Lumentum Holdings Inc. (NASDAQ:LITE) had its price objective lifted by stock analysts at MKM Partners to $71.00 in a note issued to investors on Thursday. The brokerage currently has a “neutral” rating on the technology company’s stock. MKM Partners’ target price would suggest a potential upside of 12.43% from the company’s current price.

LITE has been the subject of several other reports. Rosenblatt Securities set a $75.00 price objective on shares of Lumentum Holdings and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Barclays PLC reaffirmed a “hold” rating on shares of Lumentum Holdings in a research note on Friday, July 14th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research note on Thursday, September 14th. BidaskClub lowered shares of Lumentum Holdings from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $75.00 target price on shares of Lumentum Holdings in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Lumentum Holdings has a consensus rating of “Buy” and an average price target of $67.69.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.21 by $0.18. The company had revenue of $222.70 million during the quarter, compared to analyst estimates of $229.45 million. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. Lumentum Holdings’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share.

TRADEMARK VIOLATION WARNING: “Lumentum Holdings Inc. (LITE) PT Raised to $71.00” was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/11/02/lumentum-holdings-inc-lite-pt-raised-to-71-00.html.

In related news, COO Vincent Retort sold 30,706 shares of Lumentum Holdings stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $54.46, for a total value of $1,672,248.76. Following the completion of the sale, the chief operating officer now directly owns 110,770 shares in the company, valued at $6,032,534.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Penny Herscher sold 1,313 shares of Lumentum Holdings stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total value of $69,641.52. Following the completion of the sale, the director now owns 26,464 shares of the company’s stock, valued at $1,403,650.56. The disclosure for this sale can be found here. Insiders sold 87,269 shares of company stock valued at $4,602,526 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in LITE. Jennison Associates bought a new position in Lumentum Holdings in the third quarter worth about $13,349,000. Gierl Augustine Investment Management bought a new position in Lumentum Holdings in the fourth quarter worth about $0. Pinnacle Associates Ltd. bought a new position in Lumentum Holdings in the fourth quarter worth about $19,312,000. Principal Financial Group Inc. bought a new position in Lumentum Holdings in the fourth quarter worth about $6,838,000. Finally, Marshall Wace LLP bought a new position in Lumentum Holdings in the fourth quarter worth about $7,126,000. Institutional investors and hedge funds 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)

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.