Lumentum Holdings Inc. (NASDAQ:LITE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $87.40.

Several brokerages have recently issued reports on LITE. Northland Securities increased their price objective on Lumentum from $60.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. UBS Group raised their price objective on shares of Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Raymond James upgraded shares of Lumentum from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $96.00 to $82.00 in a research note on Monday, March 24th. Rosenblatt Securities restated a “buy” rating and issued a $110.00 price target on shares of Lumentum in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Lumentum in a research note on Friday, February 7th.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 2,172 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LITE. California State Teachers Retirement System lifted its position in shares of Lumentum by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 64,170 shares of the technology company’s stock valued at $5,387,000 after acquiring an additional 251 shares during the period. CWC Advisors LLC. purchased a new position in Lumentum during the 4th quarter valued at about $201,000. Virtue Capital Management LLC acquired a new position in Lumentum during the fourth quarter worth about $899,000. Woodline Partners LP grew its position in shares of Lumentum by 377.7% in the fourth quarter. Woodline Partners LP now owns 282,055 shares of the technology company’s stock valued at $23,679,000 after purchasing an additional 223,011 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Lumentum by 30.5% during the 4th quarter. Two Sigma Advisers LP now owns 243,600 shares of the technology company’s stock worth $20,450,000 after purchasing an additional 57,000 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Down 7.3 %

NASDAQ:LITE opened at $49.56 on Friday. Lumentum has a 52 week low of $38.29 and a 52 week high of $104.00. The stock’s fifty day moving average is $71.46 and its two-hundred day moving average is $76.13. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of -6.44 and a beta of 1.14. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Research analysts anticipate that Lumentum will post 0.03 EPS for the current 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.