Lumentum Holdings Inc. (NASDAQ:LITE) Receives $82.20 Consensus Price Target from Brokerages

Shares of Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $82.20.

A number of equities analysts recently weighed in on LITE shares. BNP Paribas upgraded shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price for the company in a research report on Tuesday, March 11th. Stifel Nicolaus increased their price objective on shares of Lumentum from $95.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. UBS Group lowered their price objective on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Jefferies Financial Group assumed coverage on shares of Lumentum in a research report on Friday, February 21st. They set a "buy" rating for the company.

Lumentum Price Performance

Shares of NASDAQ LITE traded up $2.60 during midday trading on Friday, reaching $78.37. The stock had a trading volume of 1,438,320 shares, compared to its average volume of 1,989,037. The stock has a 50-day moving average of $63.00 and a 200-day moving average of $75.37. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of -10.19 and a beta of 1.18. Lumentum has a 12-month low of $38.29 and a 12-month 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 for the quarter, topping analysts' consensus estimates of $0.50 by $0.07. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The firm had revenue of $425.20 million during the quarter, compared to analyst estimates of $418.18 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Lumentum's revenue for the quarter was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that Lumentum will post 0.03 EPS for the current fiscal year.

Insider Transactions at Lumentum

In related news, 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 value of $356,914.46. Following the transaction, the senior vice president now owns 31,534 shares of the company's stock, valued at $2,459,021.32. This trade represents a 12.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Yuen Wupen sold 4,716 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $76.87, for a total transaction of $362,518.92. Following the completion of the transaction, the insider now directly owns 82,957 shares in the company, valued at $6,376,904.59. This represents a 5.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,298 shares of company stock worth $1,081,764. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new position in shares of Lumentum in the 4th quarter worth approximately $646,000. Crestline Management LP acquired a new stake in Lumentum in the 4th quarter worth approximately $4,435,000. SBI Securities Co. Ltd. acquired a new stake in Lumentum in the 4th quarter worth approximately $739,000. M&T Bank Corp boosted its stake in Lumentum by 54.2% in the 4th quarter. M&T Bank Corp now owns 18,104 shares of the technology company's stock worth $1,520,000 after purchasing an additional 6,361 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake in Lumentum by 72.9% in the 4th quarter. Aigen Investment Management LP now owns 17,440 shares of the technology company's stock worth $1,464,000 after purchasing an additional 7,354 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

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 (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.