Lumentum Holdings Inc. (NASDAQ:LITE)‘s stock had its “buy” rating reissued by equities research analysts at B. Riley in a report released on Sunday. They currently have a $81.00 target price on the technology company’s stock. B. Riley’s target price indicates a potential upside of 55.92% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Needham & Company LLC reiterated a “strong-buy” rating and set a $80.00 price objective on shares of Lumentum Holdings in a research report on Thursday. Jefferies Group LLC reiterated a “buy” rating and set a $72.00 price objective (up previously from $63.00) on shares of Lumentum Holdings in a research report on Thursday. DA Davidson reiterated a “buy” rating and set a $83.00 price objective (up previously from $77.00) on shares of Lumentum Holdings in a research report on Thursday. Barclays PLC increased their price objective on shares of Lumentum Holdings from $50.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Lumentum Holdings presently has an average rating of “Buy” and an average price target of $64.75.

Lumentum Holdings (LITE) traded down 2.07% during mid-day trading on Friday, reaching $51.95. 2,551,066 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $60.82 and a 200-day moving average price of $52.69. The stock’s market capitalization is $3.19 billion. Lumentum Holdings has a 12-month low of $31.50 and a 12-month high of $68.63.

Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.18. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The business had revenue of $222.70 million during the quarter, compared to analyst estimates of $229.45 million. During the same quarter last year, the business earned $0.41 earnings per share. Lumentum Holdings’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities research analysts expect that Lumentum Holdings will post $3.02 EPS for the current year.

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In related news, CFO Aaron Tachibana sold 1,521 shares of Lumentum Holdings stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $54.40, for a total transaction of $82,742.40. Following the completion of the sale, the chief financial officer now owns 45,495 shares in the company, valued at approximately $2,474,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Vincent Retort sold 805 shares of Lumentum Holdings stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $58.15, for a total transaction of $46,810.75. Following the sale, the chief operating officer now 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. Insiders have 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.

A number of large investors have recently made changes to their positions in LITE. Gierl Augustine Investment Management bought a new stake in shares of Lumentum Holdings during the fourth quarter worth $0. 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. Riverhead Capital Management LLC raised its stake in shares of Lumentum Holdings by 71.8% in the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after buying an additional 862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Lumentum Holdings by 111.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares during the last quarter. Finally, Fortaleza Asset Management Inc. raised its stake in shares of Lumentum Holdings by 23.7% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,240 shares of the technology company’s stock worth $125,000 after buying an additional 620 shares during the last quarter. Institutional investors own 95.06% 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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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