Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $81.92.

LITE has been the topic of several analyst reports. Raymond James boosted their price objective on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and increased their target price for the company from $80.00 to $125.00 in a research note on Friday. Northland Securities upped their price target on shares of Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, November 8th. Rosenblatt Securities boosted their target price on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Susquehanna raised their price target on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th.

Lumentum Stock Up 5.7 %

NASDAQ LITE opened at $94.41 on Monday. The stock has a 50 day moving average price of $86.72 and a 200-day moving average price of $68.34. Lumentum has a one year low of $38.28 and a one year high of $96.25. The company has a market capitalization of $6.49 billion, a P/E ratio of -11.40 and a beta of 0.94. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Insider Buying and Selling at Lumentum

In other news, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the transaction, the insider now directly owns 147,515 shares of the company’s stock, valued at approximately $13,205,542.80. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total value of $715,867.20. Following the sale, the chief accounting officer now directly owns 21,138 shares in the company, valued at approximately $1,851,688.80. The trade was a 27.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,797 shares of company stock valued at $8,881,428. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Lumentum

Several institutional investors and hedge funds have recently bought and sold shares of LITE. Quarry LP grew its stake in Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares during the last quarter. UMB Bank n.a. raised its position in shares of Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after purchasing an additional 253 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Lumentum in the 3rd quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new stake in Lumentum during the 2nd quarter worth approximately $36,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock valued at $42,000 after purchasing an additional 270 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Lumentum

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.