Shares of Lumentum Holdings Inc (NASDAQ:LITE) have earned a consensus recommendation of “Buy” from the twenty-two analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, fourteen have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $67.29.
Several research firms recently commented on LITE. Zacks Investment Research downgraded shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Friday, November 16th. BidaskClub raised shares of Lumentum from a “buy” rating to a “strong-buy” rating in a research note on Friday. ValuEngine downgraded shares of Lumentum from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. Northland Securities reissued an “outperform” rating and set a $60.00 target price on shares of Lumentum in a research report on Tuesday, November 13th. Finally, UBS Group cut their target price on shares of Lumentum from $80.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th.
Lumentum stock opened at $45.73 on Friday. The stock has a market capitalization of $2.84 billion, a PE ratio of 14.11, a PEG ratio of 0.72 and a beta of 0.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.52 and a quick ratio of 4.88. Lumentum has a 12-month low of $37.00 and a 12-month high of $74.40.
Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, November 1st. The technology company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.29. The firm had revenue of $354.00 million during the quarter, compared to analyst estimates of $351.21 million. Lumentum had a net margin of 21.21% and a return on equity of 28.74%. The business’s revenue was up 45.7% on a year-over-year basis. During the same quarter last year, the business earned $0.43 EPS. Research analysts forecast that Lumentum will post 3.67 EPS for the current year.
In other news, Director Penny Herscher sold 1,197 shares of Lumentum stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $52.93, for a total value of $63,357.21. Following the transaction, the director now owns 34,743 shares of the company’s stock, valued at approximately $1,838,946.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of LITE. DekaBank Deutsche Girozentrale grew its position in shares of Lumentum by 149.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,497 shares of the technology company’s stock worth $102,000 after buying an additional 897 shares during the last quarter. CIBC World Markets Inc. acquired a new stake in Lumentum in the 3rd quarter worth approximately $237,000. Worth Venture Partners LLC acquired a new stake in Lumentum in the 3rd quarter worth approximately $300,000. Janus Henderson Group PLC acquired a new stake in Lumentum in the 3rd quarter worth approximately $311,000. Finally, Renaissance Technologies LLC acquired a new stake in Lumentum in the 2nd quarter worth approximately $318,000.
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.
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