Lumentum Holdings Inc. (LITE) Given Average Recommendation of “Buy” by Analysts

Lumentum Holdings Inc. (NASDAQ:LITE) has received a consensus rating of “Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $67.67.

LITE has been the topic of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price target on shares of Lumentum Holdings in a research report on Thursday, September 7th. BidaskClub upgraded shares of Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. DA Davidson initiated coverage on shares of Lumentum Holdings in a research report on Thursday, June 22nd. They set a “neutral” rating and a $77.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Lumentum Holdings in a research report on Wednesday, October 4th. Finally, Needham & Company LLC reiterated a “strong-buy” rating and set a $80.00 price target on shares of Lumentum Holdings in a research report on Wednesday, September 6th.

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Lumentum Holdings (NASDAQ LITE) traded down 0.97% during midday trading on Thursday, reaching $55.95. 258,013 shares of the company traded hands. Lumentum Holdings has a one year low of $32.90 and a one year high of $68.63. The stock’s 50 day moving average is $56.46 and its 200 day moving average is $56.46. The company’s market capitalization is $3.44 billion.

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 Thomson Reuters’ consensus estimate of $0.21 by $0.18. The company had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. Lumentum Holdings’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities analysts anticipate that Lumentum Holdings will post $3.07 earnings per share for the current year.

In other news, CEO Alan S. Lowe sold 28,095 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $51.20, for a total transaction of $1,438,464.00. Following the completion of the sale, the chief executive officer now owns 249,655 shares of the company’s stock, valued at $12,782,336. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Vincent Retort sold 30,706 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total value of $1,672,248.76. Following the sale, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at approximately $6,032,534.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,269 shares of company stock valued at $4,602,526. Insiders own 0.76% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its stake in shares of Lumentum Holdings by 0.4% during the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after purchasing an additional 37 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Lumentum Holdings by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 12,500 shares of the technology company’s stock valued at $667,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System boosted its stake in shares of Lumentum Holdings by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 200 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Lumentum Holdings by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after purchasing an additional 447 shares during the period. 95.74% of the stock is owned by hedge funds and other inst

LITE has been the topic of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price target on shares of Lumentum Holdings in a research report on Thursday, September 7th. BidaskClub upgraded shares of Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. DA Davidson initiated coverage on shares of Lumentum Holdings in a research report on Thursday, June 22nd. They set a “neutral” rating and a $77.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $75.00 price target (up from $70.00) on shares of Lumentum Holdings in a research report on Wednesday, October 4th. Finally, Needham & Company LLC reiterated a “strong-buy” rating and set a $80.00 price target on shares of Lumentum Holdings in a research report on Wednesday, September 6th.

WARNING: This piece of content was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/19/lumentum-holdings-inc-lite-given-average-recommendation-of-buy-by-analysts.html.

Lumentum Holdings (NASDAQ LITE) traded down 0.97% during midday trading on Thursday, reaching $55.95. 258,013 shares of the company traded hands. Lumentum Holdings has a one year low of $32.90 and a one year high of $68.63. The stock’s 50 day moving average is $56.46 and its 200 day moving average is $56.46. The company’s market capitalization is $3.44 billion.

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 Thomson Reuters’ consensus estimate of $0.21 by $0.18. The company had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. Lumentum Holdings’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities analysts anticipate that Lumentum Holdings will post $3.07 earnings per share for the current year.

In other news, CEO Alan S. Lowe sold 28,095 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $51.20, for a total transaction of $1,438,464.00. Following the completion of the sale, the chief executive officer now owns 249,655 shares of the company’s stock, valued at $12,782,336. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Vincent Retort sold 30,706 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total value of $1,672,248.76. Following the sale, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at approximately $6,032,534.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,269 shares of company stock valued at $4,602,526. Insiders own 0.76% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Suntrust Banks Inc. boosted its stake in shares of Lumentum Holdings by 0.4% during the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after purchasing an additional 37 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Lumentum Holdings by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 12,500 shares of the technology company’s stock valued at $667,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System boosted its stake in shares of Lumentum Holdings by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 200 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Lumentum Holdings by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after purchasing an additional 447 shares during the period. 95.74% of the stock is owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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