Lumentum (NASDAQ:LITE) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Lumentum (NASDAQ:LITEFree Report) in a research report report published on Monday, Benzinga reports. Stifel Nicolaus currently has a $62.00 target price on the technology company’s stock.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Lumentum from $63.00 to $62.00 and set an overweight rating for the company in a research note on Friday, February 9th. Susquehanna decreased their price objective on shares of Lumentum from $65.00 to $60.00 and set a positive rating for the company in a research report on Friday, February 9th. Needham & Company LLC reaffirmed a buy rating and set a $50.00 price objective on shares of Lumentum in a research report on Friday, February 9th. Rosenblatt Securities lifted their price objective on shares of Lumentum from $60.00 to $65.00 and gave the stock a buy rating in a research report on Friday, February 9th. Finally, Craig Hallum raised shares of Lumentum from a hold rating to a buy rating in a research report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $52.14.

View Our Latest Report on Lumentum

Lumentum Stock Up 1.7 %

Lumentum stock opened at $48.15 on Monday. The firm has a 50 day moving average price of $50.43 and a 200 day moving average price of $47.20. The company has a market capitalization of $3.25 billion, a PE ratio of -12.22 and a beta of 1.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.42 and a current ratio of 3.13. Lumentum has a fifty-two week low of $35.35 and a fifty-two week high of $65.16.

Lumentum (NASDAQ:LITEGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The business had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. Research analysts expect that Lumentum will post -0.59 earnings per share for the current year.

Insider Activity at Lumentum

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $49.23, for a total value of $487,524.69. Following the completion of the sale, the chief accounting officer now directly owns 33,188 shares of the company’s stock, valued at $1,633,845.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors and hedge funds have recently made changes to their positions in LITE. Norges Bank purchased a new stake in shares of Lumentum in the fourth quarter valued at about $53,785,000. Earnest Partners LLC raised its holdings in shares of Lumentum by 576.4% in the first quarter. Earnest Partners LLC now owns 680,435 shares of the technology company’s stock valued at $66,410,000 after buying an additional 579,835 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Lumentum in the fourth quarter valued at about $29,675,000. Vanguard Group Inc. raised its holdings in shares of Lumentum by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 7,196,205 shares of the technology company’s stock valued at $377,225,000 after buying an additional 442,177 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of Lumentum by 88.1% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 939,269 shares of the technology company’s stock valued at $49,236,000 after buying an additional 439,907 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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