Craig Hallum restated their buy rating on shares of Lumentum (NASDAQ:LITE) in a report published on Tuesday morning, The Fly reports. Craig Hallum currently has a $90.00 target price on the technology company’s stock, up from their previous target price of $85.00.

A number of other research firms have also recently issued reports on LITE. Barclays lifted their target price on shares of Lumentum from $59.00 to $65.00 and gave the company an equal weight rating in a research note on Thursday, November 2nd. MKM Partners raised their price target on shares of Lumentum to $71.00 and gave the company a neutral rating in a report on Thursday, November 2nd. DA Davidson raised their price target on shares of Lumentum from $82.00 to $90.00 and gave the company a buy rating in a report on Thursday, November 2nd. Jefferies Group reissued a buy rating and issued a $75.00 price target on shares of Lumentum in a report on Wednesday, November 1st. Finally, Zacks Investment Research lowered shares of Lumentum from a buy rating to a hold rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Lumentum currently has an average rating of Buy and an average target price of $70.41.

Lumentum (LITE) opened at $56.15 on Tuesday. The company has a market cap of $3,344.64, a PE ratio of 37.95, a price-to-earnings-growth ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.38 and a current ratio of 4.84. Lumentum has a one year low of $40.35 and a one year high of $68.63.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The firm had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $357.03 million. During the same quarter last year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 52.7% compared to the same quarter last year. equities analysts expect that Lumentum will post 2.69 EPS for the current year.

In related news, Director Martin A. Kaplan sold 15,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $57.07, for a total value of $856,050.00. Following the sale, the director now directly owns 29,573 shares of the company’s stock, valued at approximately $1,687,731.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan S. Lowe sold 6,025 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $57.13, for a total transaction of $344,208.25. Following the completion of the sale, the chief executive officer now directly owns 250,593 shares in the company, valued at $14,316,378.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,643 shares of company stock worth $1,806,554. Insiders own 0.76% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Lumentum by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,330,153 shares of the technology company’s stock worth $304,085,000 after buying an additional 122,150 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of Lumentum by 86.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock worth $86,436,000 after purchasing an additional 735,239 shares during the last quarter. State Street Corp increased its stake in shares of Lumentum by 16.3% during the 2nd quarter. State Street Corp now owns 1,491,562 shares of the technology company’s stock worth $85,095,000 after purchasing an additional 208,872 shares during the last quarter. FMR LLC increased its stake in shares of Lumentum by 38.8% during the 2nd quarter. FMR LLC now owns 1,249,049 shares of the technology company’s stock worth $71,259,000 after purchasing an additional 348,980 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Lumentum by 17.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,231,582 shares of the technology company’s stock worth $66,937,000 after purchasing an additional 180,426 shares during the last quarter.

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About Lumentum

Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).

The Fly

Analyst Recommendations for Lumentum (NASDAQ:LITE)

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