Weekly Investment Analysts’ Ratings Updates for Lumentum (LITE)

A number of firms have modified their ratings and price targets on shares of Lumentum (NASDAQ: LITE) recently:

• 11/13/2023 – Lumentum had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $50.00 price target on the stock.
• 11/9/2023 – Lumentum had its price target raised by analysts at Susquehanna from $45.00 to $55.00. They now have a “positive” rating on the stock.
• 11/9/2023 – Lumentum had its price target raised by analysts at Raymond James from $49.50 to $54.00. They now have an “outperform” rating on the stock.
• 11/8/2023 – Lumentum was downgraded by analysts at TheStreet from a “c-” rating to a “d” rating.
• 10/31/2023 – Lumentum had its price target lowered by analysts at Raymond James from $51.50 to $49.50. They now have an “outperform” rating on the stock.
• 10/31/2023 – Lumentum had its price target lowered by analysts at Rosenblatt Securities from $62.00 to $55.00. They now have a “buy” rating on the stock.
• 10/27/2023 – Lumentum had its price target lowered by analysts at Morgan Stanley from $55.00 to $45.00. They now have an “equal weight” rating on the stock.
• 10/24/2023 – Lumentum had its price target lowered by analysts at Susquehanna from $55.00 to $45.00. They now have a “positive” rating on the stock.
• 10/21/2023 – Lumentum was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 10/13/2023 – Lumentum was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/10/2023 – Lumentum had its price target lowered by analysts at Bank of America Co. from $50.00 to $45.00. They now have an “underperform” rating on the stock.
• 10/5/2023 – Lumentum is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.

Lumentum Stock Up 0.3 %

Shares of Lumentum stock opened at $44.32 on Tuesday. The company has a quick ratio of 3.81, a current ratio of 4.53 and a debt-to-equity ratio of 1.91. Lumentum Holdings Inc. has a 12-month low of $35.35 and a 12-month high of $65.16. The firm has a market capitalization of $2.97 billion, a PE ratio of -15.13 and a beta of 1.09. The stock’s fifty day moving average is $42.72 and its 200-day moving average is $48.63.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.04. Lumentum had a positive return on equity of 6.70% and a negative net margin of 12.62%. The firm had revenue of $317.60 million for the quarter, compared to the consensus estimate of $313.98 million. Equities analysts anticipate that Lumentum Holdings Inc. will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Lumentum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP boosted its position in shares of Lumentum by 58.1% in the first quarter. ExodusPoint Capital Management LP now owns 9,961 shares of the technology company’s stock worth $538,000 after buying an additional 3,662 shares during the period. Retirement Systems of Alabama grew its stake in Lumentum by 4.8% during the 2nd quarter. Retirement Systems of Alabama now owns 303,533 shares of the technology company’s stock valued at $17,219,000 after acquiring an additional 14,032 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Lumentum by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 271,113 shares of the technology company’s stock valued at $14,643,000 after purchasing an additional 3,533 shares during the period. New Mexico Educational Retirement Board lifted its position in shares of Lumentum by 12.9% in the second quarter. New Mexico Educational Retirement Board now owns 14,000 shares of the technology company’s stock worth $794,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Community Trust & Investment Co. boosted its holdings in shares of Lumentum by 1.2% during the second quarter. Community Trust & Investment Co. now owns 153,597 shares of the technology company’s stock worth $8,714,000 after purchasing an additional 1,771 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.