Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Recommendation of “Hold” by Analysts

Lumentum Holdings Inc. (NASDAQ:LITE) has received an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $52.69.

A number of equities research analysts recently commented on the stock. Susquehanna lowered their price objective on shares of Lumentum from $65.00 to $60.00 and set a “positive” rating on the stock in a research note on Friday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of Lumentum from $62.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, April 11th. Raymond James raised their price target on shares of Lumentum from $51.50 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $62.00 price target on shares of Lumentum in a research note on Monday, April 1st. Finally, Craig Hallum raised shares of Lumentum from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd.

Insider Buying and Selling

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of Lumentum 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 owns 33,188 shares in the company, valued at $1,633,845.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Institutional Trading of Lumentum

Several institutional investors have recently added to or reduced their stakes in LITE. HighTower Advisors LLC increased its stake in Lumentum by 6.7% during the first quarter. HighTower Advisors LLC now owns 5,729 shares of the technology company’s stock valued at $557,000 after purchasing an additional 358 shares during the last quarter. Private Advisor Group LLC increased its stake in Lumentum by 23.3% during the first quarter. Private Advisor Group LLC now owns 5,083 shares of the technology company’s stock valued at $496,000 after purchasing an additional 960 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Lumentum by 10.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,461 shares of the technology company’s stock valued at $2,583,000 after purchasing an additional 2,490 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Lumentum by 7.4% during the first quarter. Great West Life Assurance Co. Can now owns 39,147 shares of the technology company’s stock valued at $3,926,000 after acquiring an additional 2,686 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Lumentum by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 805,662 shares of the technology company’s stock valued at $78,633,000 after acquiring an additional 53,978 shares during the period. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Down 1.6 %

Shares of Lumentum stock opened at $41.74 on Friday. 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 one year low of $35.35 and a one year high of $65.16. The company has a market cap of $2.81 billion, a P/E ratio of -10.59 and a beta of 1.09. The firm has a fifty day moving average of $47.57 and a two-hundred day moving average of $47.03.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. The company had revenue of $366.80 million for the quarter, compared to analyst estimates of $363.44 million. On average, analysts forecast that Lumentum will post -0.61 earnings per share for the current year.

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.