Unusual Call Buy in Beat Up Optical Stock
Lumentum (LITE) interesting buyer 500 June $60 calls at $6.80 offer here, beaten up name at its long-term VPOC. LITE with its $3.85B market cap now trading 9.1X Earnings, 2.4X Cash and 12X FCF. LITE has seen lower demand and supply constraints but an improving mix story with more data center and telco customers while its optical industry is seeing consolidation