Lumentum Holdings Inc. (NASDAQ:LITE) Receives $59.08 Consensus PT from Analysts

Lumentum Holdings Inc. (NASDAQ:LITE) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $59.08.

Several equities analysts have commented on LITE shares. Craig Hallum lifted their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. B. Riley lifted their price target on Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Needham & Company LLC upped their price objective on Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Rosenblatt Securities lifted their target price on Lumentum from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America increased their price target on shares of Lumentum from $45.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, August 15th.

Lumentum Stock Performance

Shares of Lumentum stock opened at $61.14 on Tuesday. Lumentum has a 52 week low of $35.35 and a 52 week high of $62.21. The company has a quick ratio of 4.43, a current ratio of 5.90 and a debt-to-equity ratio of 2.61. The business has a 50 day moving average price of $52.80 and a 200-day moving average price of $48.91. The company has a market cap of $4.13 billion, a PE ratio of -11.65, a price-to-earnings-growth ratio of 4.26 and a beta of 0.88.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Lumentum had a negative return on equity of 4.79% and a negative net margin of 40.21%. The business had revenue of $308.30 million for the quarter, compared to analysts’ expectations of $301.36 million. During the same period last year, the business earned $0.12 EPS. The business’s revenue was down 16.9% on a year-over-year basis. Equities analysts anticipate that Lumentum will post 0.22 earnings per share for the current fiscal year.

Institutional Trading of Lumentum

A number of large investors have recently modified their holdings of the business. Bridge City Capital LLC grew its position in Lumentum by 0.7% in the first quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company’s stock worth $1,544,000 after acquiring an additional 242 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Lumentum by 1.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,587 shares of the technology company’s stock worth $691,000 after purchasing an additional 260 shares in the last quarter. Mcdonald Partners LLC increased its position in shares of Lumentum by 1.6% during the 2nd quarter. Mcdonald Partners LLC now owns 19,830 shares of the technology company’s stock valued at $1,010,000 after purchasing an additional 318 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Lumentum by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 18,868 shares of the technology company’s stock valued at $961,000 after buying an additional 455 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Lumentum by 0.9% during the 1st quarter. Texas Permanent School Fund Corp now owns 58,259 shares of the technology company’s stock valued at $2,759,000 after buying an additional 496 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.