Lumentum Holdings Inc. (NASDAQ:LITE) hit a new 52-week high on Friday . The company traded as high as $31.89 and last traded at $31.42, with a volume of 333,359 shares changing hands. The stock had previously closed at $30.89.

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

The firm’s market capitalization is $1.86 billion. The stock has a 50-day moving average price of $26.52 and a 200 day moving average price of $24.84.

Lumentum Holdings (NASDAQ:LITE) last announced 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 business had revenue of $230.40 million for the quarter, compared to the consensus estimate of $226.81 million. Lumentum Holdings’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Equities research analysts expect that Lumentum Holdings Inc. will post $1.25 earnings per share for the current fiscal year.

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

A number of institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in Lumentum Holdings during the fourth quarter valued at approximately $7,126,000. Principal Financial Group Inc. purchased a new position in Lumentum Holdings during the fourth quarter valued at approximately $6,838,000. Finally, Employees Retirement System of Texas purchased 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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