Lumentum (NASDAQ:LITE) had its target price upped by Raymond James from $75.00 to $78.00 in a research note released on Thursday. Raymond James currently has a strong-buy rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Craig Hallum set a $65.00 price target on Lumentum and gave the stock a buy rating in a research note on Monday, December 17th. Zacks Investment Research downgraded Lumentum from a buy rating to a hold rating in a research note on Friday, November 16th. Piper Jaffray Companies dropped their price target on Lumentum from $72.00 to $63.00 and set an overweight rating on the stock in a research note on Monday, December 10th. Barclays restated a buy rating and set a $52.00 price target on shares of Lumentum in a research note on Friday, January 18th. Finally, BidaskClub downgraded Lumentum from a strong-buy rating to a buy rating in a research note on Friday, February 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Lumentum currently has an average rating of Buy and a consensus price target of $67.79.

NASDAQ:LITE opened at $53.50 on Thursday. The company has a market cap of $4.07 billion, a P/E ratio of 16.51, a PEG ratio of 0.93 and a beta of 0.64. The company has a current ratio of 4.17, a quick ratio of 3.24 and a debt-to-equity ratio of 0.53. Lumentum has a 52-week low of $37.00 and a 52-week high of $71.50.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 5th. The technology company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $373.70 million for the quarter, compared to the consensus estimate of $365.08 million. Lumentum had a return on equity of 20.24% and a net margin of 7.50%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. On average, research analysts expect that Lumentum will post 3.37 EPS for the current fiscal year.

In other Lumentum news, EVP Jason Reinhardt sold 9,575 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $50.38, for a total transaction of $482,388.50. Following the completion of the sale, the executive vice president now directly owns 63,877 shares of the company’s stock, valued at approximately $3,218,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin A. Kaplan sold 3,025 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $48.72, for a total value of $147,378.00. Following the sale, the director now directly owns 18,902 shares of the company’s stock, valued at $920,905.44. The disclosure for this sale can be found here. Insiders have sold a total of 15,617 shares of company stock valued at $768,579 over the last ninety days. 0.55% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Lumentum by 4,834.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after buying an additional 1,206,194 shares during the period. Norges Bank acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $34,669,000. Westfield Capital Management Co. LP acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $20,503,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Lumentum by 128.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 570,000 shares of the technology company’s stock valued at $23,946,000 after buying an additional 320,000 shares during the period. Finally, State of Tennessee Treasury Department lifted its holdings in shares of Lumentum by 547.1% in the 4th quarter. State of Tennessee Treasury Department now owns 323,554 shares of the technology company’s stock valued at $13,593,000 after buying an additional 273,554 shares during the period. 85.36% of the stock is owned by institutional investors.

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 through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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