Lumentum Holdings’ (LITE) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Lumentum Holdings Inc (NASDAQ:LITE) in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have a $75.00 price target on the technology company’s stock.
Other equities analysts have also recently issued research reports about the stock. UBS Group AG (USA) lifted their target price on shares of Lumentum Holdings from $66.00 to $70.00 in a research report on Wednesday, August 9th. Stifel Nicolaus reiterated a buy rating and set a $73.00 price target on shares of Lumentum Holdings in a report on Saturday, July 22nd. B. Riley reiterated a buy rating and set a $81.00 price target on shares of Lumentum Holdings in a report on Tuesday, August 8th. Rosenblatt Securities set a $70.00 price target on shares of Lumentum Holdings and gave the stock a buy rating in a report on Wednesday, August 9th. Finally, Craig Hallum reiterated a buy rating and set a $75.00 price target on shares of Lumentum Holdings in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lumentum Holdings presently has an average rating of Buy and a consensus target price of $68.06.
Lumentum Holdings (LITE) opened at $59.30 on Wednesday. The stock has a market cap of $3.67 billion and a PE ratio of 41.15. The company has a current ratio of 5.21, a quick ratio of 4.26 and a debt-to-equity ratio of 0.50. Lumentum Holdings has a 52-week low of $34.15 and a 52-week high of $68.63.
Lumentum Holdings (NASDAQ:LITE) last announced its earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.18. The company had revenue of $222.70 million during the quarter, compared to analysts’ expectations of $229.45 million. Lumentum Holdings had a negative net margin of 9.32% and a positive return on equity of 15.99%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. equities analysts expect that Lumentum Holdings will post 2.59 EPS for the current year.
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In related news, COO Vincent Retort sold 30,706 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total value of $1,672,248.76. Following the sale, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at $6,032,534.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan S. Lowe sold 4,364 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total transaction of $238,230.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,269 shares of company stock worth $4,602,526. Corporate insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Suntrust Banks Inc. raised its holdings in Lumentum Holdings by 0.4% in the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after acquiring an additional 37 shares in the last quarter. LS Investment Advisors LLC increased its stake in Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the last quarter. Arizona State Retirement System increased its stake in Lumentum Holdings by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp increased its stake in Lumentum Holdings by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after purchasing an additional 447 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in Lumentum Holdings by 1.2% during the second quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock valued at $2,318,000 after purchasing an additional 468 shares during the last quarter. 95.74% of the stock is currently owned by hedge funds and other institutional investors.
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).
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