Lumentum Holdings Inc (NASDAQ:LITE) has earned a consensus rating of “Buy” from the nineteen analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $72.73.
LITE has been the topic of several research reports. Zacks Investment Research lowered shares of Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Barclays raised their target price on shares of Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. BidaskClub lowered shares of Lumentum from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Craig Hallum restated a “buy” rating and set a $85.00 target price (up previously from $75.00) on shares of Lumentum in a research report on Wednesday, November 1st. Finally, B. Riley restated a “buy” rating and set a $89.00 target price on shares of Lumentum in a research report on Friday, January 5th.
Shares of Lumentum (NASDAQ:LITE) opened at $59.00 on Wednesday. The company has a market cap of $3,684.72, a P/E ratio of 40.41, a PEG ratio of 1.11 and a beta of 0.56. Lumentum has a 1 year low of $40.35 and a 1 year high of $68.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.84 and a quick ratio of 4.16.
Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.00 by $0.67. The business had revenue of $404.60 million for the quarter, compared to analyst estimates of $357.03 million. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The company’s quarterly revenue was up 52.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 earnings per share. sell-side analysts predict that Lumentum will post 2.85 EPS for the current fiscal year.
In other Lumentum news, EVP Jason Reinhardt sold 9,308 shares of Lumentum stock in a transaction on Friday, February 9th. The shares were sold at an average price of $56.82, for a total value of $528,880.56. Following the transaction, the executive vice president now owns 59,635 shares in the company, valued at approximately $3,388,460.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin A. Kaplan sold 3,000 shares of Lumentum stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $55.03, for a total transaction of $165,090.00. Following the completion of the transaction, the director now owns 26,573 shares in the company, valued at approximately $1,462,312.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,694 shares of company stock worth $1,163,543. 0.76% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Lumentum by 3.6% in the 4th quarter. BlackRock Inc. now owns 7,756,216 shares of the technology company’s stock valued at $379,279,000 after purchasing an additional 268,849 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lumentum by 58.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,005,797 shares of the technology company’s stock valued at $195,883,000 after purchasing an additional 1,470,587 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Lumentum by 8.6% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,726,516 shares of the technology company’s stock valued at $84,427,000 after purchasing an additional 136,157 shares during the last quarter. State Street Corp boosted its holdings in shares of Lumentum by 16.3% in the 2nd quarter. State Street Corp now owns 1,491,562 shares of the technology company’s stock valued at $85,095,000 after purchasing an additional 208,872 shares during the last quarter. Finally, AXA boosted its holdings in shares of Lumentum by 48.4% in the 4th quarter. AXA now owns 1,411,087 shares of the technology company’s stock valued at $69,002,000 after purchasing an additional 460,315 shares during the last quarter.
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Lumentum 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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