Lumentum Holdings Inc. (NASDAQ:LITE)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Thursday. They currently have a $80.00 price objective on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 37.93% from the stock’s current price.

Several other brokerages have also recently issued reports on LITE. B. Riley reissued a “buy” rating and issued a $77.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 3rd. UBS AG increased their price objective on Lumentum Holdings from $66.00 to $70.00 in a research note on Wednesday, August 9th. Rosenblatt Securities set a $70.00 price objective on Lumentum Holdings and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC reissued a “buy” rating and issued a $72.00 price objective (up previously from $63.00) on shares of Lumentum Holdings in a research note on Thursday, August 10th. Finally, Zacks Investment Research cut Lumentum Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lumentum Holdings presently has a consensus rating of “Buy” and a consensus price target of $66.31.

Lumentum Holdings (NASDAQ:LITE) traded up 3.36% on Thursday, hitting $59.95. The stock had a trading volume of 694,878 shares. The firm’s market capitalization is $3.69 billion. The stock’s 50-day moving average is $56.35 and its 200 day moving average is $56.35. Lumentum Holdings has a 1-year low of $32.90 and a 1-year high of $68.63.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.18. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. The company had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Lumentum Holdings’s revenue was down 7.9% compared to the same quarter last year. On average, equities research analysts predict that Lumentum Holdings will post $3.08 earnings per share for the current fiscal year.

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In other Lumentum Holdings news, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction 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 owns 26,464 shares in the company, valued at $1,403,650.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Alan S. Lowe sold 4,364 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $54.59, for a total value of $238,230.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,269 shares of company stock valued at $4,602,526. 0.76% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Suntrust Banks Inc. lifted its holdings in Lumentum Holdings by 0.4% during the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock worth $539,000 after buying an additional 37 shares during the period. LS Investment Advisors LLC lifted its holdings in Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after buying an additional 75 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Lumentum Holdings by 1.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 12,500 shares of the technology company’s stock worth $667,000 after buying an additional 200 shares during the period. Arizona State Retirement System lifted its holdings in Lumentum Holdings by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after buying an additional 200 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Lumentum Holdings by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after buying an additional 447 shares during the period. Institutional investors own 95.74% 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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