was on target with what Wall Street was looking for. Lumentum is a technology company that provides optical and photonic components.
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Guidance for the fiscal fourth quarter calls for revenue in the range of $360 million to $400 million, which is below the consensus estimate of $414.4 million. That should result in adjusted earnings per share of $0.92 to $1.14, also light compared to the $1.26 per share in adjusted profits that analysts are modeling for.
What happened
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So what
Shares of Lumentum ( LITE 2.51% ) have plummeted while shares of Coherent ( COHR 0.71% ) have skyrocketed today after the companies announced that Lumentum would acquire Coherent. Lumentum also announced preliminary results for its fiscal second quarter of 2021. As of 12:30 p.m. EST, Lumentum stock was down 11% while coherent stock was up 32%.
Now what
Lumentum has agreed to purchase Lumentum for $100 per share in cash and 1.1851 shares of Lumentum stock in a $5.7 billion transaction. Both companies specialize in laser technology and photonics, and the merger is expected to produce over $150 million in annual run-rate synergies within two years of closing.
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Investors have a lot to digest here. The preliminary results were mixed compared to analyst expectations, and investors seem skeptical about such a large acquisition. The deal is expected to expand Lumentum's position in the $10 billion market for lasers and photonics beyond communications and 3D sensing applications.
