Lumentum Holdings Inc. (NASDAQ:LITE) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) have received a consensus rating of "Moderate Buy" from the seventeen ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eleven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $85.53.

A number of brokerages recently issued reports on LITE. UBS Group decreased their price objective on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. B. Riley boosted their price objective on shares of Lumentum from $65.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Needham & Company LLC boosted their target price on shares of Lumentum from $100.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Finally, Stifel Nicolaus upped their price objective on shares of Lumentum from $85.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, June 5th.

Insider Buying and Selling at Lumentum

In related news, CFO Wajid Ali sold 2,222 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total value of $185,714.76. Following the sale, the chief financial officer owned 47,460 shares in the company, valued at $3,966,706.80. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the completion of the sale, the director owned 230,471 shares in the company, valued at $21,542,124.37. This represents a 7.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,520 shares of company stock worth $5,742,078. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lumentum

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crestline Management LP purchased a new stake in Lumentum in the 4th quarter valued at about $4,435,000. UMB Bank n.a. increased its stake in Lumentum by 132.9% in the 1st quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after buying an additional 448 shares during the last quarter. Asset Management One Co. Ltd. purchased a new stake in Lumentum in the 1st quarter valued at about $69,000. Robeco Institutional Asset Management B.V. increased its stake in Lumentum by 43.7% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 11,059 shares of the technology company's stock valued at $689,000 after buying an additional 3,362 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Lumentum by 72.1% during the 1st quarter. GAMMA Investing LLC now owns 2,051 shares of the technology company's stock valued at $128,000 after acquiring an additional 859 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $92.99 on Monday. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -14.42 and a beta of 1.34. The business has a 50-day moving average of $82.01 and a 200-day moving average of $75.26. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.72 and a quick ratio of 3.53. Lumentum has a fifty-two week low of $38.29 and a fifty-two week high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $425.20 million during the quarter, compared to the consensus estimate of $418.18 million. Lumentum had a negative net margin of 29.87% and a negative return on equity of 8.69%. Lumentum's revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. As a group, sell-side analysts predict that Lumentum will post 0.03 earnings per share for the current fiscal year.

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

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