Lumentum Holdings Inc. (NASDAQ:LITE)‘s stock had its “hold” rating reiterated by analysts at Barclays PLC in a research note issued on Friday.

Several other brokerages have also recently issued reports on LITE. Jefferies Group LLC reiterated a “buy” rating and set a $56.00 price target on shares of Lumentum Holdings in a research report on Thursday, March 16th. Goldman Sachs Group, Inc. (The) upgraded Lumentum Holdings from a “sell” rating to a “neutral” rating and lifted their price target for the company from $38.00 to $45.00 in a research report on Thursday, March 16th. Stifel Nicolaus lifted their price target on Lumentum Holdings from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, March 22nd. Needham & Company LLC lifted their price target on Lumentum Holdings from $56.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Monday, June 12th. Finally, Northland Securities cut Lumentum Holdings from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $59.64.

Lumentum Holdings (NASDAQ LITE) traded down 0.39% during mid-day trading on Friday, reaching $63.80. The company’s stock had a trading volume of 1,082,210 shares. The firm’s market capitalization is $3.90 billion. Lumentum Holdings has a 52 week low of $23.02 and a 52 week high of $67.30. The firm’s 50 day moving average price is $59.03 and its 200 day moving average price is $47.94.

Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. Lumentum Holdings had a positive return on equity of 19.55% and a negative net margin of 3.28%. The company had revenue of $255.80 million for the quarter, compared to analysts’ expectations of $257.22 million. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts anticipate that Lumentum Holdings will post $1.90 EPS for the current fiscal year.

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In other news, CEO Alan S. Lowe sold 5,954 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.29, for a total value of $323,242.66. Following the completion of the sale, the chief executive officer now owns 153,439 shares of the company’s stock, valued at $8,330,203.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Vincent Retort sold 805 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total value of $46,810.75. Following the completion of the sale, the chief operating officer now directly owns 66,755 shares of the company’s stock, valued at approximately $3,881,803.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,813 shares of company stock valued at $648,776. Corporate insiders own 0.76% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Lumentum Holdings by 3.9% in the first quarter. State of Alaska Department of Revenue now owns 6,150 shares of the technology company’s stock valued at $328,000 after buying an additional 230 shares during the period. Myriad Asset Management Ltd. acquired a new stake in shares of Lumentum Holdings during the first quarter valued at approximately $8,853,000. AQR Capital Management LLC boosted its stake in shares of Lumentum Holdings by 68.1% in the fourth quarter. AQR Capital Management LLC now owns 144,751 shares of the technology company’s stock valued at $5,595,000 after buying an additional 58,646 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Lumentum Holdings by 7.8% in the first quarter. Great West Life Assurance Co. Can now owns 76,101 shares of the technology company’s stock valued at $4,055,000 after buying an additional 5,507 shares during the period. Finally, AXA boosted its stake in shares of Lumentum Holdings by 95.4% in the first quarter. AXA now owns 663,512 shares of the technology company’s stock valued at $35,398,000 after buying an additional 323,975 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

About Lumentum Holdings

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 Holdings (NASDAQ:LITE)

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