A number of other equities research analysts also recently issued reports on the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Lumentum Holdings from a sell rating to a neutral rating and increased their target price for the stock from $38.00 to $45.00 in a research report on Thursday, March 16th. Zacks Investment Research downgraded shares of Lumentum Holdings from a strong-buy rating to a hold rating in a research report on Wednesday, April 12th. BidaskClub upgraded shares of Lumentum Holdings from a buy rating to a strong-buy rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a buy rating and issued a $62.00 target price on shares of Lumentum Holdings in a research report on Monday, May 15th. Finally, Raymond James Financial, Inc. reiterated a buy rating on shares of Lumentum Holdings in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $59.64.
Lumentum Holdings (LITE) traded down 3.84% during trading on Friday, hitting $61.35. The company had a trading volume of 1,502,535 shares. Lumentum Holdings has a 12 month low of $25.35 and a 12 month high of $67.30. The company’s 50 day moving average price is $59.03 and its 200-day moving average price is $47.94. The company’s market cap is $3.75 billion.
Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Thursday, May 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. Lumentum Holdings had a negative net margin of 3.28% and a positive return on equity of 19.55%. The company had revenue of $255.80 million during the quarter, compared to the consensus estimate of $257.22 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Lumentum Holdings will post $1.90 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Lumentum Holdings Inc. (LITE) Given “Hold” Rating at Barclays PLC” was first posted by Ticker Report and is owned by of Ticker Report. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.tickerreport.com/banking-finance/2724327/lumentum-holdings-inc-lite-given-hold-rating-at-barclays-plc.html.
In related news, CEO Alan S. Lowe sold 1,085 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $58.15, for a total value of $63,092.75. Following the transaction, the chief executive officer now directly owns 143,447 shares in the company, valued at approximately $8,341,443.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan S. Lowe sold 5,954 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $54.29, for a total transaction of $323,242.66. Following the completion of the transaction, the chief executive officer now owns 153,439 shares in the company, valued at $8,330,203.31. The disclosure for this sale can be found here. Insiders have sold a total of 11,813 shares of company stock worth $648,776 in the last 90 days. 0.76% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of LITE. BlackRock Inc. raised its position in Lumentum Holdings by 151,490.5% in the first quarter. BlackRock Inc. now owns 6,441,080 shares of the technology company’s stock worth $343,632,000 after buying an additional 6,436,831 shares during the last quarter. Vanguard Group Inc. raised its position in Lumentum Holdings by 10.4% in the first quarter. Vanguard Group Inc. now owns 5,208,003 shares of the technology company’s stock worth $277,848,000 after buying an additional 491,391 shares during the last quarter. Alliancebernstein L.P. raised its position in Lumentum Holdings by 2,347.2% in the first quarter. Alliancebernstein L.P. now owns 1,837,130 shares of the technology company’s stock worth $98,011,000 after buying an additional 1,762,060 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Lumentum Holdings by 24.9% in the first quarter. Pinnacle Associates Ltd. now owns 1,705,497 shares of the technology company’s stock worth $90,988,000 after buying an additional 339,732 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Lumentum Holdings by 17.8% in the first quarter. Bank of New York Mellon Corp now owns 1,555,165 shares of the technology company’s stock worth $82,968,000 after buying an additional 235,325 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.
About Lumentum Holdings
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).
Receive News & Ratings for Lumentum Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.