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.
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.
- Get a free copy of the StockNews.com research report on Lumentum (LITE)
- MarketBeat: Week in Review 5/16 – 5/20
- 3 Retailers That Defied First Quarter Headwinds
- Rapid7: Could Be Profitable in FY 2022 Despite Bear Market
- Will John Deere’s Earnings Help to Calm the Markets?
- Lowe’s Companies Has Not Bottomed
Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.