Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded up 4.7% on Wednesday . The company traded as high as $31.00 and last traded at $30.92, with a volume of 616,618 shares traded. The stock had previously closed at $29.52.

A number of analysts recently weighed in on the stock. B. Riley restated a “buy” rating and set a $31.50 target price on shares of Lumentum Holdings in a research note on Tuesday, May 3rd. Jefferies Group restated a “buy” rating and set a $34.00 target price on shares of Lumentum Holdings in a research note on Thursday, May 5th. Zacks Investment Research lowered shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. JPMorgan Chase & Co. upgraded shares of Lumentum Holdings from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $25.00 to $28.00 in a research note on Thursday, May 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Lumentum Holdings in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $28.81.

The firm’s market cap is $1.82 billion. The stock has a 50-day moving average price of $26.21 and a 200 day moving average price of $24.75.

Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $230.40 million for the quarter, compared to analyst estimates of $226.81 million. During the same period last year, the firm posted $0.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Equities research analysts predict that Lumentum Holdings Inc. will post $1.25 EPS for the current year.

In related news, COO Vincent Retort sold 39,473 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $30.00, for a total transaction of $1,184,190.00. Following the transaction, the chief operating officer now directly owns 40,060 shares of the company’s stock, valued at approximately $1,201,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harold L. Covert sold 7,376 shares of the business’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 directly owns 6,558 shares in the company, valued at $155,424.60. The disclosure for this sale can be found here.

A number of institutional investors recently added to or reduced their stakes in LITE. Dimensional Fund Advisors LP bought a new position in Lumentum Holdings during the fourth quarter valued at approximately $12,841,000. Marshall Wace LLP bought a new position in Lumentum Holdings during the fourth quarter valued at approximately $7,126,000. Principal Financial Group Inc. bought a new position in Lumentum Holdings during the fourth quarter valued at approximately $6,838,000. Finally, Employees Retirement System of Texas bought a new position in Lumentum Holdings during the fourth quarter valued at approximately $5,236,000.

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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