Lumentum Holdings Inc. (NASDAQ:LITE) Given Average Rating of "Moderate Buy" by Analysts

Shares of Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $81.92.

Several equities analysts have recently issued reports on LITE shares. Barclays raised Lumentum from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $80.00 to $125.00 in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 target price on shares of Lumentum in a report on Thursday, January 9th. Rosenblatt Securities upped their target price on shares of Lumentum from $69.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Susquehanna raised their price target on shares of Lumentum from $80.00 to $115.00 and gave the company a "positive" rating in a research report on Friday, November 8th. Finally, Raymond James upped their price objective on Lumentum from $70.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, November 8th.

Lumentum Stock Up 5.7 %

LITE stock traded up $5.05 on Monday, reaching $94.41. 1,873,365 shares of the company traded hands, compared to its average volume of 1,184,265. The firm has a fifty day simple moving average of $86.72 and a 200-day simple moving average of $68.34. The company has a market cap of $6.49 billion, a P/E ratio of -11.40 and a beta of 0.94. Lumentum has a one year low of $38.28 and a one year high of $96.25. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04.

Insider Activity at Lumentum

In other news, CAO Matthew Joseph Sepe sold 8,172 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the transaction, the chief accounting officer now owns 21,138 shares of the company's stock, valued at $1,851,688.80. This trade represents a 27.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harold L. Covert sold 15,000 shares of Lumentum stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total value of $1,307,550.00. Following the transaction, the director now directly owns 8,761 shares in the company, valued at approximately $763,696.37. The trade was a 63.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,797 shares of company stock worth $8,881,428. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LITE. Quarry LP raised its holdings in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company's stock valued at $28,000 after acquiring an additional 201 shares during the period. UMB Bank n.a. raised its stake in Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after purchasing an additional 253 shares during the period. Capital Performance Advisors LLP purchased a new position in Lumentum in the 3rd quarter worth approximately $33,000. Point72 DIFC Ltd bought a new position in Lumentum in the 2nd quarter worth approximately $36,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company's stock valued at $42,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

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.