Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $87.40.
A number of research firms have weighed in on LITE. Raymond James upgraded Lumentum from an "outperform" rating to a "strong-buy" rating and cut their price target for the company from $96.00 to $82.00 in a research note on Monday, March 24th. Northland Capmk raised Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday. Jefferies Financial Group assumed coverage on Lumentum in a research note on Friday, February 21st. They issued a "buy" rating on the stock. Northland Securities upgraded shares of Lumentum from a "market perform" rating to an "outperform" rating in a research report on Monday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th.
View Our Latest Stock Report on Lumentum
Insider Buying and Selling
In related news, CFO Wajid Ali sold 2,172 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the transaction, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in LITE. J.Safra Asset Management Corp raised its holdings in Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock worth $43,000 after purchasing an additional 122 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after buying an additional 130 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Lumentum by 27.2% during the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock valued at $64,000 after purchasing an additional 164 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Lumentum by 4.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company's stock valued at $365,000 after buying an additional 168 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company's stock worth $86,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.
Lumentum Stock Performance
Shares of NASDAQ:LITE traded up $9.79 during trading on Friday, hitting $59.81. 5,106,118 shares of the stock traded hands, compared to its average volume of 1,831,197. Lumentum has a 52-week low of $38.29 and a 52-week high of $104.00. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The company has a market cap of $4.14 billion, a price-to-earnings ratio of -7.78 and a beta of 1.14. The company has a fifty day moving average price of $68.91 and a two-hundred day moving average price of $75.93.
Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, equities analysts predict that Lumentum will post 0.03 EPS for the current year.
Lumentum Company Profile
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Get Free ReportLumentum 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.
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