Lumentum Holdings’ (LITE) Buy Rating Reiterated at Craig Hallum

Craig Hallum restated their buy rating on shares of Lumentum Holdings Inc. (NASDAQ:LITE) in a report released on Wednesday, November 1st. The brokerage currently has a $85.00 price objective on the technology company’s stock, up from their previous price objective of $75.00.

A number of other equities research analysts also recently weighed in on LITE. B. Riley reissued a buy rating and issued a $77.00 price target on shares of Lumentum Holdings in a report on Thursday, August 3rd. Piper Jaffray Companies reissued an overweight rating and issued a $68.00 price target on shares of Lumentum Holdings in a report on Thursday, August 10th. Barclays PLC upped their price target on shares of Lumentum Holdings from $50.00 to $59.00 and gave the company an equal weight rating in a report on Thursday, August 10th. Needham & Company LLC reissued a strong-buy rating and issued a $80.00 price target on shares of Lumentum Holdings in a report on Thursday, August 10th. Finally, Jefferies Group LLC reissued a buy rating and issued a $72.00 price target (up from $63.00) on shares of Lumentum Holdings in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Lumentum Holdings has an average rating of Buy and an average price target of $68.06.

Lumentum Holdings (NASDAQ LITE) traded up $1.70 during mid-day trading on Wednesday, reaching $57.15. 1,363,600 shares of the company traded hands, compared to its average volume of 2,208,529. The firm has a market capitalization of $3,543.30, a P/E ratio of 39.97, a P/E/G ratio of 1.04 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 quick ratio of 4.38, a current ratio of 5.21 and a debt-to-equity ratio of 0.50.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.18. Lumentum Holdings had a negative net margin of 9.32% and a positive return on equity of 15.99%. The business had revenue of $222.70 million during the quarter, compared to the consensus estimate of $229.45 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. sell-side analysts expect 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 4,364 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $54.59, for a total transaction of $238,230.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total value of $69,641.52. Following the sale, the director now directly owns 26,464 shares of the company’s stock, valued at approximately $1,403,650.56. The disclosure for this sale can be found here. Insiders sold 87,269 shares of company stock worth $4,602,526 in the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC boosted its position in Lumentum Holdings by 71.8% during the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after purchasing an additional 862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Lumentum Holdings by 111.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after acquiring an additional 1,406 shares during the period. Creative Planning boosted its position in shares of Lumentum Holdings by 54.2% in the second quarter. Creative Planning now owns 3,039 shares of the technology company’s stock valued at $173,000 after acquiring an additional 1,068 shares during the period. LS Investment Advisors LLC boosted its position in shares of Lumentum Holdings by 2.1% in the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after acquiring an additional 75 shares during the period. Finally, World Asset Management Inc bought a new stake in shares of Lumentum Holdings in the second quarter valued at approximately $211,000. 95.69% of the stock is owned by hedge funds and other institutional investors.

About Lumentum Holdings

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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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