Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been assigned an average recommendation of “Buy” from the twenty-two research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and fifteen have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $102.11.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Lumentum from a “hold” rating to a “sell” rating in a report on Tuesday, October 13th. MKM Partners lifted their target price on Lumentum from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price (up from $105.00) on shares of Lumentum in a report on Tuesday, August 11th. Stifel Nicolaus lowered their target price on Lumentum from $105.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday, September 1st. Finally, DA Davidson upgraded Lumentum to a “buy” rating and boosted their price objective for the company from $100.00 to $110.00 in a report on Wednesday, August 12th.

In other Lumentum news, CEO Alan S. Lowe sold 7,425 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $88.78, for a total value of $659,191.50. Following the transaction, the chief executive officer now owns 121,077 shares of the company’s stock, valued at $10,749,216.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Alan S. Lowe sold 2,719 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $85.77, for a total value of $233,208.63. Following the completion of the transaction, the chief executive officer now directly owns 121,077 shares in the company, valued at approximately $10,384,774.29. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,037 shares of company stock worth $6,866,739. 0.32% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. boosted its position in Lumentum by 4.3% in the second quarter. Baird Financial Group Inc. now owns 3,131 shares of the technology company’s stock worth $248,000 after purchasing an additional 128 shares during the last quarter. Global Retirement Partners LLC boosted its position in Lumentum by 35.9% in the second quarter. Global Retirement Partners LLC now owns 643 shares of the technology company’s stock worth $52,000 after purchasing an additional 170 shares during the last quarter. Signaturefd LLC boosted its position in Lumentum by 167.8% in the second quarter. Signaturefd LLC now owns 308 shares of the technology company’s stock worth $25,000 after purchasing an additional 193 shares during the last quarter. Jacobi Capital Management LLC boosted its position in Lumentum by 146.9% in the second quarter. Jacobi Capital Management LLC now owns 353 shares of the technology company’s stock worth $29,000 after purchasing an additional 210 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Lumentum by 1.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 11,279 shares of the technology company’s stock worth $831,000 after purchasing an additional 215 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lumentum stock traded down $2.58 during midday trading on Friday, reaching $81.45. The company had a trading volume of 16,995 shares, compared to its average volume of 1,499,499. The stock has a fifty day moving average price of $77.08 and a 200 day moving average price of $79.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.24 and a quick ratio of 6.58. The firm has a market cap of $6.34 billion, a PE ratio of 48.29 and a beta of 0.93. Lumentum has a fifty-two week low of $54.53 and a fifty-two week high of $96.74.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, August 11th. The technology company reported $1.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.35. The business had revenue of $368.10 million during the quarter, compared to the consensus estimate of $349.73 million. Lumentum had a return on equity of 20.77% and a net margin of 8.07%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. As a group, sell-side analysts forecast that Lumentum will post 4.82 EPS for the current year.

About Lumentum

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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