Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Lumentum Holdings Inc. (NASDAQ:LITE) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $88.07.

A number of research analysts have recently commented on LITE shares. Raymond James lifted their price objective on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Needham & Company LLC reissued a “buy” rating and set a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. Stifel Nicolaus raised their price objective on Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Barclays upgraded shares of Lumentum from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $125.00 in a research report on Friday, January 17th. Finally, UBS Group increased their price objective on shares of Lumentum from $93.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th.

Lumentum Price Performance

Shares of LITE stock opened at $80.18 on Friday. Lumentum has a 12-month low of $38.28 and a 12-month high of $104.00. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -10.43 and a beta of 0.94. The firm has a fifty day moving average of $86.12 and a 200-day moving average of $73.19.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. On average, equities research analysts forecast that Lumentum will post -0.04 earnings per share for the current year.

Insider Activity

In other Lumentum news, Director Julia Suzanne Johnson sold 2,058 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $85.82, for a total transaction of $176,617.56. Following the completion of the sale, the director now directly owns 23,287 shares of the company’s stock, valued at approximately $1,998,490.34. The trade was a 8.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Wajid Ali sold 29,887 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the transaction, the chief financial officer now owns 56,492 shares in the company, valued at $4,805,209.52. This represents a 34.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,655 shares of company stock worth $6,452,685. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Institutional investors and hedge funds have recently bought and sold shares of the stock. J.Safra Asset Management Corp grew its stake in shares of Lumentum by 31.1% in the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after acquiring an additional 122 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after buying an additional 130 shares during the last quarter. Signaturefd LLC lifted its position in shares of Lumentum by 13.8% during the 3rd quarter. Signaturefd LLC now owns 1,302 shares of the technology company’s stock worth $83,000 after buying an additional 158 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Lumentum by 27.2% in the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock worth $64,000 after buying an additional 164 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Lumentum by 4.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 4,350 shares of the technology company’s stock valued at $365,000 after acquiring an additional 168 shares in the last quarter. 94.05% of the stock is 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.