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.
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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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).
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