Lumentum Holdings Inc (NASDAQ:LITE) has been assigned an average recommendation of “Buy” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $82.93.
Several research analysts recently weighed in on LITE shares. Morgan Stanley set a $60.00 target price on shares of Lumentum and gave the company a “hold” rating in a research note on Friday, March 9th. Barclays raised shares of Lumentum from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $67.00 in a research note on Wednesday, January 10th. MKM Partners boosted their target price on shares of Lumentum to $88.00 and gave the company a “buy” rating in a research note on Wednesday, March 14th. BidaskClub downgraded shares of Lumentum from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Northland Securities reissued a “buy” rating and issued a $82.00 target price on shares of Lumentum in a research note on Wednesday, February 7th.
Shares of NASDAQ LITE traded up $3.85 during trading on Thursday, hitting $62.32. 2,474,473 shares of the company were exchanged, compared to its average volume of 2,478,090. The firm has a market capitalization of $3,955.45, a P/E ratio of 39.09, a PEG ratio of 1.22 and a beta of -0.08. Lumentum has a 1 year low of $40.35 and a 1 year high of $74.40. 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 (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 net margin of 8.97% and a return on equity of 24.06%. The business had revenue of $404.60 million for the quarter, compared to analyst estimates of $357.03 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year. sell-side analysts forecast that Lumentum will post 2.82 earnings per share for the current fiscal year.
In other news, General Counsel Judy G. Hamel sold 2,000 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $71.00, for a total transaction of $142,000.00. Following the completion of the sale, the general counsel now owns 26,773 shares in the company, valued at approximately $1,900,883. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Judy G. Hamel sold 953 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $58.80, for a total value of $56,036.40. Following the sale, the general counsel now owns 28,816 shares of the company’s stock, valued at approximately $1,694,380.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,150 shares of company stock valued at $3,800,816. Corporate insiders own 0.76% of the company’s stock.
Several large investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new position in Lumentum in the 4th quarter worth approximately $128,000. Envestnet Asset Management Inc. boosted its stake in shares of Lumentum by 1,164.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,653 shares of the technology company’s stock valued at $178,000 after buying an additional 3,364 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lumentum by 42.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after buying an additional 1,135 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Lumentum by 106.7% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,864 shares of the technology company’s stock valued at $189,000 after buying an additional 1,995 shares during the last quarter. Finally, First Allied Advisory Services Inc. purchased a new position in shares of Lumentum during the 3rd quarter valued at approximately $237,000.
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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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