Lumentum Holdings Inc (LITEV) Rating Lowered to Sell at Goldman Sachs Group Inc.
Lumentum Holdings Inc (NASDAQ:LITEV) was downgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday.
Several other research analysts also recently commented on LITEV. Stifel Nicolaus reaffirmed a “buy” rating and issued a $42.00 target price (up from $31.00) on shares of Lumentum Holdings in a research note on Thursday, August 11th. Barclays PLC reaffirmed an “underweight” rating and issued a $30.00 target price (up from $23.00) on shares of Lumentum Holdings in a research note on Thursday, August 11th. MKM Partners reiterated a “buy” rating and issued a $32.00 price target (up previously from $28.00) on shares of Lumentum Holdings in a report on Friday, July 22nd. Finally, Needham & Company LLC reiterated a “strong-buy” rating on shares of Lumentum Holdings in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. 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 during mid-day trading on Wednesday. The stock has a 50 day moving average price of $20.13 and a 200 day moving average price of $20.13. Lumentum Holdings has a 52 week low of $17.00 and a 52 week high of $26.88.
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Several hedge funds have recently made changes to their positions in LITEV. Rhumbline Advisers boosted its stake in shares of Lumentum Holdings by 4.2% in the fourth quarter. Rhumbline Advisers now owns 47,732 shares of the company’s stock worth $1,051,000 after buying an additional 1,926 shares during the period. TD Asset Management Inc. acquired a new stake in shares of Lumentum Holdings during the fourth quarter worth approximately $1,101,000. California State Teachers Retirement System boosted its stake in shares of Lumentum Holdings by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 89,496 shares of the company’s stock worth $1,971,000 after buying an additional 1,500 shares during the period. Thompson Investment Management Inc. boosted its stake in shares of Lumentum Holdings by 0.6% in the fourth quarter. Thompson Investment Management Inc. now owns 148,081 shares of the company’s stock worth $3,260,000 after buying an additional 924 shares during the period. Finally, Oxford Asset Management boosted its stake in shares of Lumentum Holdings by 16.5% in the fourth quarter. Oxford Asset Management now owns 366,311 shares of the company’s stock worth $8,264,000 after buying an additional 51,992 shares during the period.
Lumentum Holdings Company Profile
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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