Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $52.00, but opened at $50.27. Lumentum shares last traded at $49.86, with a volume of 73,535 shares.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price objective on Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and issued a $110.00 price target on shares of Lumentum in a research report on Friday, February 7th. Morgan Stanley cut their price objective on shares of Lumentum from $83.00 to $81.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Barclays reduced their price objective on shares of Lumentum from $125.00 to $70.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, BNP Paribas upgraded Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 target price on the stock in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.60.
Check Out Our Latest Stock Analysis on LITE
Lumentum Stock Performance
The business has a 50 day moving average price of $61.91 and a two-hundred day moving average price of $74.99. The stock has a market cap of $4.15 billion, a P/E ratio of -7.80 and a beta of 1.14. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94.
Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Wajid Ali sold 2,172 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the completion of the sale, the chief financial officer now owns 51,976 shares in the company, valued at approximately $4,071,799.84. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company's stock valued at $28,000 after buying an additional 253 shares during the period. Rakuten Securities Inc. increased its position in shares of Lumentum by 164.4% during the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after purchasing an additional 296 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company's stock worth $31,000 after acquiring an additional 130 shares in the last quarter. Golden State Wealth Management LLC grew its position in Lumentum by 103.2% during 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 last quarter. Finally, CoreCap Advisors LLC grew its holdings in shares of Lumentum by 2,235.3% during the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after buying an additional 380 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
About Lumentum
(
Get Free Report)
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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