Lumentum (LITE) Receives Buy Rating from Craig Hallum

Craig Hallum reissued their buy rating on shares of Lumentum (NASDAQ:LITE) in a research report sent to investors on Tuesday, The Fly reports. They currently have a $90.00 price target on the technology company’s stock, up from their previous price target of $85.00.

Several other research analysts have also recently issued reports on LITE. Piper Jaffray Companies reaffirmed a buy rating and set a $68.00 target price on shares of Lumentum in a research report on Monday, October 9th. Zacks Investment Research raised Lumentum from a hold rating to a buy rating and set a $66.00 price objective on the stock in a research report on Wednesday, October 11th. Needham & Company LLC reissued a buy rating and issued a $80.00 price objective on shares of Lumentum in a research report on Thursday, October 12th. Rosenblatt Securities set a $75.00 price objective on Lumentum and gave the stock a buy rating in a research report on Tuesday, October 24th. Finally, Jefferies Group reissued a buy rating and issued a $75.00 price objective on shares of Lumentum in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Lumentum currently has an average rating of Buy and a consensus target price of $70.41.

Lumentum (LITE) opened at $57.20 on Tuesday. The stock has a market capitalization of $3,540.00 and a P/E ratio of 39.45. The company has a current ratio of 4.84, a quick ratio of 4.38 and a debt-to-equity ratio of 0.38. Lumentum has a 1 year low of $40.35 and a 1 year high of $68.63.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.67. The company had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $357.03 million. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. Lumentum’s quarterly revenue was up 52.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. research analysts forecast that Lumentum will post 2.69 EPS for the current year.

In other Lumentum news, Director Martin A. Kaplan sold 15,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $57.07, for a total value of $856,050.00. Following the sale, the director now directly owns 29,573 shares in the company, valued at $1,687,731.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aaron Tachibana sold 1,248 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $60.00, for a total value of $74,880.00. Following the completion of the sale, the chief financial officer now owns 69,830 shares in the company, valued at $4,189,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,643 shares of company stock worth $1,806,554. Corporate insiders own 0.76% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LITE. Wells Fargo & Company MN raised its stake in shares of Lumentum by 60.5% in the second quarter. Wells Fargo & Company MN now owns 110,876 shares of the technology company’s stock valued at $6,326,000 after buying an additional 41,808 shares during the period. New York State Common Retirement Fund raised its stake in shares of Lumentum by 5.6% in the second quarter. New York State Common Retirement Fund now owns 94,820 shares of the technology company’s stock valued at $5,409,000 after buying an additional 5,031 shares during the period. Northern Trust Corp raised its stake in shares of Lumentum by 21.4% in the second quarter. Northern Trust Corp now owns 784,841 shares of the technology company’s stock valued at $44,776,000 after buying an additional 138,259 shares during the period. Vanguard Group Inc. raised its stake in shares of Lumentum by 2.3% in the second quarter. Vanguard Group Inc. now owns 5,330,153 shares of the technology company’s stock valued at $304,085,000 after buying an additional 122,150 shares during the period. Finally, FMR LLC raised its stake in shares of Lumentum by 38.8% in the second quarter. FMR LLC now owns 1,249,049 shares of the technology company’s stock valued at $71,259,000 after buying an additional 348,980 shares during the period.

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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).

The Fly

Analyst Recommendations for Lumentum (NASDAQ:LITE)

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