Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) has been assigned an average rating of "Moderate Buy" from the fourteen brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $111.75.
LITE has been the subject of several recent research reports. TheStreet upgraded Lumentum from a "c+" rating to a "b-" rating in a report on Monday, August 15th. Raymond James increased their price target on Lumentum from $102.00 to $114.00 and gave the company an "outperform" rating in a report on Wednesday, August 17th. JPMorgan Chase & Co. lowered their price target on Lumentum from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, July 14th. Needham & Company LLC restated a "buy" rating and set a $125.00 target price on shares of Lumentum in a research note on Monday, June 6th. Finally, StockNews.com upgraded Lumentum from a "hold" rating to a "buy" rating in a research note on Tuesday.
Get Lumentum alerts:Insider Transactions at Lumentum
In other Lumentum news, CEO Alan S. Lowe sold 8,809 shares of the firm's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $94.94, for a total value of $836,326.46. Following the transaction, the chief executive officer now owns 139,946 shares of the company's stock, valued at $13,286,473.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lumentum news, CEO Alan S. Lowe sold 8,809 shares of the firm's stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $94.94, for a total value of $836,326.46. Following the transaction, the chief executive officer now owns 139,946 shares of the company's stock, valued at $13,286,473.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 8,781 shares of the firm's stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $92.47, for a total transaction of $811,979.07. Following the completion of the transaction, the chief financial officer now directly owns 31,194 shares in the company, valued at approximately $2,884,509.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,620 shares of company stock valued at $1,909,492. Insiders own 0.32% of the company's stock.
Institutional Investors Weigh In On Lumentum
Hedge funds have recently made changes to their positions in the business. Urban Wealth Management LLC bought a new stake in shares of Lumentum during the second quarter valued at approximately $29,000. Assetmark Inc. acquired a new position in shares of Lumentum during the second quarter valued at approximately $30,000. Richelieu Gestion PLC acquired a new position in shares of Lumentum during the first quarter valued at approximately $32,000. Twin Tree Management LP acquired a new position in shares of Lumentum during the first quarter valued at approximately $36,000. Finally, Private Capital Group LLC increased its stake in shares of Lumentum by 4,000.0% during the first quarter. Private Capital Group LLC now owns 451 shares of the technology company's stock valued at $44,000 after acquiring an additional 440 shares during the period. Institutional investors own 95.49% of the company's stock.Lumentum Trading Down 1.8 %
Shares of LITE opened at $71.27 on Friday. The company has a current ratio of 4.38, a quick ratio of 4.03 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $4.85 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The stock's fifty day simple moving average is $85.24 and its 200 day simple moving average is $85.94. Lumentum has a twelve month low of $70.66 and a twelve month high of $108.90.
Lumentum (NASDAQ:LITE – Get Rating) last issued its earnings results on Tuesday, August 16th. The technology company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.08. The business had revenue of $422.10 million for the quarter, compared to analyst estimates of $417.99 million. Lumentum had a return on equity of 18.66% and a net margin of 11.61%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. On average, equities research analysts forecast that Lumentum will post 4.93 earnings per share for the current year.
Lumentum Company Profile
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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. The company operates in 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.
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