Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Recommendation of “Buy” by Analysts

Lumentum Holdings Inc. (NASDAQ:LITE) has received an average recommendation of “Buy” from the twenty analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $113.22.

Several brokerages recently weighed in on LITE. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $120.00 price target on shares of Lumentum in a research report on Friday, February 19th. Needham & Company LLC raised their price target on shares of Lumentum from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, March 31st. The Goldman Sachs Group raised shares of Lumentum from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $117.00 in a research report on Wednesday, January 20th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $97.00 price target (down previously from $105.00) on shares of Lumentum in a research report on Wednesday, March 24th. Finally, Barclays raised their price target on shares of Lumentum from $90.00 to $105.00 in a research report on Wednesday, January 20th.

NASDAQ LITE opened at $93.04 on Friday. The company has a market cap of $7.04 billion, a P/E ratio of 46.75 and a beta of 1.05. The company has a fifty day simple moving average of $88.85 and a 200 day simple moving average of $89.62. The company has a current ratio of 7.38, a quick ratio of 6.66 and a debt-to-equity ratio of 0.62. Lumentum has a 12-month low of $66.33 and a 12-month high of $112.08.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 2nd. The technology company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38. Lumentum had a net margin of 9.22% and a return on equity of 21.41%. The firm had revenue of $478.80 million during the quarter, compared to analysts’ expectations of $480.81 million. During the same period last year, the company earned $1.53 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts predict that Lumentum will post 5.24 EPS for the current year.

In other news, CFO Wajid Ali sold 6,480 shares of the company’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $93.35, for a total transaction of $604,908.00. Following the completion of the transaction, the chief financial officer now directly owns 86,091 shares of the company’s stock, valued at $8,036,594.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Alan S. Lowe sold 9,862 shares of the company’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $93.39, for a total transaction of $921,012.18. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its holdings in shares of Lumentum by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the technology company’s stock valued at $1,792,000 after buying an additional 100 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Lumentum by 25.2% during the first quarter. Global Retirement Partners LLC now owns 572 shares of the technology company’s stock valued at $52,000 after buying an additional 115 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Lumentum by 3.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 3,592 shares of the technology company’s stock valued at $270,000 after purchasing an additional 119 shares during the period. Circle Wealth Management LLC lifted its position in Lumentum by 5.5% during the fourth quarter. Circle Wealth Management LLC now owns 3,270 shares of the technology company’s stock valued at $310,000 after purchasing an additional 170 shares during the period. Finally, King Luther Capital Management Corp lifted its position in Lumentum by 1.7% during the fourth quarter. King Luther Capital Management Corp now owns 13,515 shares of the technology company’s stock valued at $1,281,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 89.81% 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 in 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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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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