Northland Securities reaffirmed their buy rating on shares of Lumentum (NASDAQ:LITE) in a research note released on Monday morning. The firm currently has a $95.00 price target on the technology company’s stock.

Other analysts have also issued reports about the stock. Barclays upgraded shares of Lumentum from an equal weight rating to an overweight rating and boosted their price target for the stock from $65.00 to $67.00 in a research note on Wednesday, January 10th. Loop Capital assumed coverage on shares of Lumentum in a research note on Monday, January 29th. They set a buy rating and a $65.00 price target on the stock. B. Riley reiterated a buy rating and set a $85.00 price target (up from $81.00) on shares of Lumentum in a research note on Wednesday, January 31st. BidaskClub upgraded shares of Lumentum from a sell rating to a hold rating in a research note on Wednesday, January 31st. Finally, UBS assumed coverage on shares of Lumentum in a research note on Wednesday, January 31st. They set a buy rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $79.56.

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Shares of Lumentum stock opened at $69.80 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84. The stock has a market cap of $4,321.62, a PE ratio of 47.81, a price-to-earnings-growth ratio of 1.31 and a beta of -0.09. Lumentum has a one year low of $40.35 and a one year high of $74.40.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.67. The company had revenue of $404.60 million for the quarter, compared to analyst estimates of $357.03 million. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. sell-side analysts anticipate that Lumentum will post 2.82 EPS for the current fiscal year.

In related news, COO Vincent Retort sold 12,111 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $71.00, for a total value of $859,881.00. Following the completion of the transaction, the chief operating officer now directly owns 77,318 shares of the company’s stock, valued at $5,489,578. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Judy G. Hamel sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $71.00, for a total value of $142,000.00. Following the completion of the transaction, the general counsel now directly owns 26,773 shares of the company’s stock, valued at $1,900,883. The disclosure for this sale can be found here. Insiders have sold 62,150 shares of company stock worth $3,800,816 over the last 90 days. Insiders own 0.76% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in LITE. SeaCrest Wealth Management LLC acquired a new position in Lumentum in the fourth quarter valued at approximately $128,000. Envestnet Asset Management Inc. boosted its holdings in Lumentum by 1,164.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,653 shares of the technology company’s stock valued at $178,000 after purchasing an additional 3,364 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lumentum by 42.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,135 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Lumentum by 106.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,864 shares of the technology company’s stock valued at $189,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Tyers Asset Management LLC boosted its holdings in Lumentum by 26.6% in the fourth quarter. Tyers Asset Management LLC now owns 4,720 shares of the technology company’s stock valued at $231,000 after purchasing an additional 992 shares in the last quarter.

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Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It 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.

Analyst Recommendations for Lumentum (NASDAQ:LITE)

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