Shares of Lumentum Holdings Inc (NASDAQ:LITE) have received an average recommendation of “Buy” from the twenty-two research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, sixteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $68.06.

A number of brokerages have recently weighed in on LITE. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of Lumentum in a report on Friday, March 29th. Northland Securities reissued a “buy” rating and issued a $70.00 price objective on shares of Lumentum in a report on Monday, April 22nd. DA Davidson reissued a “buy” rating and issued a $90.00 price objective on shares of Lumentum in a report on Monday, May 6th. Rosenblatt Securities reissued a “buy” rating and issued a $80.00 price objective on shares of Lumentum in a report on Tuesday, May 7th. Finally, Piper Jaffray Companies increased their price objective on Lumentum to $75.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th.

Shares of LITE stock opened at $46.48 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.20 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $3.54 billion, a PE ratio of 14.35, a PEG ratio of 0.90 and a beta of 0.68. Lumentum has a fifty-two week low of $37.00 and a fifty-two week high of $69.95.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $433.00 million for the quarter, compared to analyst estimates of $428.33 million. Lumentum had a return on equity of 19.94% and a net margin of 1.57%. The company’s revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. Research analysts anticipate that Lumentum will post 3.3 EPS for the current year.

In other news, SVP Judy G. Hamel sold 1,429 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $58.64, for a total value of $83,796.56. Following the sale, the senior vice president now owns 44,793 shares in the company, valued at $2,626,661.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason Reinhardt sold 9,575 shares of the company’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $50.38, for a total value of $482,388.50. Following the completion of the sale, the executive vice president now owns 63,877 shares in the company, valued at approximately $3,218,123.26. The disclosure for this sale can be found here. Insiders sold 14,029 shares of company stock worth $713,563 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in Lumentum during the fourth quarter worth approximately $25,000. Sapphire Star Partners LP purchased a new position in Lumentum during the fourth quarter worth approximately $28,000. Rockefeller Capital Management L.P. boosted its position in Lumentum by 159.1% during the first quarter. Rockefeller Capital Management L.P. now owns 482 shares of the technology company’s stock worth $28,000 after purchasing an additional 296 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Lumentum by 4,834.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,206,194 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Lumentum by 121.7% in the fourth quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock valued at $39,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 88.02% of the company’s stock.

About Lumentum

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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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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