Recent Investment Analysts’ Ratings Changes for Lumentum (LITE)

Lumentum (NASDAQ: LITE) recently received a number of ratings updates from brokerages and research firms:

  • 5/16/2022 – Lumentum was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 5/10/2022 – Lumentum was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $100.00 price target on the stock. According to Zacks, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California. “
  • 5/6/2022 – Lumentum was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/5/2022 – Lumentum had its price target lowered by analysts at Susquehanna Bancshares, Inc. from $120.00 to $110.00.
  • 5/5/2022 – Lumentum had its price target lowered by analysts at B. Riley from $120.00 to $119.00.
  • 5/5/2022 – Lumentum had its price target lowered by analysts at Susquehanna from $120.00 to $110.00.
  • 5/4/2022 – Lumentum had its price target raised by analysts at Raymond James from $114.00 to $118.00.
  • 4/25/2022 – Lumentum had its price target lowered by analysts at Barclays PLC from $105.00 to $100.00. They now have an “overweight” rating on the stock.
  • 4/20/2022 – Lumentum was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California. “
  • 4/14/2022 – Lumentum had its price target lowered by analysts at Craig Hallum from $130.00 to $115.00. They now have a “buy” rating on the stock.
  • 4/7/2022 – Lumentum was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/7/2022 – Lumentum was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $104.00 price target on the stock. According to Zacks, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California. “
  • 3/30/2022 – Lumentum was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 3/23/2022 – Lumentum had its price target raised by analysts at Rosenblatt Securities from $115.00 to $125.00. They now have a “buy” rating on the stock.
  • 3/22/2022 – Lumentum was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

NASDAQ:LITE traded up $0.32 during mid-day trading on Friday, hitting $87.07. 19,317 shares of the company’s stock traded hands, compared to its average volume of 1,233,780. The firm has a 50 day moving average of $89.56 and a two-hundred day moving average of $94.47. The company has a current ratio of 4.69, a quick ratio of 4.35 and a debt-to-equity ratio of 0.76. Lumentum Holdings Inc. has a 12 month low of $76.66 and a 12 month high of $108.90. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 35.39 and a beta of 0.91.

Lumentum (NASDAQ:LITEGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The technology company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Lumentum had a return on equity of 17.57% and a net margin of 11.04%. The company had revenue of $395.40 million during the quarter, compared to the consensus estimate of $390.16 million. During the same quarter last year, the company earned $1.08 EPS. The company’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 4.72 earnings per share for the current year.

In related news, CFO Wajid Ali sold 3,287 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $89.12, for a total transaction of $292,937.44. Following the completion of the sale, the chief financial officer now directly owns 37,717 shares of the company’s stock, valued at approximately $3,361,339.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Toroso Investments LLC grew its stake in shares of Lumentum by 14.7% during the first quarter. Toroso Investments LLC now owns 2,623 shares of the technology company’s stock worth $256,000 after purchasing an additional 336 shares during the period. Van Hulzen Asset Management LLC grew its stake in shares of Lumentum by 21.1% during the first quarter. Van Hulzen Asset Management LLC now owns 10,769 shares of the technology company’s stock worth $1,051,000 after purchasing an additional 1,877 shares during the period. Keeley Teton Advisors LLC acquired a new stake in shares of Lumentum during the first quarter worth $303,000. Alyeska Investment Group L.P. grew its stake in shares of Lumentum by 465.6% during the first quarter. Alyeska Investment Group L.P. now owns 930,738 shares of the technology company’s stock worth $90,840,000 after purchasing an additional 766,170 shares during the period. Finally, Quantbot Technologies LP grew its stake in Lumentum by 62.0% in the first quarter. Quantbot Technologies LP now owns 10,623 shares of the technology company’s stock valued at $1,036,000 after acquiring an additional 4,064 shares during the period. Hedge funds and other institutional investors own 92.49% of the company’s stock.

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 in 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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