Lumentum (NASDAQ:LITE) Stock Rating Reaffirmed by Rosenblatt Securities

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a report released on Monday, Stock Target Advisor reports. They currently have a $90.00 price target on the technology company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 25.45% from the stock’s current price.

A number of other brokerages also recently commented on LITE. JPMorgan Chase & Co. set a $74.00 price objective on shares of Lumentum and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group set a $71.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research report on Friday, November 1st. Zacks Investment Research downgraded shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus set a $70.00 target price on Lumentum and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Piper Jaffray Companies raised their price target on Lumentum from $68.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Lumentum currently has a consensus rating of “Buy” and a consensus price target of $72.64.

Shares of LITE opened at $71.74 on Monday. Lumentum has a 1 year low of $37.31 and a 1 year high of $74.54. The stock has a market capitalization of $5.72 billion, a PE ratio of 21.74, a PEG ratio of 1.84 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.85 and a current ratio of 4.49. The stock has a 50-day simple moving average of $64.10 and a 200-day simple moving average of $55.74.

Lumentum (NASDAQ:LITE) last issued its earnings results on Thursday, October 31st. The technology company reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.24. Lumentum had a negative net margin of 2.18% and a positive return on equity of 17.81%. The firm had revenue of $449.90 million for the quarter, compared to analysts’ expectations of $448.16 million. During the same quarter last year, the company earned $1.31 earnings per share. The firm’s revenue was up 27.1% compared to the same quarter last year. Analysts predict that Lumentum will post 3.99 EPS for the current year.

In other Lumentum news, SVP Judy G. Hamel sold 3,841 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $70.00, for a total transaction of $268,870.00. Following the transaction, the senior vice president now owns 46,891 shares of the company’s stock, valued at $3,282,370. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Vincent Retort sold 46,931 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $70.00, for a total value of $3,285,170.00. Following the transaction, the chief operating officer now directly owns 83,457 shares in the company, valued at approximately $5,841,990. The disclosure for this sale can be found here. Insiders sold a total of 182,240 shares of company stock worth $11,413,524 over the last ninety days. Insiders own 0.48% of the company’s stock.

Several institutional investors have recently bought and sold shares of LITE. Private Capital Group LLC grew its stake in Lumentum by 5,481.8% during the 2nd quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock worth $36,000 after buying an additional 603 shares during the last quarter. Advisory Services Network LLC lifted its stake in Lumentum by 83.6% in the second quarter. Advisory Services Network LLC now owns 953 shares of the technology company’s stock valued at $51,000 after buying an additional 434 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Lumentum by 31.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock valued at $87,000 after buying an additional 386 shares during the last quarter. First Manhattan Co. lifted its stake in Lumentum by 150.0% in the second quarter. First Manhattan Co. now owns 2,500 shares of the technology company’s stock valued at $133,000 after buying an additional 1,500 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Lumentum by 95.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,919 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,422 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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