Recent Investment Analysts’ Ratings Updates for Lumentum (LITE)

Lumentum (NASDAQ: LITE) has recently received a number of price target changes and ratings updates:

• 11/14/2024 – Lumentum had its price target raised by analysts at Morgan Stanley from $61.00 to $76.00. They now have an “equal weight” rating on the stock.
• 11/11/2024 – Lumentum had its price target raised by analysts at Barclays PLC from $40.00 to $80.00. They now have an “underweight” rating on the stock.
• 11/8/2024 – Lumentum had its price target raised by analysts at Susquehanna from $80.00 to $115.00. They now have a “positive” rating on the stock.
• 11/8/2024 – Lumentum had its price target raised by analysts at Raymond James from $70.00 to $100.00. They now have an “outperform” rating on the stock.
• 11/8/2024 – Lumentum had its price target raised by analysts at Northland Securities from $45.00 to $60.00. They now have a “market perform” rating on the stock.
• 11/8/2024 – Lumentum had its price target raised by analysts at Rosenblatt Securities from $69.00 to $110.00. They now have a “buy” rating on the stock.
• 10/21/2024 – Lumentum had its price target raised by analysts at Susquehanna from $70.00 to $80.00. They now have a “positive” rating on the stock.
• 10/4/2024 – Lumentum had its price target raised by analysts at Raymond James from $55.00 to $70.00. They now have an “outperform” rating on the stock.

Lumentum Price Performance

Lumentum stock opened at $86.98 on Wednesday. Lumentum Holdings Inc. has a one year low of $38.28 and a one year high of $91.21. The business has a fifty day moving average price of $70.04 and a 200-day moving average price of $57.30. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The firm has a market capitalization of $5.98 billion, a P/E ratio of -10.50 and a beta of 0.88.

Insider Buying and Selling

In related news, Director Penny Herscher sold 1,625 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $81.09, for a total value of $131,771.25. Following the sale, the director now owns 6,852 shares in the company, valued at approximately $555,628.68. This trade represents a 19.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vincent Retort sold 41,710 shares of the 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 sale, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,910 shares of company stock worth $6,339,239. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Synovus Financial Corp increased its holdings in shares of Lumentum by 1.5% in the third quarter. Synovus Financial Corp now owns 13,225 shares of the technology company’s stock worth $838,000 after buying an additional 200 shares during the period. Tidal Investments LLC grew its stake in shares of Lumentum by 35.6% in the third quarter. Tidal Investments LLC now owns 18,669 shares of the technology company’s stock worth $1,183,000 after purchasing an additional 4,899 shares during the last quarter. Geode Capital Management LLC boosted its position in Lumentum by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock valued at $75,198,000 after acquiring an additional 15,799 shares in the last quarter. M&T Bank Corp boosted its position in Lumentum by 69.1% during the 3rd quarter. M&T Bank Corp now owns 11,743 shares of the technology company’s stock valued at $745,000 after acquiring an additional 4,798 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in Lumentum by 67.5% in the third 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.

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.