Shares of Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) have been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $59.08.
A number of equities research analysts have weighed in on the stock. Bank of America lifted 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. Northland Securities lifted their price target on shares of Lumentum from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Friday, August 16th. Needham & Company LLC lifted their price target on shares of Lumentum from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded shares of Lumentum to a “sell” rating in a research report on Monday, May 6th.
Get Our Latest Stock Report on Lumentum
Lumentum Price Performance
Lumentum (NASDAQ:LITE – Get Free Report) last issued its earnings results on Wednesday, August 14th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Lumentum had a negative net margin of 24.91% and a negative return on equity of 1.72%. The company had revenue of $308.30 million for the quarter, compared to the consensus estimate of $301.36 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Lumentum’s quarterly revenue was down 16.9% compared to the same quarter last year. Analysts predict that Lumentum will post -0.64 earnings per share for the current year.
Institutional Trading of Lumentum
Institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in Lumentum during the 2nd quarter worth $36,000. Principal Securities Inc. acquired a new stake in Lumentum during the 4th quarter worth $55,000. CENTRAL TRUST Co boosted its stake in Lumentum by 714.3% during the 1st quarter. CENTRAL TRUST Co now owns 1,140 shares of the technology company’s stock worth $54,000 after purchasing an additional 1,000 shares during the period. Signaturefd LLC boosted its stake in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock worth $58,000 after purchasing an additional 554 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Lumentum during the 1st quarter worth $112,000. Hedge funds and other 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.
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