Somewhat Positive Press Coverage Somewhat Unlikely to Affect Lumentum (LITE) Share Price
Headlines about Lumentum (NASDAQ:LITE) have trended somewhat positive this week, according to Accern. Accern scores the sentiment of press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Lumentum earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned news headlines about the technology company an impact score of 46.3090540980534 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news headlines that may have impacted Accern’s scoring:
- Lumentum Holdings Inc. (NASDAQ:LITE) – Is The Stock Overvalued? (P/E Analysis) – Nasdaq Journal (nasdaqjournal.com)
- Stocks Getting Somewhat Favorable Media Coverage: Lumentum Holdings Inc. (LITE), Medical Properties Trust, Inc … – Market Movers (financialqz.com)
- Harold L. Covert Sells 7,564 Shares of Lumentum Holdings Inc (LITE) Stock (americanbankingnews.com)
- Jason Reinhardt Sells 9,308 Shares of Lumentum Holdings Inc (LITE) Stock (americanbankingnews.com)
- Lumentum Holdings Inc. (LITE) – Investors Roundup – Wall Street Morning (wallstreetmorning.com)
Several equities analysts have recently commented on the company. TheStreet upgraded Lumentum from a “c” rating to a “b-” rating in a research note on Wednesday, February 7th. Northland Securities reiterated a “buy” rating and set a $82.00 target price on shares of Lumentum in a research note on Wednesday, February 7th. B. Riley reiterated a “buy” rating and set a $85.00 target price (up from $81.00) on shares of Lumentum in a research note on Wednesday, February 7th. Loop Capital increased their target price on Lumentum from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, DA Davidson increased their target price on Lumentum to $101.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. Lumentum has a consensus rating of “Buy” and an average target price of $72.31.
Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.67. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The firm had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $357.03 million. During the same period last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 52.7% on a year-over-year basis. sell-side analysts predict that Lumentum will post 2.85 EPS for the current year.
In other Lumentum news, CEO Alan S. Lowe sold 5,548 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $58.53, for a total value of $324,724.44. Following the sale, the chief executive officer now directly owns 231,763 shares of the company’s stock, valued at $13,565,088.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan S. Lowe sold 6,025 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $57.13, for a total value of $344,208.25. Following the completion of the sale, the chief executive officer now directly owns 250,593 shares in the company, valued at $14,316,378.09. The disclosure for this sale can be found here. Insiders have sold 33,515 shares of company stock worth $1,907,356 over the last 90 days. 0.76% of the stock is currently owned by company insiders.
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).
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