Analysts Set Lumentum Holdings Inc. (NASDAQ:LITE) Target Price at $81.92

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $81.92.

Several brokerages recently issued reports on LITE. Raymond James upped their price target on Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Susquehanna upped their target price on shares of Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $110.00 price target on shares of Lumentum in a report on Thursday, January 9th. Northland Securities increased their price objective on shares of Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, November 8th. Finally, Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $125.00 in a research note on Friday, January 17th.

Insider Transactions at Lumentum

In other Lumentum news, Director Julia Suzanne Johnson sold 2,058 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $85.82, for a total value of $176,617.56. Following the sale, the director now directly owns 23,287 shares in the company, valued at $1,998,490.34. This represents a 8.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Wajid Ali sold 29,887 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $85.06, for a total transaction of $2,542,188.22. Following the completion of the transaction, the chief financial officer now directly owns 56,492 shares of the company’s stock, valued at approximately $4,805,209.52. The trade was a 34.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,797 shares of company stock valued at $8,881,428 over the last three months. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Lumentum

A number of institutional investors and hedge funds have recently made changes to their positions in LITE. Dimensional Fund Advisors LP increased its stake in Lumentum by 8.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock worth $86,760,000 after acquiring an additional 130,838 shares during the last quarter. Atreides Management LP grew its holdings in shares of Lumentum by 28.5% during the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after purchasing an additional 375,389 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lumentum by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,186,163 shares of the technology company’s stock worth $75,198,000 after purchasing an additional 15,799 shares during the last quarter. Divisar Capital Management LLC raised its stake in Lumentum by 5.8% in the second quarter. Divisar Capital Management LLC now owns 961,574 shares of the technology company’s stock valued at $48,963,000 after purchasing an additional 52,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Lumentum by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 738,155 shares of the technology company’s stock valued at $46,784,000 after purchasing an additional 37,109 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Down 3.7 %

Lumentum stock opened at $95.65 on Monday. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of -11.55 and a beta of 0.94. The firm’s fifty day moving average price is $87.91 and its two-hundred day moving average price is $69.62. Lumentum has a 1-year low of $38.28 and a 1-year high of $104.00. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.48). The business had revenue of $336.90 million during the quarter, compared to the consensus estimate of $326.94 million. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. During the same period in the previous year, the business posted ($0.10) EPS. On average, equities research analysts predict that Lumentum will post -0.02 earnings per share for the current fiscal year.

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.