Lumentum Holdings Inc (LITEV) Downgraded by Goldman Sachs Group Inc. to Sell
Lumentum Holdings Inc (NASDAQ:LITEV) was downgraded by research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday.
LITEV has been the topic of several other research reports. MKM Partners reissued a “buy” rating and set a $32.00 target price (up previously from $28.00) on shares of Lumentum Holdings in a research report on Friday, July 22nd. Needham & Company LLC reissued a “strong-buy” rating on shares of Lumentum Holdings in a research report on Tuesday, July 26th. Stifel Nicolaus reissued a “buy” rating and set a $42.00 target price (up previously from $31.00) on shares of Lumentum Holdings in a research report on Thursday, August 11th. Finally, Barclays PLC reissued an “underweight” rating and set a $30.00 target price (up previously from $23.00) on shares of Lumentum Holdings in a research report on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.94.
Shares of Lumentum Holdings (NASDAQ:LITEV) remained flat at $23.45 on Wednesday. Lumentum Holdings has a 52-week low of $17.00 and a 52-week high of $26.88. The company has a 50-day moving average price of $20.13 and a 200 day moving average price of $20.13.
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About Lumentum Holdings
Lumentum Holdings Inc (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets, including data communications (Datacom) and telecommunications (Telecom) networking, and industrial and commercial lasers (commercial lasers) for manufacturing, inspection and life-sciences applications.
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