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.

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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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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