Lumentum Holdings Inc. (NASDAQ:LITE) rose 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 trading hands. The stock had previously closed at $24.74.

LITE has been the topic of several research analyst reports. Zacks Investment Research lowered Lumentum Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Jefferies Group restated a “buy” rating and set a $34.00 target price on shares of Lumentum Holdings in a research report on Thursday, May 5th. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Lumentum Holdings in a research report on Wednesday, June 15th. JPMorgan Chase & Co. upgraded Lumentum Holdings from a “neutral” rating to an “overweight” rating and upped their target price for the company from $25.00 to $28.00 in a research report on Thursday, May 5th. Finally, Drexel Hamilton initiated coverage on Lumentum Holdings in a research report on Friday, April 8th. They set a “hold” rating on the stock. One 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 has an average rating of “Hold” and a consensus target price of $28.12.

The company has a 50 day moving average of $24.59 and a 200 day moving average of $23.96. The company’s market capitalization is $1.56 billion.

Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. During the same quarter in the prior year, the firm posted $0.11 EPS. The company earned $230.40 million during the quarter, compared to analysts’ expectations of $226.81 million. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, analysts predict that Lumentum Holdings Inc. will post $1.25 EPS for the current year.

In related news, Director Harold L. Covert sold 7,376 shares of the business’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $23.70, for a total transaction of $174,811.20. Following the transaction, the director now owns 6,558 shares in the company, valued at approximately $155,424.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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