Lumentum (NASDAQ:LITE) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Barclays raised Lumentum from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $65.00 to $67.00 in a report on Wednesday, January 10th. MKM Partners boosted their price target on Lumentum to $71.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $81.00 price target on shares of Lumentum in a report on Wednesday, January 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price target on shares of Lumentum in a report on Thursday, September 21st. Finally, DA Davidson boosted their price target on Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Lumentum currently has an average rating of “Buy” and a consensus target price of $69.69.

Lumentum (LITE) traded up $0.20 on Friday, reaching $53.20. The company’s stock had a trading volume of 1,355,800 shares, compared to its average volume of 1,543,467. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21. The stock has a market capitalization of $3,300.00 and a P/E ratio of -34.77. Lumentum has a one year low of $34.15 and a one year high of $68.63.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.09). Lumentum had a positive return on equity of 15.99% and a negative net margin of 9.32%. equities analysts anticipate that Lumentum will post 2.86 EPS for the current fiscal year.

In related news, CFO Aaron Tachibana sold 1,248 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $60.00, for a total value of $74,880.00. Following the completion of the transaction, the chief financial officer now directly owns 69,830 shares in the company, valued at $4,189,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Penny Herscher sold 822 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the transaction, the director now owns 34,793 shares of the company’s stock, valued at $1,760,873.73. The disclosure for this sale can be found here. Insiders sold 31,643 shares of company stock valued at $1,806,554 over the last quarter. Insiders own 0.76% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC increased its stake in Lumentum by 71.8% in the second quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock valued at $118,000 after purchasing an additional 862 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lumentum by 111.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after purchasing an additional 1,406 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Lumentum in the second quarter valued at $226,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Lumentum during the third quarter worth about $234,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Lumentum during the third quarter worth about $237,000.

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Lumentum 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 (NASDAQ:LITE)

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