Lumentum Holdings Inc. (LITE) Earns “Buy” Rating from Stifel Nicolaus
Lumentum Holdings Inc. (NASDAQ:LITE)‘s stock had its “buy” rating reaffirmed by stock analysts at Stifel Nicolaus in a research report issued on Saturday. They currently have a $73.00 price objective on the technology company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 15.23% from the company’s current price.
Several other equities research analysts have also commented on the company. Barclays PLC restated a “hold” rating on shares of Lumentum Holdings in a research note on Friday, July 14th. Northland Securities set a $55.00 price objective on Lumentum Holdings and gave the stock a “hold” rating in a research note on Monday, July 10th. Zacks Investment Research upgraded Lumentum Holdings from a “strong sell” rating to a “hold” rating and set a $65.00 price objective for the company in a research note on Wednesday, July 5th. B. Riley restated a “buy” rating and issued a $77.00 price objective on shares of Lumentum Holdings in a research note on Sunday, July 2nd. Finally, BidaskClub lowered Lumentum Holdings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $59.64.
Shares of Lumentum Holdings (NASDAQ LITE) traded up 4.80% during trading on Friday, hitting $63.35. The stock had a trading volume of 1,947,540 shares. Lumentum Holdings has a 1-year low of $26.51 and a 1-year high of $67.30. The firm’s market capitalization is $3.87 billion. The stock’s 50-day moving average price is $61.12 and its 200 day moving average price is $50.03.
Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.37 by $0.12. The firm had revenue of $255.80 million during the quarter, compared to analyst estimates of $257.22 million. Lumentum Holdings had a positive return on equity of 19.55% and a negative net margin of 3.28%. Lumentum Holdings’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. On average, analysts anticipate that Lumentum Holdings will post $1.90 earnings per share for the current year.
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In other Lumentum Holdings news, CEO Alan S. Lowe sold 1,085 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total value of $63,092.75. Following the completion of the sale, the chief executive officer now owns 143,447 shares in the company, valued at approximately $8,341,443.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron Tachibana sold 1,521 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.40, for a total value of $82,742.40. Following the completion of the sale, the chief financial officer now owns 45,495 shares of the company’s stock, valued at approximately $2,474,928. The disclosure for this sale can be found here. Insiders sold a total of 11,813 shares of company stock valued at $648,776 in the last quarter. 0.76% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Creative Planning raised its stake in shares of Lumentum Holdings by 15.1% in the first quarter. Creative Planning now owns 1,971 shares of the technology company’s stock worth $105,000 after buying an additional 258 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Lumentum Holdings by 69.1% in the first quarter. LS Investment Advisors LLC now owns 3,494 shares of the technology company’s stock worth $186,000 after buying an additional 1,428 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Lumentum Holdings during the first quarter worth about $206,000. Thompson Davis & CO. Inc. raised its stake in shares of Lumentum Holdings by 384.0% in the first quarter. Thompson Davis & CO. Inc. now owns 4,162 shares of the technology company’s stock worth $222,000 after buying an additional 3,302 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Lumentum Holdings during the first quarter worth about $233,000. Institutional investors and hedge funds own 95.14% of the company’s stock.
Lumentum Holdings Company Profile
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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