News headlines about Lumentum (NASDAQ:LITE) have trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Lumentum earned a news impact score of 0.10 on Accern’s scale. Accern also gave press coverage about the technology company an impact score of 47.9407294175085 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the media headlines that may have impacted Accern’s analysis:
- DA Davidson Equities Analysts Lower Earnings Estimates for Lumentum Holdings Inc (LITE) (americanbankingnews.com)
- Lumentum Holdings Inc (LITE) Expected to Post Q1 2019 Earnings of $0.83 Per Share (americanbankingnews.com)
- Q1 2019 EPS Estimates for Lumentum Holdings Inc (LITE) Raised by B. Riley (americanbankingnews.com)
- Lumentum: Turning A BAD BEAT Into A Winning Hand (seekingalpha.com)
- Lumentum (LITE) PT Raised to $98.00 (americanbankingnews.com)
Shares of LITE stock opened at $59.60 on Wednesday. Lumentum has a 12 month low of $41.95 and a 12 month high of $74.40. The company has a current ratio of 5.27, a quick ratio of 4.55 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 0.96 and a beta of -0.06.
Several research firms recently weighed in on LITE. Barclays lifted their target price on shares of Lumentum from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. TheStreet upgraded shares of Lumentum from a “c” rating to a “b” rating in a report on Thursday, August 9th. Craig Hallum set a $85.00 target price on shares of Lumentum and gave the company a “buy” rating in a report on Wednesday, August 8th. ValuEngine upgraded shares of Lumentum from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $85.00 price objective on shares of Lumentum in a report on Wednesday, August 8th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $79.42.
In other news, CEO Alan S. Lowe sold 12,783 shares of the business’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $63.50, for a total value of $811,720.50. Following the completion of the sale, the chief executive officer now owns 227,326 shares of the company’s stock, valued at approximately $14,435,201. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Tachibana sold 1,697 shares of the business’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $63.40, for a total transaction of $107,589.80. The disclosure for this sale can be found here. Insiders sold a total of 29,750 shares of company stock worth $1,875,553 in the last quarter. 0.76% of the stock is currently owned by company insiders.
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It 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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