Lumentum (NASDAQ:LITE) had its price target hoisted by research analysts at Loop Capital from $70.00 to $76.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the technology company’s stock. Loop Capital’s price target suggests a potential upside of 33.57% from the stock’s current price.

Several other equities research analysts have also commented on the stock. DA Davidson upped their price target on shares of Lumentum to $101.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Piper Jaffray Companies upped their price target on shares of Lumentum from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Craig Hallum reaffirmed a “buy” rating and set a $90.00 price target (up previously from $85.00) on shares of Lumentum in a research report on Tuesday, February 6th. BidaskClub raised shares of Lumentum from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, B. Riley reissued a “buy” rating and issued a $85.00 target price (up from $81.00) on shares of Lumentum in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Lumentum has an average rating of “Buy” and a consensus target price of $72.31.

Shares of Lumentum (NASDAQ:LITE) opened at $56.90 on Wednesday. Lumentum has a 52-week low of $40.35 and a 52-week high of $68.63. The company has a market cap of $3,569.28, a PE ratio of 38.97, a PEG ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The firm had revenue of $404.60 million during the quarter, compared to analyst estimates of $357.03 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 52.7% compared to the same quarter last year. sell-side analysts expect that Lumentum will post 2.85 earnings per share for the current fiscal year.

In other Lumentum news, CEO Alan S. Lowe sold 5,548 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $58.53, for a total value of $324,724.44. Following the completion of the transaction, the chief executive officer now directly owns 231,763 shares in the company, valued at approximately $13,565,088.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Penny Herscher sold 822 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the transaction, the director now owns 34,793 shares of the company’s stock, valued at $1,760,873.73. The disclosure for this sale can be found here. Insiders sold a total of 16,643 shares of company stock valued at $950,504 over the last 90 days. 0.76% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Stifel Financial Corp boosted its stake in Lumentum by 6.6% in the 2nd quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after purchasing an additional 447 shares during the period. OppenheimerFunds Inc. boosted its stake in Lumentum by 7.7% in the 4th quarter. OppenheimerFunds Inc. now owns 13,675 shares of the technology company’s stock worth $669,000 after purchasing an additional 974 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Lumentum by 22.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,352 shares of the technology company’s stock worth $305,000 after purchasing an additional 988 shares during the period. Virginia Retirement Systems ET AL boosted its stake in Lumentum by 22.9% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 5,900 shares of the technology company’s stock worth $321,000 after purchasing an additional 1,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Lumentum by 42.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after purchasing an additional 1,135 shares during the period.

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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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