Analysts have been eager to weigh in on the Consumer Goods sector with new ratings on Lumentum Holdings (LITE) and Intevac (IVAC).
Lumentum Holdings (LITE)
B.Riley FBR analyst Dave Kang assigned a Buy rating to Lumentum Holdings yesterday and set a price target of $74. The company’s shares closed yesterday at $44.42.
Kang observed:
“We believe the Entity List placement serves as a bargaining chip in the overarching trade dispute between the US and China and view ZTE’s (763-HKG) two week ban followed by several temporary reprieves and an eventual settlement as a reasonable framework for the current situation at Huawei. We intend to get more detail from management’s presentation at the B. Riley FBR Wednesday (5/22).”
According to TipRanks.com, Kang is a 5-star analyst with an average return of 17.8% and a 61.5% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as DASAN Zhone Solutions Inc, Applied Optoelectronics, and Acacia Communications.
Lumentum Holdings has an analyst consensus of Strong Buy, with a price target consensus of $72.11, which is a 62.3% upside from current levels. In a report issued on May 6, Needham also maintained a Buy rating on the stock with a $70 price target.
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Intevac (IVAC)
In a report released yesterday, Craig Ellis from B.Riley FBR assigned a Hold rating to Intevac, with a price target of $5.50. The company’s shares closed yesterday at $5.50.
Ellis wrote:
“We model Vertex revenues resuming later this year so are not totally surprised with the development, with our sub-segment modeling reflecting two systems in 4Q19 and one per quarter in 2020, for a total of six over five quarters. If our modeling plays out, Vertex revenues would re-emerge after a 10-quarter hiatus. So, leading signs of partial coverage to our modeling have emerged, a plus. As noted, the customer was not disclosed, but our sense is it’s one of the larger cover glass manufacturers, so acceptance begins to remove a hurdle for higher volume smartphone manufacturer uptake. Recall China’s Truly employ VERTEX for scratch resistant capability in devices spanning wearables to smartphones. There are no changes to our estimates, rating, or price target and we look for further IVAC and Vertex Spectra insights at the company’s B. Riley FBR 20 th Annual Conference appearance on 5/22.”
According to TipRanks.com, Ellis is a 5-star analyst with an average return of 11.5% and a 54.4% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Applied Materials Inc, Axcelis Technologies, and Rudolph Technologies.
Currently, the analyst consensus on Intevac is a Moderate Buy with an average price target of $6.05.
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