Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reissued by analysts at B. Riley in a research note issued on Friday. They presently have a $89.00 target price on the technology company’s stock. B. Riley’s price objective indicates a potential upside of 74.17% from the stock’s current price.

LITE has been the topic of several other research reports. Zacks Investment Research cut shares of Lumentum from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Barclays increased their price target on shares of Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. BidaskClub cut shares of Lumentum from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Craig Hallum reissued a “buy” rating and set a $85.00 price target (up previously from $75.00) on shares of Lumentum in a research report on Wednesday, November 1st. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Lumentum in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Lumentum has an average rating of “Buy” and an average price target of $69.56.

Shares of Lumentum (NASDAQ LITE) traded up $0.90 on Friday, hitting $51.10. 1,265,600 shares of the stock traded hands, compared to its average volume of 1,372,450. The firm has a market capitalization of $3,140.00 and a PE ratio of -33.40. Lumentum has a 1-year low of $34.15 and a 1-year high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38.

In other Lumentum news, Director Martin A. Kaplan sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 29,573 shares in the company, valued at $1,687,731.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan S. Lowe sold 5,548 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $58.53, for a total transaction of $324,724.44. Following the completion of the transaction, the chief executive officer now owns 231,763 shares in the company, valued at $13,565,088.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,643 shares of company stock worth $1,806,554. 0.76% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in shares of Lumentum during the third quarter worth approximately $434,000. Shelton Capital Management purchased a new position in shares of Lumentum during the second quarter worth approximately $314,000. Chicago Equity Partners LLC grew its position in shares of Lumentum by 20.1% during the second quarter. Chicago Equity Partners LLC now owns 14,655 shares of the technology company’s stock worth $836,000 after acquiring an additional 2,455 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Lumentum during the third quarter worth approximately $318,000. Finally, Macquarie Group Ltd. grew its position in shares of Lumentum by 21.5% during the third quarter. Macquarie Group Ltd. now owns 114,540 shares of the technology company’s stock worth $6,225,000 after acquiring an additional 20,244 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “B. Riley Reiterates Buy Rating for Lumentum (LITE)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2018/01/08/b-riley-reiterates-buy-rating-for-lumentum-lite.html.

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).

Analyst Recommendations for Lumentum (NASDAQ:LITE)

Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.