Rosenblatt Securities set a $80.00 target price on Lumentum (NASDAQ:LITE) in a research report released on Tuesday. The firm currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on LITE. ValuEngine cut Lumentum from a hold rating to a sell rating in a research note on Friday, December 21st. BidaskClub upgraded Lumentum from a hold rating to a buy rating in a research note on Friday, November 23rd. TheStreet cut Lumentum from a b rating to a c+ rating in a research note on Thursday, November 29th. Raymond James decreased their price target on Lumentum from $87.00 to $85.00 and set a strong-buy rating for the company in a research note on Thursday, January 3rd. Finally, Barclays reiterated a buy rating and issued a $48.00 price target on shares of Lumentum in a research note on Tuesday, November 13th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Lumentum has a consensus rating of Buy and an average target price of $67.95.

Shares of NASDAQ LITE opened at $42.33 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 4.17 and a quick ratio of 4.88. The firm has a market cap of $2.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 0.74 and a beta of 0.65. Lumentum has a 1-year low of $37.00 and a 1-year high of $74.40.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.15. The firm had revenue of $373.70 million during the quarter, compared to analysts’ expectations of $365.08 million. Lumentum had a return on equity of 20.24% and a net margin of 7.50%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 EPS. As a group, equities analysts forecast that Lumentum will post 3.61 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in shares of Lumentum in the fourth quarter valued at about $25,000. IFP Advisors Inc increased its holdings in shares of Lumentum by 121.7% in the fourth quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock valued at $39,000 after purchasing an additional 521 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Lumentum by 70.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,349 shares of the technology company’s stock valued at $57,000 after purchasing an additional 559 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Lumentum by 149.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,497 shares of the technology company’s stock valued at $102,000 after purchasing an additional 897 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Lumentum by 25.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,864 shares of the technology company’s stock valued at $119,000 after purchasing an additional 581 shares during the period.

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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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