Lumentum Holdings Inc. (NASDAQ:LITE) traded up 4.1% during trading on Thursday . The stock traded as high as $25.82 and last traded at $25.75, with a volume of 770,536 shares traded. The stock had previously closed at $24.74.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Lumentum Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price objective on shares of Lumentum Holdings in a report on Wednesday, June 15th. B. Riley reiterated a “buy” rating and issued a $33.00 price objective on shares of Lumentum Holdings in a report on Sunday, May 8th. Jefferies Group reiterated a “buy” rating and issued a $34.00 price objective on shares of Lumentum Holdings in a report on Thursday, May 5th. Finally, JPMorgan Chase & Co. upgraded Lumentum Holdings from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $28.00 in a report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Lumentum Holdings currently has an average rating of “Hold” and a consensus target price of $28.12.

The company’s market cap is $1.52 billion. The firm’s 50-day moving average price is $24.52 and its 200-day moving average price is $23.93.

Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Wednesday, May 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm earned $230.40 million during the quarter, compared to analysts’ expectations of $226.81 million. The business’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 EPS. Equities analysts predict that Lumentum Holdings Inc. will post $1.25 earnings per share for the current year.

In other news, Director Harold L. Covert sold 7,376 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $23.70, for a total value of $174,811.20. Following the transaction, the director now owns 6,558 shares in the company, valued at $155,424.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

A number of institutional investors recently made changes to their positions in LITE. Employees Retirement System of Texas bought a new position in shares of Lumentum Holdings during the fourth quarter worth approximately $5,236,000. Principal Financial Group Inc. bought a new position in shares of Lumentum Holdings during the fourth quarter worth approximately $6,838,000. Marshall Wace LLP bought a new position in shares of Lumentum Holdings during the fourth quarter worth approximately $7,126,000. Dimensional Fund Advisors LP bought a new position in shares of Lumentum Holdings during the fourth quarter worth approximately $12,841,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of Lumentum Holdings during the fourth quarter worth approximately $19,312,000.

Lumentum Holdings Inc (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets, including data communications (Datacom) and telecommunications (Telecom) networking, and industrial and commercial lasers (commercial lasers) for manufacturing, inspection and life-sciences applications.

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