Lumentum Holdings Inc. (NASDAQ:LITE) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.25 and last traded at $34.66, with a volume of 373,701 shares changing hands. The stock had previously closed at $34.53.

A number of equities research analysts have recently issued reports on LITE shares. Stifel Nicolaus upped their target price on shares of Lumentum Holdings from $31.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. B. Riley reaffirmed a “buy” rating and issued a $41.50 target price on shares of Lumentum Holdings in a report on Wednesday, August 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Lumentum Holdings in a report on Monday, August 8th. Jefferies Group reaffirmed a “buy” rating and issued a $34.00 target price on shares of Lumentum Holdings in a report on Thursday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Lumentum Holdings in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Lumentum Holdings presently has an average rating of “Buy” and an average target price of $33.35.

The stock has a 50-day moving average price of $30.47 and a 200 day moving average price of $26.30. The firm’s market cap is $2.05 billion.

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

In related news, CEO Alan S. Lowe sold 174,222 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $34.03, for a total transaction of $5,928,774.66. Following the transaction, the chief executive officer now directly owns 38,880 shares of the company’s stock, valued at $1,323,086.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Vincent Retort sold 1,523 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $33.96, for a total transaction of $51,721.08. Following the transaction, the chief operating officer now directly owns 587 shares in the company, valued at $19,934.52. The disclosure for this sale can be found here.

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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