Lumentum (LITE) Given Buy Rating at Northland Securities

Northland Securities reiterated their buy rating on shares of Lumentum (NASDAQ:LITE) in a research note issued to investors on Wednesday morning. The brokerage currently has a $82.00 target price on the technology company’s stock.

A number of other research analysts also recently weighed in on LITE. Zacks Investment Research raised shares of Lumentum from a hold rating to a buy rating and set a $66.00 target price for the company in a research report on Wednesday, October 11th. Needham & Company LLC reissued a buy rating and set a $80.00 target price on shares of Lumentum in a research report on Thursday, October 12th. Rosenblatt Securities set a $75.00 target price on shares of Lumentum and gave the company a buy rating in a research report on Tuesday, October 24th. Jefferies Group reissued a buy rating and set a $75.00 target price on shares of Lumentum in a research report on Wednesday, November 1st. Finally, Craig Hallum reaffirmed a buy rating and issued a $85.00 price objective (up from $75.00) on shares of Lumentum in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. Lumentum has an average rating of Buy and an average price target of $70.41.

Lumentum (NASDAQ:LITE) opened at $53.60 on Wednesday. Lumentum has a 52-week low of $40.35 and a 52-week high of $68.63. The firm has a market cap of $3,222.96, a P/E ratio of 36.71, a PEG ratio of 1.00 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.38 and a current ratio of 4.84.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The firm had revenue of $404.60 million during the quarter, compared to the consensus estimate of $357.03 million. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 52.7% compared to the same quarter last year. sell-side analysts anticipate that Lumentum will post 2.64 earnings per share for the current fiscal year.

In related news, Director Martin A. Kaplan sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $57.07, for a total value of $856,050.00. Following the completion of the transaction, the director now directly owns 29,573 shares of the company’s stock, valued at approximately $1,687,731.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Penny Herscher sold 822 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $50.61, for a total transaction of $41,601.42. Following the completion of the transaction, the director now directly owns 34,793 shares of the company’s stock, valued at $1,760,873.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,643 shares of company stock valued at $1,806,554. 0.76% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in Lumentum in the 4th quarter valued at $128,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lumentum by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,135 shares during the period. Virtu KCG Holdings LLC bought a new position in Lumentum in the 2nd quarter valued at $226,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Lumentum in the 3rd quarter valued at $234,000. Finally, CIBC Asset Management Inc bought a new position in Lumentum in the 4th quarter valued at $236,000.

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About Lumentum

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 (NASDAQ:LITE)

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