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

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $88.07.

A number of research analysts have issued reports on LITE shares. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $80.00 to $125.00 in a research note on Friday, January 17th. UBS Group boosted their price target on Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Northland Securities raised 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. Needham & Company LLC restated a “buy” rating and set a $110.00 price objective on shares of Lumentum in a research note on Friday, February 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research report on Friday, February 7th.

Lumentum Stock Performance

Shares of LITE opened at $57.41 on Tuesday. Lumentum has a 52-week low of $38.29 and a 52-week high of $104.00. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -7.47 and a beta of 1.03. The business’s 50 day moving average is $81.64 and its two-hundred day moving average is $75.22.

Lumentum (NASDAQ:LITE) last posted 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 net margin of 36.98% and a negative return on equity of 7.25%. Analysts forecast that Lumentum will post 0.03 EPS for the current fiscal year.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares of the company’s stock, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP increased its stake in Lumentum by 85.5% in 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 period. UMB Bank n.a. boosted its holdings in Lumentum by 301.2% during the fourth 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 in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Lumentum in the 3rd quarter worth approximately $33,000. Finally, CoreCap Advisors LLC lifted its position in shares of Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock worth $33,000 after buying an additional 380 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.