Lumentum (NASDAQ:LITE) Lifted to “B-” at TheStreet

Lumentum (NASDAQ:LITE) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a research report issued on Wednesday, April 17th, TheStreetRatingsTable reports.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities set a $80.00 target price on Lumentum and gave the stock a “buy” rating in a report on Tuesday, January 29th. Barclays reissued a “buy” rating and issued a $52.00 price target on shares of Lumentum in a report on Friday, January 18th. Zacks Investment Research raised Lumentum from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Wednesday, January 16th. BidaskClub downgraded Lumentum from a “strong-buy” rating to a “buy” rating in a report on Friday, February 8th. Finally, MKM Partners boosted their price target on Lumentum to $66.00 and gave the company a “buy” rating in a report on Wednesday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $70.37.

Shares of Lumentum stock traded down $0.27 on Wednesday, reaching $59.13. 1,533,078 shares of the stock were exchanged, compared to its average volume of 1,316,549. The company has a quick ratio of 3.24, a current ratio of 3.96 and a debt-to-equity ratio of 0.55. Lumentum has a twelve month low of $37.00 and a twelve month high of $69.95. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 7th. The technology company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.22. Lumentum had a return on equity of 19.94% and a net margin of 1.57%. The firm had revenue of $433.00 million during the quarter, compared to the consensus estimate of $428.33 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue was up 44.8% compared to the same quarter last year. Research analysts anticipate that Lumentum will post 3.27 EPS for the current fiscal year.

In other Lumentum news, EVP Jason Reinhardt sold 9,575 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $50.38, for a total transaction of $482,388.50. Following the transaction, the executive vice president now owns 63,877 shares of the company’s stock, valued at $3,218,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin A. Kaplan sold 3,025 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $48.72, for a total value of $147,378.00. Following the transaction, the director now directly owns 18,902 shares in the company, valued at approximately $920,905.44. The disclosure for this sale can be found here. Insiders have sold 15,617 shares of company stock worth $768,579 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Lumentum by 9.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,133 shares of the technology company’s stock valued at $177,000 after purchasing an additional 269 shares during the last quarter. Magnus Financial Group LLC lifted its stake in shares of Lumentum by 4.5% in the 1st quarter. Magnus Financial Group LLC now owns 6,356 shares of the technology company’s stock valued at $359,000 after purchasing an additional 274 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Lumentum by 159.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 482 shares of the technology company’s stock valued at $28,000 after purchasing an additional 296 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Lumentum by 2.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 15,000 shares of the technology company’s stock valued at $630,000 after purchasing an additional 300 shares during the last quarter. Finally, Brown Advisory Inc. lifted its stake in shares of Lumentum by 6.4% in the 4th quarter. Brown Advisory Inc. now owns 5,033 shares of the technology company’s stock valued at $212,000 after purchasing an additional 301 shares during the last quarter. 88.11% of the stock is currently owned by institutional investors and hedge funds.

About Lumentum

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.

Featured Article: What are popular range trading strategies?

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.