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

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the sixteen research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $82.20.

LITE has been the subject of a number of recent research reports. B. Riley boosted their price objective on shares of Lumentum from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Needham & Company LLC lowered their price target on shares of Lumentum from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Northland Securities set a $80.00 price target on shares of Lumentum in a report on Wednesday, May 7th. Barclays set a $75.00 price target on shares of Lumentum and gave the company an "overweight" rating in a report on Wednesday, May 7th. Finally, Northland Capmk upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 4,426 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $71.80, for a total transaction of $317,786.80. Following the sale, the insider now directly owns 92,099 shares of the company's stock, valued at approximately $6,612,708.20. This represents a 4.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jae Kim sold 4,577 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $77.98, for a total transaction of $356,914.46. Following the sale, the senior vice president now directly owns 31,534 shares in the company, valued at approximately $2,459,021.32. The trade was a 12.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,298 shares of company stock worth $1,081,764 in the last three months. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Lumentum

A number of institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Lumentum in the 1st quarter worth approximately $25,000. UMB Bank n.a. lifted its stake in shares of Lumentum by 301.2% in the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock worth $28,000 after purchasing an additional 253 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Lumentum by 164.4% in the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after purchasing an additional 296 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after purchasing an additional 130 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Lumentum by 103.2% in the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Price Performance

LITE stock traded down $0.08 during midday trading on Friday, reaching $78.30. The company had a trading volume of 538,811 shares, compared to its average volume of 1,983,657. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum has a 1 year low of $38.29 and a 1 year high of $104.00. The company has a market capitalization of $5.43 billion, a P/E ratio of -10.16 and a beta of 1.18. The firm has a 50-day moving average price of $63.19 and a 200-day moving average price of $75.39.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. The business had revenue of $425.20 million during the quarter, compared to analysts' expectations of $418.18 million. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. On average, research analysts anticipate 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.