Lumentum Holdings Inc. (NASDAQ:LITE) had its price target upped by investment analysts at Needham & Company LLC from $40.00 to $50.00 in a report released on Monday. The brokerage presently has a “strong-buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 25.41% from the company’s current price.

A number of other equities analysts also recently weighed in on LITE. B. Riley restated a “buy” rating and set a $41.50 target price on shares of Lumentum Holdings in a report on Monday, August 15th. Zacks Investment Research upgraded shares of Lumentum Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. JPMorgan Chase & Co. restated a “buy” rating on shares of Lumentum Holdings in a report on Monday, August 8th. Stifel Nicolaus upped their price objective 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. Finally, Jefferies Group upped their price objective on shares of Lumentum Holdings from $34.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Lumentum Holdings currently has a consensus rating of “Buy” and a consensus price target of $35.29.

Lumentum Holdings (NASDAQ:LITE) opened at 39.87 on Monday. The company’s market capitalization is $2.40 billion. The stock’s 50 day moving average is $34.61 and its 200-day moving average is $27.72. Lumentum Holdings has a 12-month low of $13.97 and a 12-month high of $41.18.

Lumentum Holdings (NASDAQ:LITE) last issued its earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. The business had revenue of $241.70 million for the quarter, compared to the consensus estimate of $238.52 million. Lumentum Holdings had a net margin of 1.01% and a return on equity of 11.91%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities analysts predict that Lumentum Holdings will post $1.84 earnings per share for the current fiscal year.

In related news, CEO Alan S. Lowe sold 23,610 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $35.45, for a total transaction of $836,974.50. Following the completion of the sale, the chief executive officer now owns 140,302 shares of the company’s stock, valued at $4,973,705.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan S. Lowe sold 174,222 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $34.03, for a total transaction of $5,928,774.66. Following the sale, the chief executive officer now directly owns 38,880 shares of the company’s stock, valued at approximately $1,323,086.40. The disclosure for this sale can be found here.

A number of large investors have recently bought and sold shares of LITE. Mason Street Advisors LLC purchased a new stake in Lumentum Holdings during the second quarter valued at $224,000. Wolverine Asset Management LLC purchased a new position in Lumentum Holdings during the second quarter valued at about $605,000. Schwab Charles Investment Management Inc. increased its position in Lumentum Holdings by 96.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 189,881 shares of the company’s stock valued at $4,596,000 after buying an additional 92,984 shares in the last quarter. Stifel Financial Corp purchased a new position in Lumentum Holdings during the second quarter valued at about $312,000. Finally, American Century Companies Inc. purchased a new position in Lumentum Holdings during the second quarter valued at about $354,000. 74.98% of the stock is owned by institutional investors and hedge funds.

Lumentum Holdings Company Profile

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.

5 Day Chart for NASDAQ:LITE

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