Lumentum Holdings Inc. (NASDAQ:LITE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) has earned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $111.75.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced 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 price target on shares of Lumentum in a report on Monday, June 6th. Bank of America began coverage on Lumentum in a report on Tuesday, September 6th. They set a “buy” rating and a $105.00 price target for the company. Raymond James lifted their price objective on Lumentum from $102.00 to $114.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Finally, TheStreet upgraded Lumentum from a “c+” rating to a “b-” rating in a report on Monday, August 15th.

Insider Buying and Selling

In related news, CAO Matthew Joseph Sepe sold 3,030 shares of Lumentum stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $86.20, for a total transaction of $261,186.00. Following the transaction, the chief accounting officer now owns 25,288 shares in the company, valued at $2,179,825.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Lumentum news, CEO Alan S. Lowe sold 8,809 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 139,946 shares of the company’s stock, valued at $13,286,473.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Matthew Joseph Sepe sold 3,030 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $86.20, for a total value of $261,186.00. Following the sale, the chief accounting officer now directly owns 25,288 shares of the company’s stock, valued at approximately $2,179,825.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,620 shares of company stock worth $1,909,492. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors have recently modified their holdings of the company. Greenleaf Trust grew its stake in shares of Lumentum by 2.3% in the first quarter. Greenleaf Trust now owns 5,417 shares of the technology company’s stock valued at $529,000 after buying an additional 124 shares in the last quarter. Rothschild Investment Corp IL grew its stake in Lumentum by 0.8% during the 2nd 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 in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Lumentum by 0.9% during the 2nd 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 in the last quarter. Cetera Investment Advisers grew its stake in Lumentum by 0.8% during the 2nd 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 in the last quarter. Finally, Baird Financial Group Inc. grew its stake in Lumentum by 1.1% during the 2nd 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 in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

NASDAQ LITE opened at $71.27 on Friday. The company has a market cap of $4.85 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. Lumentum has a 52 week low of $70.66 and a 52 week high of $108.90. The company has a quick ratio of 4.03, a current ratio of 4.38 and a debt-to-equity ratio of 0.78. The firm’s 50-day simple moving average is $85.24 and its two-hundred day simple moving average is $85.94.

Lumentum (NASDAQ:LITEGet Rating) last posted its quarterly earnings data 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. Lumentum had a net margin of 11.61% and a return on equity of 18.66%. The company had revenue of $422.10 million for the quarter, compared to analysts’ expectations of $417.99 million. During the same period in the prior year, the business earned $0.84 earnings per share. Lumentum’s revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts predict that Lumentum will post 4.93 earnings per share for the current year.

About Lumentum

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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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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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