Lumentum Fared Well Despite Soft Demand in China and Got 3D Sensing Orders; Shares Fairly Valued
Lumentum posted decent third-quarter results for fiscal 2017 that are largely in line with our expectations. Total revenue grew 11% year over year on double-digit year-over-year growth in both optical communications (networking devices and components) and laser segments. According to management, demand in China slowed down significantly in late the March quarter and would continue into the June quarter, which is consistent with what we see in earnings results from other optical component makers....Lumentum Holdings is a provider of optical and photonic products addressing a range of end-market applications including Optical Communications (OpComms) and Commercial Lasers (Lasers) for manufacturing, inspection and life-science applications. The company's segments are: OpComms, which include a range of components, modules and subsystems to support customers including carrier networks of access, metro, long-haul and submarine applications; and Lasers, which provides lasers for the industrial and scientific markets used in a range of original equipment manufacturer applications including diode-pumped solid-state, fiber, diode, direct-diode and gas lasers such as argon-ion and helium-neon lasers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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