Brokerages Set Lumentum Holdings Inc. (NASDAQ:LITE) Target Price at $61.75

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been assigned a consensus rating of “Buy” from the seventeen research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $61.75.

Several analysts have commented on the stock. B. Riley reissued a “buy” rating and set a $77.00 price target (up from $58.00) on shares of Lumentum Holdings in a research report on Tuesday, June 27th. Barclays PLC reissued a “hold” rating on shares of Lumentum Holdings in a research report on Friday, July 14th. BidaskClub lowered shares of Lumentum Holdings from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 1st. Northland Securities set a $55.00 price objective on shares of Lumentum Holdings and gave the company a “hold” rating in a research report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Lumentum Holdings in a research report on Friday, May 5th.

Lumentum Holdings (NASDAQ:LITE) traded up 0.85% during mid-day trading on Friday, reaching $59.25. 3,531,601 shares of the company’s stock were exchanged. The firm’s market capitalization is $3.62 billion. The company’s 50-day moving average is $61.85 and its 200 day moving average is $51.73. Lumentum Holdings has a one year low of $29.86 and a one year high of $68.63.

In related news, COO Vincent Retort sold 2,029 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $54.26, for a total value of $110,093.54. Following the transaction, the chief operating officer now owns 68,448 shares in the company, valued at approximately $3,713,988.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alan S. Lowe sold 5,954 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $54.29, for a total transaction of $323,242.66. Following the completion of the transaction, the chief executive officer now owns 153,439 shares in the company, valued at approximately $8,330,203.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,813 shares of company stock worth $648,776. 0.76% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of LITE. BlackRock Inc. increased its position in shares of Lumentum Holdings by 151,490.5% in the first quarter. BlackRock Inc. now owns 6,441,080 shares of the technology company’s stock valued at $343,632,000 after buying an additional 6,436,831 shares during the period. Alliancebernstein L.P. increased its position in shares of Lumentum Holdings by 2,347.2% in the first quarter. Alliancebernstein L.P. now owns 1,837,130 shares of the technology company’s stock valued at $98,011,000 after buying an additional 1,762,060 shares during the period. Wellington Management Group LLP increased its position in shares of Lumentum Holdings by 702.0% in the first quarter. Wellington Management Group LLP now owns 1,480,805 shares of the technology company’s stock valued at $79,000,000 after buying an additional 1,296,173 shares during the period. Bank of New York Mellon Corp increased its position in shares of Lumentum Holdings by 71.2% in the second quarter. Bank of New York Mellon Corp now owns 2,662,272 shares of the technology company’s stock valued at $151,883,000 after buying an additional 1,107,107 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Lumentum Holdings during the first quarter valued at $55,001,000. Institutional investors own 95.06% of the company’s stock.

WARNING: “Brokerages Set Lumentum Holdings Inc. (NASDAQ:LITE) Target Price at $61.75” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.com-unik.info/2017/08/19/brokerages-set-lumentum-holdings-inc-nasdaqlite-target-price-at-61-75-updated.html.

About Lumentum Holdings

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

What are top analysts saying about Lumentum Holdings Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Lumentum Holdings Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit