Lumentum upgraded as market reaction to Marvell deal appears overdone
FROM THE WIRE · SEEKINGALPHA.COM
[Lumentum Corporate Headquarters in San Jose, California, USA] JHVEPhoto Lumentum (LITE [https://seekingalpha.com/symbol/LITE]) was raised to strong buy from outperform at Raymond James, as the market reaction to its deal with Marvell Technologies (MRVL…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bullishA $115 billion all-stock deal between two tech companies moves the stocks involved.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Raymond James raised Lumentum to strong buy from outperform.
- 02Marvell intends to acquire Lumentum in an all-stock deal with an enterprise value of $115 billion.
- 03The deal offers 4.5 Marvell shares per Lumentum share.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Lumentum Holdings Inc.684.40 USDMarket closedtoday -18.59%Positive Marvell Technology, Inc.171.41 USDMarket closedtoday -12.72%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets