Shares of Lumentum Holdings Inc (NASDAQ:LITE) have earned an average recommendation of “Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $67.65.
A number of equities research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Lumentum from $66.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, November 13th. Craig Hallum set a $65.00 price objective on Lumentum and gave the company a “buy” rating in a report on Monday, December 17th. ValuEngine downgraded Lumentum from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Loop Capital decreased their price objective on Lumentum to $47.00 and set a “buy” rating on the stock in a report on Tuesday, November 13th. Finally, Zacks Investment Research downgraded Lumentum from a “buy” rating to a “hold” rating in a report on Friday, November 16th.
NASDAQ LITE traded up $0.70 during trading on Wednesday, reaching $43.03. 940,865 shares of the company traded hands, compared to its average volume of 1,629,055. The company has a current ratio of 4.17, a quick ratio of 3.24 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.79 and a beta of 0.65. Lumentum has a 1-year low of $37.00 and a 1-year high of $74.40.
Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.15 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.67 earnings per share. On average, analysts predict that Lumentum will post 3.37 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in shares of Lumentum during the 4th quarter valued at $25,000. Oregon Public Employees Retirement Fund raised its position in shares of Lumentum by 4,834.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,206,194 shares during the last quarter. IFP Advisors Inc raised its position in shares of Lumentum by 121.7% during the 4th quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock valued at $39,000 after acquiring an additional 521 shares during the last quarter. Nisa Investment Advisors LLC raised its position 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 valued at $57,000 after acquiring an additional 559 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Lumentum by 149.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,497 shares of the technology company’s stock valued at $102,000 after acquiring an additional 897 shares during the last quarter.
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.
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