BidaskClub upgraded shares of Lumentum Holdings Inc. (NASDAQ:LITE) from a sell rating to a hold rating in a report issued on Saturday.

A number of other research analysts have also commented on LITE. B. Riley reiterated a buy rating and set a $77.00 price objective (up previously from $58.00) on shares of Lumentum Holdings in a research note on Tuesday, June 27th. Barclays PLC raised their price objective on shares of Lumentum Holdings from $50.00 to $59.00 and gave the company an equal weight rating in a research note on Thursday, August 10th. Piper Jaffray Companies reiterated an overweight rating and set a $68.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 10th. Needham & Company LLC reiterated a strong-buy rating and set a $80.00 price objective on shares of Lumentum Holdings in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a buy rating and set a $72.00 price objective (up previously from $63.00) on shares of Lumentum Holdings in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $64.75.

Shares of Lumentum Holdings (NASDAQ LITE) traded down 1.31% during trading on Friday, reaching $56.70. The company’s stock had a trading volume of 1,390,675 shares. The company has a 50 day moving average price of $59.24 and a 200 day moving average price of $53.83. The firm’s market capitalization is $3.49 billion. Lumentum Holdings has a 52 week low of $32.90 and a 52 week high of $68.63.

Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.18. Lumentum Holdings had a negative net margin of 10.25% and a positive return on equity of 18.12%. The business had revenue of $222.70 million for the quarter, compared to analyst estimates of $229.45 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, equities research analysts expect that Lumentum Holdings will post $3.02 EPS for the current fiscal year.

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In related news, COO Vincent Retort sold 14,875 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $51.59, for a total value of $767,401.25. Following the completion of the transaction, the chief operating officer now owns 92,694 shares of the company’s stock, valued at approximately $4,782,083.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Penny Herscher sold 1,313 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $69,641.52. Following the completion of the transaction, the director now directly owns 26,464 shares of the company’s stock, valued at approximately $1,403,650.56. The disclosure for this sale can be found here. Insiders have sold 52,199 shares of company stock valued at $2,692,047 over the last 90 days. 0.76% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Creative Planning raised its position in Lumentum Holdings by 15.1% in the first quarter. Creative Planning now owns 1,971 shares of the technology company’s stock worth $105,000 after buying an additional 258 shares in the last quarter. Riverhead Capital Management LLC raised its position in Lumentum Holdings by 71.8% in the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after buying an additional 862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lumentum Holdings by 111.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares in the last quarter. LS Investment Advisors LLC raised its position in Lumentum Holdings by 69.1% in the first quarter. LS Investment Advisors LLC now owns 3,494 shares of the technology company’s stock worth $186,000 after buying an additional 1,428 shares in the last quarter. Finally, World Asset Management Inc purchased a new position in Lumentum Holdings during the second quarter worth approximately $211,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Lumentum Holdings Company Profile

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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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