ValuEngine upgraded shares of Lumentum (NASDAQ:LITE) from a sell rating to a hold rating in a report issued on Monday, February 4th.
A number of other analysts also recently issued reports on LITE. Zacks Investment Research downgraded Lumentum from a buy rating to a hold rating in a research report on Friday, November 16th. BidaskClub raised Lumentum from a hold rating to a buy rating in a research report on Friday, November 23rd. Northland Securities reissued an outperform rating and set a $60.00 price target on shares of Lumentum in a research report on Tuesday, November 13th. UBS Group lowered their price target on Lumentum from $80.00 to $53.00 and set a buy rating on the stock in a research report on Wednesday, November 14th. Finally, Barclays reaffirmed a buy rating and issued a $48.00 target price on shares of Lumentum in a research report on Tuesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $67.95.
LITE stock opened at $50.01 on Monday. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 0.94 and a beta of 0.65. Lumentum has a 1-year low of $37.00 and a 1-year high of $74.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 3.24 and a current ratio of 4.17.
Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 5th. The technology company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.15. The company had revenue of $373.70 million for the quarter, compared to analyst estimates of $365.08 million. Lumentum had a return on equity of 20.24% and a net margin of 7.50%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Analysts predict that Lumentum will post 3.37 earnings per share for the current year.
In other news, EVP Jason Reinhardt sold 9,575 shares of the stock in a transaction dated Friday, February 22nd. The shares were 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 approximately $3,218,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin A. Kaplan sold 3,025 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $48.72, for a total transaction 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 sold 15,617 shares of company stock valued at $768,579 over the last 90 days. 0.55% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. New Mexico Educational Retirement Board lifted its position in shares of Lumentum by 2.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 15,000 shares of the technology company’s stock worth $630,000 after buying an additional 300 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Lumentum by 6.4% during the 4th quarter. Brown Advisory Inc. now owns 5,033 shares of the technology company’s stock worth $212,000 after purchasing an additional 301 shares during the last quarter. LaSalle Street Capital Management LLC increased its stake in shares of Lumentum by 1.5% during the 4th quarter. LaSalle Street Capital Management LLC now owns 26,079 shares of the technology company’s stock worth $1,096,000 after purchasing an additional 373 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Lumentum by 121.7% during the 4th quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock worth $39,000 after purchasing an additional 521 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Lumentum by 70.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,349 shares of the technology company’s stock worth $57,000 after purchasing an additional 559 shares during the last quarter. 88.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: What Factors Can Affect Return on Equity?
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.