Brokerages Set Lumentum Holdings Inc. (NASDAQ:LITE) Target Price at $75.38

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $75.38.

LITE has been the topic of several recent research reports. Northland Securities raised their target price on shares of Lumentum from $45.00 to $60.00 and gave the stock a "market perform" rating in a report on Friday, November 8th. Susquehanna raised their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a "positive" rating in a report on Friday, November 8th. Rosenblatt Securities raised their target price on shares of Lumentum from $69.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Morgan Stanley raised their target price on shares of Lumentum from $76.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 17th. Finally, Barclays raised their target price on shares of Lumentum from $40.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, November 11th.

Insider Buying and Selling at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the sale, the chief accounting officer now owns 21,138 shares in the company, valued at $1,851,688.80. This trade represents a 27.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the transaction, the insider now owns 147,515 shares in the company, valued at approximately $13,205,542.80. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,797 shares of company stock worth $8,881,428 over the last quarter. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Lumentum by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company's stock worth $86,760,000 after purchasing an additional 130,838 shares during the period. Atreides Management LP lifted its holdings in shares of Lumentum by 28.5% during the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company's stock worth $107,177,000 after purchasing an additional 375,389 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lumentum by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company's stock worth $75,198,000 after purchasing an additional 15,799 shares during the period. Divisar Capital Management LLC lifted its holdings in shares of Lumentum by 5.8% during the second quarter. Divisar Capital Management LLC now owns 961,574 shares of the technology company's stock worth $48,963,000 after purchasing an additional 52,300 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Lumentum by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company's stock worth $46,784,000 after buying an additional 37,109 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Lumentum Stock Performance

Shares of LITE traded up $1.35 during mid-day trading on Thursday, hitting $85.69. 677,946 shares of the company's stock were exchanged, compared to its average volume of 1,498,979. Lumentum has a 52 week low of $38.28 and a 52 week high of $96.25. The stock's 50-day simple moving average is $80.61 and its 200-day simple moving average is $63.93. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of -10.35 and a beta of 0.95. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87.

Lumentum Company Profile

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.