Lumentum Holdings Inc. (LITE) Given “Hold” Rating at Barclays PLC

Barclays PLC restated their hold rating on shares of Lumentum Holdings Inc. (NASDAQ:LITE) in a report issued on Friday morning.

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.

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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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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