Lumentum Holdings Inc (LITE) Receives Average Recommendation of “Buy” from Analysts
Shares of Lumentum Holdings Inc (NASDAQ:LITE) have earned an average recommendation of “Buy” from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $72.73.
LITE has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Rosenblatt Securities set a $75.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a report on Tuesday, October 24th. Jefferies Group reissued a “buy” rating and set a $75.00 price objective on shares of Lumentum in a report on Wednesday, November 1st. Craig Hallum reissued a “buy” rating and set a $85.00 price objective (up from $75.00) on shares of Lumentum in a report on Wednesday, November 1st. Finally, DA Davidson raised their price objective on shares of Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd.
In other news, Director Harold L. Covert sold 7,564 shares of Lumentum stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $56.58, for a total value of $427,971.12. Following the completion of the transaction, the director now directly owns 22,628 shares of the company’s stock, valued at approximately $1,280,292.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin A. Kaplan sold 3,000 shares of Lumentum stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $55.03, for a total transaction of $165,090.00. Following the completion of the transaction, the director now directly owns 26,573 shares of the company’s stock, valued at $1,462,312.19. The disclosure for this sale can be found here. Insiders sold a total of 20,694 shares of company stock valued at $1,163,543 over the last ninety days. Company insiders own 0.76% of the company’s stock.
Shares of Lumentum (NASDAQ:LITE) opened at $59.00 on Wednesday. Lumentum has a one year low of $40.35 and a one year high of $68.63. The stock has a market cap of $3,684.72, a price-to-earnings ratio of 40.41, a P/E/G ratio of 1.11 and a beta of 0.56. The company has a current ratio of 4.84, a quick ratio of 4.16 and a debt-to-equity ratio of 0.38.
Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $357.03 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 52.7% on a year-over-year basis. analysts expect that Lumentum will post 2.85 earnings per share for the current fiscal year.
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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).
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