Lumentum (NASDAQ:LITE) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. DA Davidson upped their target price on shares of Lumentum from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. MKM Partners upped their target price on shares of Lumentum to $71.00 and gave the company a “neutral” rating in a research report on Thursday, November 2nd. Rosenblatt Securities set a $75.00 target price on shares of Lumentum and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, B. Riley reiterated a “buy” rating and set a $89.00 target price on shares of Lumentum in a research report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Lumentum has an average rating of “Buy” and an average target price of $69.69.

Lumentum (NASDAQ LITE) opened at $48.85 on Friday. Lumentum has a 1-year low of $34.15 and a 1-year high of $68.63. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $3,028.70, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 0.87 and a beta of 0.84.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.09). Lumentum had a positive return on equity of 15.99% and a negative net margin of 9.32%. equities analysts expect that Lumentum will post 2.86 earnings per share for the current year.

In related news, Director Penny Herscher sold 822 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the sale, the director now owns 34,793 shares in the company, valued at approximately $1,760,873.73. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin A. Kaplan sold 15,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $57.07, for a total transaction of $856,050.00. Following the completion of the sale, the director now owns 29,573 shares of the company’s stock, valued at approximately $1,687,731.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,643 shares of company stock valued at $1,806,554. 0.76% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LITE. Whale Rock Capital Management LLC increased its position in shares of Lumentum by 86.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock valued at $86,436,000 after buying an additional 735,239 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of Lumentum by 676.1% in the 3rd quarter. Artemis Investment Management LLP now owns 672,022 shares of the technology company’s stock valued at $36,541,000 after buying an additional 585,432 shares in the last quarter. BlackRock Inc. increased its position in shares of Lumentum by 7.0% in the 2nd quarter. BlackRock Inc. now owns 6,889,157 shares of the technology company’s stock valued at $393,025,000 after buying an additional 448,077 shares in the last quarter. Cramer Rosenthal Mcglynn LLC increased its position in shares of Lumentum by 51.5% in the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,139,914 shares of the technology company’s stock valued at $61,954,000 after buying an additional 387,290 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Lumentum by 98.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 762,469 shares of the technology company’s stock valued at $41,441,000 after buying an additional 378,255 shares in the last quarter.

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Lumentum 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).

Analyst Recommendations for Lumentum (NASDAQ:LITE)

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