Lumentum Holdings Inc (LITE) Earns “Buy” Rating from Rosenblatt Securities
Lumentum Holdings Inc (NASDAQ:LITE)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a report issued on Thursday. They presently have a $70.00 price objective on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 23.57% from the stock’s current price.
Other research analysts have also recently issued reports about the company. B. Riley reissued a “buy” rating and set a $77.00 target price (up from $58.00) on shares of Lumentum Holdings in a research note on Tuesday, June 27th. Piper Jaffray Companies reissued an “overweight” rating and set a $68.00 target price on shares of Lumentum Holdings in a research note on Thursday, September 14th. Stifel Nicolaus reissued a “buy” rating and set a $73.00 target price on shares of Lumentum Holdings in a research note on Saturday, July 22nd. BidaskClub cut Lumentum Holdings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, UBS AG boosted their target price on Lumentum Holdings from $66.00 to $70.00 in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.75.
Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.18. Lumentum Holdings had a negative return on equity of 40.72% and a negative net margin of 24.65%. The firm had revenue of $222.70 million during the quarter, compared to analysts’ expectations of $229.45 million. During the same period in the previous year, the firm posted $0.41 EPS. Lumentum Holdings’s revenue for the quarter was down 7.9% on a year-over-year basis.
TRADEMARK VIOLATION NOTICE: “Lumentum Holdings Inc (LITE) Earns “Buy” Rating from Rosenblatt Securities” was published by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/09/21/lumentum-holdings-inc-lite-earns-buy-rating-from-rosenblatt-securities.html.
In other Lumentum Holdings news, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $69,641.52. Following the completion of the sale, the director now directly owns 26,464 shares of the company’s stock, valued at approximately $1,403,650.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan S. Lowe sold 28,095 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $51.20, for a total value of $1,438,464.00. Following the sale, the chief executive officer now directly owns 249,655 shares of the company’s stock, valued at $12,782,336. The disclosure for this sale can be found here. Insiders sold a total of 52,199 shares of company stock valued at $2,692,047 over the last three months. Company insiders own 0.76% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Gierl Augustine Investment Management purchased a new stake in Lumentum Holdings during the 4th quarter valued at approximately $0. Creative Planning raised its stake in Lumentum Holdings by 15.1% during the 1st quarter. Creative Planning now owns 1,971 shares of the technology company’s stock valued at $105,000 after acquiring an additional 258 shares during the last quarter. Riverhead Capital Management LLC raised its stake in Lumentum Holdings by 71.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock valued at $118,000 after acquiring an additional 862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lumentum Holdings by 111.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after acquiring an additional 1,406 shares during the last quarter. Finally, Fortaleza Asset Management Inc. raised its stake in Lumentum Holdings by 23.7% during the 4th quarter. Fortaleza Asset Management Inc. now owns 3,240 shares of the technology company’s stock valued at $125,000 after acquiring an additional 620 shares during the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.
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).
Receive News & Ratings for Lumentum Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum Holdings Inc and related companies with MarketBeat.com's FREE daily email newsletter.