Analysts Set Lumentum Holdings Inc. (NASDAQ:LITE) Target Price at $52.69

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have earned a consensus rating of “Hold” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $52.69.

LITE has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $62.00 price objective on shares of Lumentum in a research note on Monday, April 1st. Rosenblatt Securities boosted their price target on Lumentum from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. lowered their price target on Lumentum from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. Barclays lifted their price objective on Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. Finally, Raymond James upped their target price on Lumentum from $51.50 to $58.00 and gave the company an “outperform” rating in a report on Monday, April 1st.

Insiders Place Their Bets

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total value of $487,524.69. Following the completion of the transaction, the chief accounting officer now owns 33,188 shares in the company, valued at $1,633,845.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors have recently modified their holdings of the stock. Bridge City Capital LLC grew its stake in shares of Lumentum by 0.7% in the first quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company’s stock worth $1,544,000 after acquiring an additional 242 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Lumentum by 1.7% during the third quarter. Arizona State Retirement System now owns 19,561 shares of the technology company’s stock valued at $884,000 after buying an additional 321 shares during the last quarter. Mcdonald Partners LLC boosted its position in shares of Lumentum by 1.8% during the third quarter. Mcdonald Partners LLC now owns 20,022 shares of the technology company’s stock valued at $905,000 after buying an additional 350 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Lumentum by 8.7% during the third quarter. Kestra Advisory Services LLC now owns 5,030 shares of the technology company’s stock valued at $227,000 after buying an additional 404 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Lumentum by 3.1% during the first quarter. State of Michigan Retirement System now owns 16,528 shares of the technology company’s stock valued at $783,000 after buying an additional 500 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Trading Up 3.4 %

Lumentum stock opened at $43.42 on Friday. The stock has a market cap of $2.93 billion, a P/E ratio of -11.02 and a beta of 1.09. Lumentum has a fifty-two week low of $35.35 and a fifty-two week high of $65.16. The firm’s fifty day moving average price is $46.98 and its 200-day moving average price is $47.01. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.42 and a current ratio of 3.13.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). The firm had revenue of $366.80 million during the quarter, compared to analysts’ expectations of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. Equities research analysts forecast that Lumentum will post -0.64 earnings per share for the current fiscal year.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.