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

Lumentum Holdings Inc. (NASDAQ:LITE) has earned an average rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $88.33.

Several equities analysts have weighed in on the company. BNP Paribas upgraded Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research note on Tuesday, March 11th. UBS Group upped their price objective on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Morgan Stanley cut their target price on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Raymond James raised their price target on Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Northland Securities boosted their price objective on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, February 7th.

Insiders Place Their Bets

In other news, CFO Wajid Ali sold 2,172 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in LITE. Quarry LP boosted its stake in shares of Lumentum by 85.5% during the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. UMB Bank n.a. boosted 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 worth $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 fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after acquiring an additional 130 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Lumentum during the 3rd quarter valued at about $33,000. Finally, CoreCap Advisors LLC grew its holdings in shares of Lumentum by 2,235.3% during the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock valued at $33,000 after buying an additional 380 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 7.4 %

LITE opened at $68.31 on Tuesday. The company has a fifty day moving average price of $78.81 and a two-hundred day moving average price of $75.46. Lumentum has a 1-year low of $38.29 and a 1-year high of $104.00. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The company has a market cap of $4.73 billion, a P/E ratio of -8.88 and a beta of 1.03.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Analysts predict that Lumentum will post 0.03 EPS for the current fiscal year.

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.