Lumentum Holdings Inc. (NASDAQ:LITE) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $36.85 and last traded at $36.27, with a volume of 947,490 shares changing hands. The stock had previously closed at $35.24.

A number of research analysts have recently commented on the company. B. Riley reiterated a “buy” rating and issued a $41.50 price objective on shares of Lumentum Holdings in a report on Monday, August 15th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $38.00 price objective (up previously from $32.00) on shares of Lumentum Holdings in a report on Saturday, August 13th. Zacks Investment Research upgraded Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, August 16th. Jefferies Group increased their price objective on Lumentum Holdings from $34.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, Stifel Nicolaus raised their price target on Lumentum Holdings from $31.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $33.35.

The company’s market capitalization is $2.17 billion. The firm has a 50 day moving average price of $31.46 and a 200-day moving average price of $26.51.

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, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The business had revenue of $241.70 million for the quarter, compared to analyst estimates of $238.52 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. Equities analysts predict that Lumentum Holdings Inc. will post $1.84 earnings per share for the current fiscal year.

In other Lumentum Holdings news, CEO Alan S. Lowe sold 174,222 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $34.03, for a total value of $5,928,774.66. Following the completion of the sale, the chief executive officer now directly owns 38,880 shares in the company, valued at $1,323,086.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Tachibana sold 6,086 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $34.64, for a total value of $210,819.04. Following the completion of the sale, the chief financial officer now owns 13,239 shares of the company’s stock, valued at $458,598.96. 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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