Lumentum (NASDAQ:LITE) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.

Other equities research analysts have also recently issued reports about the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $68.00 target price on shares of Lumentum in a research note on Thursday, September 14th. MKM Partners increased their target price on Lumentum to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Northland Securities raised Lumentum from a “market perform” rating to an “outperform” rating and set a $58.00 target price on the stock in a research note on Monday. They noted that the move was a valuation call. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price objective on shares of Lumentum in a research report on Thursday, September 21st. Finally, DA Davidson increased their price objective on Lumentum from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $68.25.

Lumentum (LITE) traded down $1.48 during midday trading on Tuesday, hitting $50.27. The stock had a trading volume of 12,293,800 shares, compared to its average volume of 1,888,035. Lumentum has a 52-week low of $34.15 and a 52-week high of $68.63. The stock has a market capitalization of $3,110.00 and a PE ratio of 36.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21.

In other Lumentum news, CEO Alan S. Lowe sold 4,364 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $54.59, for a total value of $238,230.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Vincent Retort sold 30,706 shares of the firm’s 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 transaction, the chief operating officer now directly owns 110,770 shares in the company, valued at $6,032,534.20. The disclosure for this sale can be found here. Insiders have sold 66,713 shares of company stock worth $3,717,034 over the last ninety days. 0.76% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in LITE. Aperio Group LLC boosted its position in Lumentum by 39.8% in the second quarter. Aperio Group LLC now owns 17,109 shares of the technology company’s stock worth $976,000 after purchasing an additional 4,873 shares during the last quarter. Strs Ohio boosted its position in Lumentum by 87.2% in the second quarter. Strs Ohio now owns 8,800 shares of the technology company’s stock worth $502,000 after purchasing an additional 4,100 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Lumentum by 5.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 13,150 shares of the technology company’s stock worth $750,000 after purchasing an additional 650 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Lumentum by 7.4% in the second quarter. Great West Life Assurance Co. Can now owns 81,726 shares of the technology company’s stock worth $4,658,000 after purchasing an additional 5,625 shares during the last quarter. Finally, World Asset Management Inc purchased a new position in Lumentum in the second quarter worth about $211,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.

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Lumentum 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 (NASDAQ:LITE)

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