Press coverage about Lumentum (NASDAQ:LITE) has trended somewhat positive recently, according to Accern Sentiment. The research firm ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Lumentum earned a news sentiment score of 0.09 on Accern’s scale. Accern also assigned news headlines about the technology company an impact score of 45.5829663830365 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:
- Lumentum Holdings (LITE) CEO Alan S. Lowe Sells 11,672 Shares (americanbankingnews.com)
- Traders Observable Tech Stock: Lumentum Holdings Inc. (LITE) (nasdaqfortune.com)
- Global Picosecond Laser Market 2018 – InnoLas, Ekspla, COHERENT, JDSU, LUMENTUM (theexpertconsulting.com)
- Needham & Company Reiterates Strong Buy on Lumentum Holdings (LITE) Following S-4 Filing (streetinsider.com)
- Lumentum Hld (LITE): Following the Numbers (parkcitycaller.com)
Shares of Lumentum opened at $62.50 on Tuesday, Marketbeat.com reports. The company has a current ratio of 5.56, a quick ratio of 4.81 and a debt-to-equity ratio of 0.38. Lumentum has a 52 week low of $41.95 and a 52 week high of $74.40. The stock has a market capitalization of $3.91 billion and a price-to-earnings ratio of 39.31.
Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.71 by $0.07. Lumentum had a net margin of 13.63% and a return on equity of 23.35%. The firm had revenue of $299.00 million for the quarter, compared to analysts’ expectations of $292.30 million. During the same period in the previous year, the business earned $0.49 earnings per share. Lumentum’s revenue for the quarter was up 16.8% compared to the same quarter last year. analysts predict that Lumentum will post 2.89 earnings per share for the current year.
A number of brokerages recently weighed in on LITE. Stifel Nicolaus restated a “buy” rating and set a $79.00 price objective on shares of Lumentum in a research note on Thursday, March 15th. UBS began coverage on shares of Lumentum in a research note on Wednesday, January 31st. They set a “buy” rating and a $57.00 price objective on the stock. Barclays lifted their price objective on shares of Lumentum from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 2nd. DA Davidson lifted their price objective on shares of Lumentum to $101.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research upgraded shares of Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Friday, May 4th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.29.
In related news, CEO Alan S. Lowe sold 6,460 shares of Lumentum stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $58.69, for a total value of $379,137.40. Following the transaction, the chief executive officer now owns 214,543 shares of the company’s stock, valued at approximately $12,591,528.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aaron Tachibana sold 832 shares of Lumentum stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $59.26, for a total value of $49,304.32. Following the completion of the transaction, the chief financial officer now directly owns 72,304 shares in the company, valued at approximately $4,284,735.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,516 shares of company stock worth $3,758,144. 0.76% of the stock is owned by company insiders.
Lumentum Company Profile
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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