Lumentum Holdings Inc. (NASDAQ:LITE) had its price target raised by equities researchers at Barclays PLC from $59.00 to $65.00 in a research note issued to investors on Thursday. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays PLC’s price target points to a potential upside of 2.93% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. B. Riley restated a “buy” rating and issued a $81.00 price target on shares of Lumentum Holdings in a research report on Tuesday, August 8th. Piper Jaffray Companies restated an “overweight” rating and issued a $68.00 price target on shares of Lumentum Holdings in a research report on Thursday, September 14th. DA Davidson boosted their price target on shares of Lumentum Holdings from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. MKM Partners boosted their price target on shares of Lumentum Holdings to $71.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Jefferies Group LLC restated a “buy” rating and issued a $75.00 price target on shares of Lumentum Holdings in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.06.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share for the quarter, topping the 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 company had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. Lumentum Holdings’s quarterly revenue was down 7.9% on a year-over-year basis.

ILLEGAL ACTIVITY WARNING: This piece was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of international copyright law. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/11/02/barclays-plc-raises-lumentum-holdings-inc-lite-price-target-to-65-00.html.

In other news, Director Penny Herscher sold 1,313 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were 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 $1,403,650.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vincent Retort sold 14,875 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $51.59, for a total transaction of $767,401.25. Following the sale, the chief operating officer now directly owns 92,694 shares of the company’s stock, valued at $4,782,083.46. The disclosure for this sale can be found here. Insiders have sold 87,269 shares of company stock valued at $4,602,526 over the last three months. Insiders own 0.76% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LITE. Riverhead Capital Management LLC boosted its stake in shares of Lumentum Holdings by 71.8% during the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock valued at $118,000 after purchasing an additional 862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lumentum Holdings by 111.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after purchasing an additional 1,406 shares during the period. Creative Planning boosted its stake in shares of Lumentum Holdings by 54.2% during the second quarter. Creative Planning now owns 3,039 shares of the technology company’s stock valued at $173,000 after purchasing an additional 1,068 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the period. Finally, World Asset Management Inc purchased a new stake in shares of Lumentum Holdings during the second quarter valued at $211,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

About Lumentum Holdings

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)

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.