NeoPhotonics: Heightened Fear Is An Opportunity
Darspal S Mann
Darspal S Mann
Fri, Nov. 4, 3:00 PM
Fri, Nov. 4, 12:58 PM
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Thu, Nov. 3, 4:25 PM
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Mon, Oct. 31, 10:34 AM
- Alex Henderson recommends Oclaro (OCLR +1.5%), NeoPhotonics (NPTN +1.9%), Lumentum Holdings (LITE -2.5%), Fabrinet (FN +0.9%), Finisar (FNSR +0.3%), Inphi (IPHI -0.1%), II-VI (IIVI +1.8%), GigPeak (GIG) and M/A-COM Technology Solutions Holdings (MTSI +0.5%) despite recent pullback in the sector.
- On Acacia Communications (ACIA +0.2%), considers "overcorrected" and sees a reversal in movement on projected strong Q4 guidance and 2017 upside. Acacia Communications was further initiated with an Outperform rating at William Blair earlier this morning.
Thu, Oct. 27, 12:24 PM
- Infinera (NASDAQ:INFN), reporting Q3 results yesterday and kicking off an upcoming wave of earnings for the segment, realized an expected 20% revenue fall-off, continuing to note a challenging environment and weak demand. Its shares are lower today by 8%.
- Others in the space – Acacia Communications (ACIA -11.8%), Oclaro (OCLR -9%), NeoPhotonics (NPTN -7.2%), Fabrinet (FN -5.3%), Ciena (CIEN -3%), Finisar (FNSR -5%) (strong Q3 reported in September), Lumentum Holdings (LITE -2.7%), Applied Optoelectronics (AAOI -4.6%)
Tue, Sep. 20, 3:00 PM
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Thu, Jul. 28, 10:05 AM
- Infinera (INFN -33.1%) beat expectations yesterday, but its demand and near-term revenue outlooks are bleak.
- The company projects Q3 revenue of $185M, +/- $5M. The midpoint of this guidance would denote a 20% Y/Y revenue decrease.
- Infinera has so far been downgraded at J.P. Morgan, Nomura, B. Riley & Co. and Raymond James.
- Management cites weakening demand in North America and Europe, long-haul win challenges and subsea business win rates lower-than-expected that the company expects to hurt revenue for a period of time going forward.
- This news comes only days after a strong cycle in the optical technologies sector was forecast.
- Other optical makers falling today include Lumentum Holdings (LITE -3.7%) NeoPhotonics Corporation (NPTN -4%), Fabrinet (FN -7.1%), Oclaro (OCLR -0.9%) and Ciena Corporation (CIEN -7.8%).
- Infinera earnings call transcript
Mon, Jul. 25, 3:00 PM
Mon, Jul. 25, 12:49 PM
Mon, Jul. 25, 12:44 PM
- Strong upward movement in Lumentum (LITE +8.3%), NeoPhotonics (NPTN +16.4%), Fabrinet (FN +8.1%), Oclaro (OCLR +5.4%) and Infinera (INFN +1.2%) on a Needham & Company report by analysts Alex Henderson, Quinn Bolton and James Ricchiuti.
- Upgraded each to a rating of Strong Buy from Buy.
- Lumentum price target of $40 up from $35 (current price $29.80), Fabrinet target of $48 up from $45 (current price $41.05), NeoPhotonics target of $18 up from $17 (current price $12.95), Oclaro target of $7.50 up from $7 (current price $5.50) and Infinera target of $20 (current price $12.24).
- From the report: "The bulk of the optical components industry is sold out, driven by strong demand out of China. The Metro Core market is just starting to ramp a multi-year build-out. Starting in CY3Q, the massive upgrade in Data Comm from 10G/40G to 25G/100G should kick in and ramp sharply into CY17 and CY18. Over the last 25 years, there has never been a cycle with three major drivers simultaneously."
- New China orders, sold-out conditions, metro network upgrades and server speed increases attributed to the bullish projections.