Lumentum (LITE) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Lumentum (NASDAQ: LITE) recently:

  • 10/19/2018 – Lumentum was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 10/12/2018 – Lumentum was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/11/2018 – Lumentum was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating. They now have a $80.00 price target on the stock.
  • 10/6/2018 – Lumentum was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/1/2018 – Lumentum had its price target raised by analysts at Northland Securities from $86.00 to $90.00. They now have an “outperform” rating on the stock.
  • 9/13/2018 – Lumentum was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 9/5/2018 – Lumentum had its price target raised by analysts at Needham & Company LLC from $80.00 to $90.00. They now have a “strong-buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 9/4/2018 – Lumentum was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 9/4/2018 – Lumentum was given a new $80.00 price target on by analysts at JPMorgan Chase & Co.. They now have a “hold” rating on the stock.
  • 8/28/2018 – Lumentum was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/28/2018 – Lumentum was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 8/22/2018 – Lumentum had its price target lowered by analysts at Raymond James from $99.00 to $85.00. They now have a “strong-buy” rating on the stock.

NASDAQ:LITE opened at $62.22 on Friday. The stock has a market capitalization of $3.95 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 0.95 and a beta of 0.18. The company has a current ratio of 5.27, a quick ratio of 4.55 and a debt-to-equity ratio of 0.36. Lumentum Holdings Inc has a twelve month low of $41.95 and a twelve month high of $74.40.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.30. The business had revenue of $301.10 million for the quarter, compared to analyst estimates of $288.56 million. Lumentum had a return on equity of 25.10% and a net margin of 19.86%. Lumentum’s revenue was up 35.2% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. Equities analysts predict that Lumentum Holdings Inc will post 3.66 EPS for the current fiscal year.

In other news, SVP Judy G. Hamel sold 2,495 shares of Lumentum stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $63.21, for a total transaction of $157,708.95. Following the sale, the senior vice president now directly owns 34,138 shares of the company’s stock, valued at $2,157,862.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher W. Coldren sold 3,416 shares of Lumentum stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $64.36, for a total value of $219,853.76. The disclosure for this sale can be found here. Insiders have sold 9,224 shares of company stock worth $584,653 over the last three months. Insiders own 0.55% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC boosted its stake in shares of Lumentum by 152.9% during the second quarter. MetLife Investment Advisors LLC now owns 68,098 shares of the technology company’s stock valued at $3,943,000 after purchasing an additional 41,174 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Lumentum by 101.5% during the second quarter. First Trust Advisors LP now owns 121,160 shares of the technology company’s stock valued at $7,015,000 after purchasing an additional 61,027 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Lumentum by 7.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 379,953 shares of the technology company’s stock valued at $22,000,000 after purchasing an additional 27,127 shares in the last quarter. Stevens Capital Management LP raised its position in shares of Lumentum by 424.8% during the second quarter. Stevens Capital Management LP now owns 32,592 shares of the technology company’s stock worth $1,887,000 after acquiring an additional 26,382 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Lumentum by 87.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 36,353 shares of the technology company’s stock worth $2,105,000 after acquiring an additional 16,951 shares during the last quarter.

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

Further Reading: Rule of 72

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