Other research analysts have also recently issued reports about the company. Barclays raised Lumentum from an equal weight rating to an overweight rating and raised their target price for the stock from $65.00 to $67.00 in a research report on Wednesday, January 10th. Loop Capital assumed coverage on Lumentum in a research report on Monday, January 29th. They issued a buy rating and a $65.00 target price on the stock. B. Riley reissued a buy rating and issued a $85.00 target price (up from $81.00) on shares of Lumentum in a research report on Wednesday, January 31st. BidaskClub raised Lumentum from a sell rating to a hold rating in a research report on Wednesday, January 31st. Finally, Northland Securities reissued a buy rating and issued a $82.00 target price on shares of Lumentum in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $81.00.
Lumentum stock traded down $0.80 during midday trading on Thursday, reaching $68.25. The company had a trading volume of 605,686 shares, compared to its average volume of 2,364,032. Lumentum has a 52 week low of $40.35 and a 52 week high of $74.40. The company has a market cap of $4,368.56, a P/E ratio of 47.02, a price-to-earnings-growth ratio of 1.33 and a beta of -0.09. 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 data on Tuesday, February 6th. The technology company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.00 by $0.67. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The company had revenue of $404.60 million during the quarter, compared to the consensus estimate of $357.03 million. During the same period last year, the company earned $0.57 EPS. Lumentum’s revenue for the quarter was up 52.7% on a year-over-year basis. equities research analysts anticipate that Lumentum will post 2.82 EPS for the current year.
In other news, General Counsel Judy G. Hamel sold 953 shares of Lumentum stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $58.80, for a total transaction of $56,036.40. Following the transaction, the general counsel now directly owns 28,816 shares of the company’s stock, valued at approximately $1,694,380.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Vincent Retort sold 12,111 shares of Lumentum stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $71.00, for a total value of $859,881.00. Following the transaction, the chief operating officer now directly owns 77,318 shares in the company, valued at $5,489,578. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,150 shares of company stock worth $3,800,816. Insiders own 0.76% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. OppenheimerFunds Inc. lifted its position in shares of Lumentum by 7.7% during the 4th quarter. OppenheimerFunds Inc. now owns 13,675 shares of the technology company’s stock valued at $669,000 after buying an additional 974 shares in the last quarter. Tyers Asset Management LLC lifted its holdings in Lumentum by 26.6% in the 4th quarter. Tyers Asset Management LLC now owns 4,720 shares of the technology company’s stock worth $231,000 after purchasing an additional 992 shares in the last quarter. Virginia Retirement Systems ET AL lifted its holdings in Lumentum by 22.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the technology company’s stock worth $321,000 after purchasing an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Lumentum by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Lumentum by 6.9% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 18,660 shares of the technology company’s stock worth $912,000 after purchasing an additional 1,200 shares in the last quarter.
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Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It 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.
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