News coverage about Lumentum Holdings (NASDAQ:LITE) has trended positive on Thursday, Alpha One Sentiment reports. The research firm, a subsidiary of Accern, rates the sentiment of news coverage by reviewing more than 20 million news and blog sources. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Lumentum Holdings earned a coverage optimism score of 0.25 on Alpha One’s scale. Alpha One also gave news headlines about the technology company an impact score of 0 out of 100, indicating that recent news coverage is extremely unlikely to have an impact on the stock’s share price in the next several days.
These are some of the headlines that may have effected AlphaOne Sentiment Analysis’s scoring:
- Zacks Investment Research Downgrades Lumentum Holdings Inc (LITE) to Hold (americanbankingnews.com)
- Lumentum Sell-Off… Should You Buy? – Seeking Alpha (seekingalpha.com)
- Lumentum Holdings (LITE) Receives Daily Media Sentiment Score of 0.31 (americanbankingnews.com)
- Lumentum Holdings Inc (LITE) Downgraded to Hold at Zacks Investment Research (americanbankingnews.com)
A number of analysts have recently weighed in on LITE shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $56.00 price target on shares of Lumentum Holdings in a research note on Thursday, March 16th. Goldman Sachs Group Inc raised shares of Lumentum Holdings from a “sell” rating to a “neutral” rating and upped their price target for the stock from $38.00 to $45.00 in a research note on Thursday, March 16th. Stifel Nicolaus upped their price target on shares of Lumentum Holdings from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, March 22nd. B. Riley reaffirmed a “buy” rating and issued a $53.50 price target on shares of Lumentum Holdings in a research note on Wednesday, February 8th. Finally, Zacks Investment Research raised shares of Lumentum Holdings from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $47.54.
Lumentum Holdings (NASDAQ:LITE) traded up 2.21% during mid-day trading on Thursday, reaching $43.90. 1,309,990 shares of the company traded hands. Lumentum Holdings has a one year low of $20.80 and a one year high of $55.92. The firm has a market cap of $2.66 billion, a PE ratio of 184.45 and a beta of 0.73. The stock’s 50-day moving average price is $48.12 and its 200-day moving average price is $42.37.
Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 7th. The technology company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.06. Lumentum Holdings had a net margin of 1.50% and a return on equity of 17.24%. The firm had revenue of $265 million for the quarter, compared to analyst estimates of $265.66 million. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. Analysts forecast that Lumentum Holdings will post $2.12 earnings per share for the current fiscal year.
In other Lumentum Holdings news, General Counsel Judy G. Hamel sold 1,814 shares of Lumentum Holdings stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $48.75, for a total value of $88,432.50. Following the transaction, the general counsel now owns 18,682 shares of the company’s stock, valued at $910,747.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harold L. Covert sold 12,000 shares of Lumentum Holdings stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $47.09, for a total transaction of $565,080.00. Following the completion of the transaction, the director now directly owns 15,953 shares in the company, valued at approximately $751,226.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,999 shares of company stock worth $1,859,770. Insiders own 0.76% of the company’s stock.
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Lumentum Holdings Company Profile
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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