Lumentum Holdings Inc. (NASDAQ:LITE) hit a new 52-week high on Thursday . The company traded as high as $34.56 and last traded at $34.11, with a volume of 1,125,736 shares trading hands. The stock had previously closed at $32.00.

Several research analysts have recently commented on the stock. B. Riley reissued a “buy” rating and issued a $33.00 price objective on shares of Lumentum Holdings in a research note on Sunday, May 8th. Zacks Investment Research lowered shares of Lumentum Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lumentum Holdings in a research note on Monday, August 8th. MKM Partners raised their price objective on shares of Lumentum Holdings from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Finally, Morgan Stanley lowered shares of Lumentum Holdings from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $20.00 to $27.00 in a research note on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Lumentum Holdings has an average rating of “Buy” and an average price target of $33.35.

The firm has a 50 day moving average price of $28.31 and a 200-day moving average price of $25.61. The company’s market cap is $2.05 billion.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The company had revenue of $241.70 million for the quarter, compared to analyst estimates of $238.52 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. Equities analysts expect that Lumentum Holdings Inc. will post $1.84 EPS for the current year.

In other news, COO Vincent Retort sold 39,473 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $30.00, for a total transaction of $1,184,190.00. Following the completion of the transaction, the chief operating officer now owns 40,060 shares of the company’s stock, valued at approximately $1,201,800. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

A number of hedge funds have bought and sold shares of LITE. Argent Capital Management LLC acquired a new stake in Lumentum Holdings during the fourth quarter worth about $1,322,000. Employees Retirement System of Texas acquired a new stake in Lumentum Holdings during the fourth quarter worth about $5,236,000. Finally, Marshall Wace LLP acquired a new stake in Lumentum Holdings during the fourth quarter worth about $7,126,000.

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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