Lumentum Holdings Inc. (NASDAQ:LITE) Given Average Rating of “Buy” by Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE – Get Rating) has received an average rating of “Buy” from the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $106.87.

Several analysts recently weighed in on the company. TheStreet downgraded Lumentum from a “b” rating to a “c+” rating in a research report on Monday, May 16th. Northland Securities upped their price objective on Lumentum from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 9th. Morgan Stanley upped their price objective on Lumentum from $91.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, February 4th. Susquehanna dropped their price objective on Lumentum from $120.00 to $110.00 in a research report on Thursday, May 5th. Finally, Susquehanna Bancshares dropped their price objective on Lumentum from $120.00 to $110.00 in a research report on Thursday, May 5th.

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

Several large investors have recently added to or reduced their stakes in LITE. Alyeska Investment Group L.P. increased its stake in shares of Lumentum by 465.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 930,738 shares of the technology company’s stock valued at $90,840,000 after acquiring an additional 766,170 shares in the last quarter. Norges Bank acquired a new stake in Lumentum in the 4th quarter valued at $70,857,000. Point72 Asset Management L.P. acquired a new stake in Lumentum in the 3rd quarter valued at $54,000,000. Earnest Partners LLC grew its position in Lumentum by 576.4% in the 1st quarter. Earnest Partners LLC now owns 680,435 shares of the technology company’s stock valued at $66,410,000 after purchasing an additional 579,835 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Lumentum in the 4th quarter valued at $57,430,000. Institutional investors own 92.49% of the company’s stock.

Shares of NASDAQ LITE opened at $87.08 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 4.69 and a quick ratio of 4.35. The stock’s fifty day moving average price is $89.60 and its two-hundred day moving average price is $94.47. Lumentum has a one year low of $77.32 and a one year high of $108.90. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 35.40 and a beta of 0.91.

Lumentum (NASDAQ:LITE – Get Rating) last released its earnings results on Wednesday, May 4th. The technology company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $395.40 million during the quarter, compared to the consensus estimate of $390.16 million. Lumentum had a return on equity of 17.57% and a net margin of 11.04%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.08 EPS. On average, equities analysts anticipate that Lumentum will post 4.72 earnings per share for the current fiscal year.

Lumentum Company Profile (Get Rating)

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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