Lumentum Holdings Inc. (NASDAQ:LITE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $88.07.

LITE has been the subject of a number of research analyst reports. Northland Securities upped their price target on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Morgan Stanley lowered their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Barclays raised Lumentum from an “underweight” rating to an “overweight” rating and upped their price target for the company from $80.00 to $125.00 in a report on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lumentum in a report on Friday, February 7th. Finally, Susquehanna upped their price target on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th.

Lumentum Stock Performance

Shares of Lumentum stock opened at $78.13 on Friday. Lumentum has a one year low of $38.28 and a one year high of $104.00. The company has a market cap of $5.37 billion, a PE ratio of -10.16 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. The business has a 50-day simple moving average of $86.80 and a 200-day simple moving average of $72.24.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. On average, equities research analysts forecast that Lumentum will post -0.04 EPS for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, CFO Wajid Ali sold 29,887 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares in the company, valued at approximately $4,805,209.52. This represents a 34.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Penny Herscher sold 1,625 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $81.09, for a total value of $131,771.25. Following the completion of the transaction, the director now owns 6,852 shares of the company’s stock, valued at approximately $555,628.68. This represents a 19.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,625 shares of company stock worth $6,858,010 over the last 90 days. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Quarry LP boosted its stake in shares of Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after acquiring an additional 201 shares during the last quarter. UMB Bank n.a. boosted its stake in Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after buying an additional 253 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Lumentum in the 3rd quarter worth about $33,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Lumentum by 67.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after purchasing an additional 270 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.