Rosenblatt Securities set a $80.00 target price on Lumentum (NASDAQ:LITE) in a research report released on Thursday morning. The brokerage currently has a buy rating on the technology company’s stock.
LITE has been the subject of a number of other research reports. ValuEngine upgraded shares of Lumentum from a sell rating to a hold rating in a report on Thursday, November 8th. JPMorgan Chase & Co. downgraded shares of Lumentum from an overweight rating to a neutral rating and cut their price objective for the company from $80.00 to $50.00 in a report on Tuesday, November 13th. Craig Hallum set a $60.00 price objective on shares of Lumentum and gave the company a buy rating in a report on Monday, November 12th. Barclays reiterated a buy rating and issued a $48.00 price objective on shares of Lumentum in a report on Tuesday, November 13th. Finally, Northland Securities reiterated an outperform rating and issued a $60.00 price objective on shares of Lumentum in a report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Lumentum has a consensus rating of Buy and a consensus price target of $68.16.
Get Lumentum alerts:NASDAQ LITE traded down $0.02 on Thursday, reaching $46.31. The stock had a trading volume of 40,009 shares, compared to its average volume of 1,855,799. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.17 and a quick ratio of 3.24. Lumentum has a 1-year low of $37.00 and a 1-year high of $74.40. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.94 and a beta of 0.65.
Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. Lumentum had a return on equity of 20.24% and a net margin of 7.50%. The firm had revenue of $373.70 million for the quarter, compared to analyst estimates of $365.08 million. During the same period in the prior year, the firm posted $1.67 EPS. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities analysts anticipate that Lumentum will post 3.37 earnings per share for the current fiscal year.
In related news, Director Martin A. Kaplan sold 3,025 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $48.72, for a total transaction of $147,378.00. Following the completion of the transaction, the director now owns 18,902 shares of the company’s stock, valued at approximately $920,905.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 63,877 shares of the company’s stock, valued at approximately $3,218,123.26. 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 in the last ninety days. 0.55% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of LITE. New Mexico Educational Retirement Board boosted its position in Lumentum by 2.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 15,000 shares of the technology company’s stock valued at $630,000 after buying an additional 300 shares during the period. Brown Advisory Inc. boosted its position in Lumentum by 6.4% in the 4th quarter. Brown Advisory Inc. now owns 5,033 shares of the technology company’s stock valued at $212,000 after buying an additional 301 shares during the period. LaSalle Street Capital Management LLC boosted its position in Lumentum by 1.5% in the 4th quarter. LaSalle Street Capital Management LLC now owns 26,079 shares of the technology company’s stock valued at $1,096,000 after buying an additional 373 shares during the period. IFP Advisors Inc boosted its position in Lumentum by 121.7% in the 4th quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock valued at $39,000 after buying an additional 521 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Lumentum by 70.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,349 shares of the technology company’s stock valued at $57,000 after buying an additional 559 shares during the period. 88.21% 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 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.
See Also: Debt-To-Equity Ratio
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