Brokerages Set Lumentum Holdings Inc. (NASDAQ:LITE) Target Price at $88.07

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $88.07.

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th. Morgan Stanley lowered their target price on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. UBS Group raised their price target on shares of Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Raymond James raised their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, 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 note on Friday, November 8th.

Lumentum Stock Performance

NASDAQ:LITE traded down $0.45 during mid-day trading on Friday, hitting $77.68. The company's stock had a trading volume of 1,783,058 shares, compared to its average volume of 2,364,608. Lumentum has a 1 year low of $38.28 and a 1 year high of $104.00. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of -10.10 and a beta of 0.94. The business's fifty day moving average is $86.25 and its two-hundred day moving average is $72.94.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.00%. Analysts anticipate that Lumentum will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, Director Julia Suzanne Johnson sold 2,058 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $85.82, for a total transaction of $176,617.56. Following the completion of the transaction, the director now owns 23,287 shares of the company's stock, valued at approximately $1,998,490.34. This trade represents a 8.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Vincent Retort sold 41,710 shares of the stock in a transaction that occurred 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 directly owns 147,515 shares of the company's stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,000 shares of company stock worth $6,726,239. Insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Lumentum

Hedge funds have recently made changes to their positions in the stock. J.Safra Asset Management Corp boosted its position in Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company's stock valued at $43,000 after buying an additional 122 shares during the period. Jones Financial Companies Lllp boosted its position in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock valued at $31,000 after buying an additional 130 shares during the period. Signaturefd LLC boosted its position in Lumentum by 13.8% in the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company's stock valued at $83,000 after buying an additional 158 shares during the period. Quadrant Capital Group LLC boosted its position in Lumentum by 27.2% in the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company's stock valued at $64,000 after buying an additional 164 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in 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 period. 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.