Lumentum Holdings Inc. (NASDAQ:LITE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $88.33.

Several equities research analysts have commented on the company. B. Riley boosted their target price on Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Raymond James upped their price target on shares of Lumentum from $94.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Northland Securities raised their price objective on shares of Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th. Finally, Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $125.00 in a report on Friday, January 17th.

Lumentum Stock Up 5.5 %

Shares of Lumentum stock opened at $63.61 on Tuesday. Lumentum has a 1 year low of $38.29 and a 1 year high of $104.00. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The company has a 50-day moving average of $79.26 and a 200 day moving average of $75.24. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -8.27 and a beta of 1.03.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. As a group, sell-side analysts anticipate that Lumentum will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of Lumentum stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the transaction, the chief financial officer now owns 51,976 shares in the company, valued at $4,071,799.84. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Several hedge funds and other institutional investors have recently modified their holdings of LITE. Capital World Investors grew its holdings in Lumentum by 108.3% during the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock valued at $302,231,000 after purchasing an additional 1,871,572 shares during the period. Alliancebernstein L.P. grew its stake in shares of Lumentum by 1.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company’s stock valued at $143,719,000 after acquiring an additional 23,136 shares during the period. Atreides Management LP increased its holdings in Lumentum by 28.5% in the 3rd quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after acquiring an additional 375,389 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company’s stock worth $103,122,000 after acquiring an additional 610,938 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Lumentum by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company’s stock valued at $100,402,000 after purchasing an additional 9,442 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other 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 (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.