Shares of Lumentum Holdings Inc (NASDAQ:LITE) have been assigned an average rating of “Buy” from the eighteen research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $78.77.
LITE has been the subject of several research reports. BidaskClub cut Lumentum from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Zacks Investment Research cut Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Northland Securities raised Lumentum from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a report on Monday, December 11th. They noted that the move was a valuation call. B. Riley reissued a “buy” rating and set a $89.00 price target on shares of Lumentum in a report on Wednesday, December 13th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $81.00 price target on shares of Lumentum in a report on Wednesday, January 3rd.
In other Lumentum news, CEO Alan S. Lowe sold 8,272 shares of Lumentum stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.66, for a total value of $485,235.52. Following the completion of the transaction, the chief executive officer now directly owns 238,998 shares of the company’s stock, valued at approximately $14,019,622.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan S. Lowe sold 4,511 shares of Lumentum stock in a transaction on Friday, February 16th. The shares were sold at an average price of $58.52, for a total value of $263,983.72. Following the completion of the transaction, the chief executive officer now directly owns 238,998 shares of the company’s stock, valued at $13,986,162.96. The disclosure for this sale can be found here. Insiders sold a total of 62,150 shares of company stock valued at $3,800,816 over the last ninety days. Insiders own 0.76% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new position in Lumentum in the 3rd quarter valued at $434,000. Schwab Charles Investment Management Inc. raised its holdings in Lumentum by 9.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 320,195 shares of the technology company’s stock valued at $17,403,000 after acquiring an additional 28,695 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Lumentum during the 3rd quarter worth $318,000. Macquarie Group Ltd. raised its holdings in shares of Lumentum by 21.5% during the 3rd quarter. Macquarie Group Ltd. now owns 114,540 shares of the technology company’s stock worth $6,225,000 after buying an additional 20,244 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in shares of Lumentum by 86.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock worth $86,436,000 after buying an additional 735,239 shares in the last quarter.
Lumentum (NASDAQ:LITE) opened at $69.95 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84. Lumentum has a one year low of $40.35 and a one year high of $74.40. The company has a market capitalization of $4,377.96, a P/E ratio of 47.91, a PEG ratio of 1.32 and a beta of -0.09.
Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.67. The business had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $357.03 million. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The firm’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period last year, the firm posted $0.57 EPS. research analysts anticipate that Lumentum will post 2.82 earnings per share for the current fiscal year.
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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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