Shares of Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) reached a new 52-week low on Monday . The company traded as low as $68.79 and last traded at $68.83, with a volume of 17128 shares. The stock had previously closed at $70.40.
Analysts Set New Price Targets
LITE has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Lumentum from $94.00 to $98.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 17th. StockNews.com raised shares of Lumentum from a "hold" rating to a "buy" rating in a report on Tuesday, September 20th. Craig Hallum increased their price objective on shares of Lumentum to $125.00 in a report on Monday, August 15th. Barclays dropped their price objective on shares of Lumentum from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, July 25th. Finally, Raymond James increased their price objective on shares of Lumentum from $102.00 to $114.00 and gave the stock an "outperform" rating in a report on Wednesday, August 17th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $111.75.
Get Lumentum alerts:Lumentum Stock Performance
The company's 50 day simple moving average is $85.01 and its 200 day simple moving average is $85.69. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.06 and a beta of 0.94. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.03 and a current ratio of 4.38.
Lumentum (NASDAQ:LITE – Get Rating) last announced its quarterly earnings data on Tuesday, August 16th. The technology company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.08. The company had revenue of $422.10 million for the quarter, compared to analysts' expectations of $417.99 million. Lumentum had a net margin of 11.61% and a return on equity of 18.66%. The business's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post 4.93 earnings per share for the current year.Insider Transactions at Lumentum
In other news, CAO Matthew Joseph Sepe sold 3,030 shares of Lumentum stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $86.20, for a total value of $261,186.00. Following the transaction, the chief accounting officer now owns 25,288 shares of the company's stock, valued at approximately $2,179,825.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lumentum news, CAO Matthew Joseph Sepe sold 3,030 shares of the firm's stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $86.20, for a total value of $261,186.00. Following the completion of the transaction, the chief accounting officer now directly owns 25,288 shares in the company, valued at $2,179,825.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Alan S. Lowe sold 8,809 shares of the firm's stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $94.94, for a total transaction of $836,326.46. Following the completion of the transaction, the chief executive officer now owns 139,946 shares of the company's stock, valued at $13,286,473.24. The disclosure for this sale can be found here. Insiders have sold 20,620 shares of company stock valued at $1,909,492 in the last quarter. Insiders own 0.30% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in LITE. Greenleaf Trust boosted its holdings in shares of Lumentum by 2.3% during the first quarter. Greenleaf Trust now owns 5,417 shares of the technology company's stock worth $529,000 after purchasing an additional 124 shares during the period. Rothschild Investment Corp IL boosted its holdings in shares of Lumentum by 0.8% during the second quarter. Rothschild Investment Corp IL now owns 17,117 shares of the technology company's stock worth $1,360,000 after purchasing an additional 130 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Lumentum by 0.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,863 shares of the technology company's stock worth $1,339,000 after purchasing an additional 152 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Lumentum by 0.8% during the second quarter. Cetera Investment Advisers now owns 20,212 shares of the technology company's stock worth $1,605,000 after purchasing an additional 157 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in shares of Lumentum by 1.1% during the second quarter. Baird Financial Group Inc. now owns 15,109 shares of the technology company's stock worth $1,200,000 after purchasing an additional 167 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.
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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