Shares of Lumentum Holdings Inc. (NASDAQ:LITE) reached a new 52-week high on Thursday . The stock 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.

LITE has been the topic of several research analyst reports. Needham & Company LLC raised Lumentum Holdings from a “buy” rating to a “strong-buy” rating and raised their price objective for the company from $35.00 to $40.00 in a research note on Monday, July 25th. Zacks Investment Research raised Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $38.00 price objective (up from $32.00) on shares of Lumentum Holdings in a research note on Saturday, August 13th. MKM Partners lifted their price target on Lumentum Holdings from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 20th. Finally, Barclays PLC lifted their price target on Lumentum Holdings from $23.00 to $30.00 and gave the company an “underweight” rating in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Lumentum Holdings currently has a consensus rating of “Buy” and an average price target of $33.35.

The company has a 50-day moving average price of $28.90 and a 200-day moving average price of $25.77. The company’s market cap is $2.06 billion.

Lumentum Holdings (NASDAQ:LITE) last released 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 previous year, the firm posted $0.15 earnings per share. The company had revenue of $241.70 million for the quarter, compared to the consensus estimate of $238.52 million. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Lumentum Holdings Inc. will post $1.84 EPS for the current year.

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

A hedge fund recently bought a new stake in Lumentum Holdings stock. Employees Retirement System of Texas bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 237,800 shares of the company’s stock, valued at approximately $5,236,000. Employees Retirement System of Texas owned approximately 0.40% of Lumentum Holdings as of its most recent filing with the SEC.

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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