Lumentum Holdings Inc. (NASDAQ:LITE) Receives $87.40 Average PT from Analysts

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $87.40.

A number of analysts recently commented on LITE shares. UBS Group increased their price target on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Jefferies Financial Group assumed coverage on Lumentum in a research report on Friday, February 21st. They set a “buy” rating for the company. B. Riley lifted their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Finally, Raymond James upgraded shares of Lumentum from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $96.00 to $82.00 in a report on Monday, March 24th.

Lumentum Stock Performance

NASDAQ LITE opened at $52.26 on Friday. The company has a fifty day moving average price of $71.02 and a 200-day moving average price of $76.32. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -6.80 and a beta of 1.14. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum has a 1 year low of $38.29 and a 1 year high of $104.00.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. As a group, equities research analysts predict that Lumentum will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its position in shares of Lumentum by 85.5% in 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. lifted its stake in Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 130 shares during the period. CoreCap Advisors LLC grew its position in shares of Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock valued at $33,000 after purchasing an additional 380 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of 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 purchasing 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.