Lumentum Holdings Inc. (NASDAQ:LITE) received a $75.00 price target from equities research analysts at Rosenblatt Securities in a research report issued on Tuesday, October 24th. The brokerage presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price target indicates a potential upside of 31.23% from the company’s current price.
LITE has been the subject of several other research reports. B. Riley reissued a “buy” rating and issued a $77.00 price target (up previously from $58.00) on shares of Lumentum Holdings in a research report on Tuesday, June 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research report on Thursday, September 14th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price target on shares of Lumentum Holdings in a research note on Saturday, July 22nd. BidaskClub lowered shares of Lumentum Holdings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, UBS AG lifted their price objective on shares of Lumentum Holdings from $66.00 to $70.00 in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $68.06.
Shares of Lumentum Holdings (NASDAQ:LITE) traded up $1.70 during trading on Tuesday, reaching $57.15. 1,363,600 shares of the company were exchanged, compared to its average volume of 1,828,473. The stock has a market cap of $3,437.90, a price-to-earnings ratio of 38.78, a PEG ratio of 1.01 and a beta of 1.03. Lumentum Holdings has a 1 year low of $34.15 and a 1 year high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38.
Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.18. The company had revenue of $222.70 million during the quarter, compared to the consensus estimate of $229.45 million. Lumentum Holdings had a negative net margin of 9.32% and a positive return on equity of 15.99%. Lumentum Holdings’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. equities analysts anticipate that Lumentum Holdings will post 2.79 EPS for the current fiscal year.
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In other Lumentum Holdings news, CEO Alan S. Lowe sold 7,916 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $52.62, for a total transaction of $416,539.92. Following the transaction, the chief executive officer now directly owns 141,162 shares in the company, valued at approximately $7,427,944.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Vincent Retort sold 30,706 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the completion of the transaction, the chief operating officer now owns 110,770 shares in the company, valued at $6,032,534.20. The disclosure for this sale can be found here. Insiders sold 87,269 shares of company stock valued at $4,602,526 in the last three months. Company insiders own 0.76% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. lifted its position in shares of Lumentum Holdings by 0.4% in the 2nd quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock worth $539,000 after buying an additional 37 shares during the last quarter. LS Investment Advisors LLC increased its holdings in shares of Lumentum Holdings by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after acquiring an additional 75 shares during the period. Arizona State Retirement System increased its holdings in shares of Lumentum Holdings by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after acquiring an additional 200 shares during the period. Stifel Financial Corp increased its holdings in shares of Lumentum Holdings by 6.6% in the 2nd quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after acquiring an additional 447 shares during the period. Finally, Texas Permanent School Fund increased its holdings in shares of Lumentum Holdings by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock worth $2,318,000 after acquiring an additional 468 shares during the period. Institutional investors own 95.69% of the company’s stock.
Lumentum Holdings Company Profile
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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