Lumentum (LITE) Downgraded by BidaskClub

BidaskClub cut shares of Lumentum (NASDAQ:LITE) from a strong-buy rating to a buy rating in a report published on Saturday.

A number of other analysts have also recently commented on the stock. Needham & Company LLC upped their price objective on shares of Lumentum from $80.00 to $90.00 and gave the company a strong-buy rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. ValuEngine upgraded shares of Lumentum from a hold rating to a buy rating in a research report on Tuesday, August 28th. DA Davidson upped their price objective on shares of Lumentum from $92.00 to $98.00 and gave the company a buy rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. upgraded shares of Lumentum from a neutral rating to an overweight rating and set a $80.00 price objective for the company in a research report on Thursday, October 11th. Finally, MKM Partners lowered their price objective on shares of Lumentum to $78.00 and set a buy rating for the company in a research report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $79.75.

LITE stock opened at $53.04 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.55 and a current ratio of 5.27. The firm has a market capitalization of $3.52 billion, a PE ratio of 16.37, a P/E/G ratio of 0.83 and a beta of 0.19. Lumentum has a twelve month low of $41.95 and a twelve month high of $74.40.



Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.30. Lumentum had a net margin of 19.86% and a return on equity of 25.10%. The business had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $288.56 million. During the same quarter in the prior year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. On average, analysts expect that Lumentum will post 3.71 earnings per share for the current fiscal year.

In other Lumentum news, CFO Christopher W. Coldren sold 3,416 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $64.36, for a total transaction of $219,853.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Joseph Sepe sold 2,000 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $64.91, for a total value of $129,820.00. Following the transaction, the insider now owns 15,332 shares of the company’s stock, valued at approximately $995,200.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,224 shares of company stock valued at $584,653. Corporate insiders own 0.55% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LITE. Fortaleza Asset Management Inc. bought a new position in Lumentum during the 2nd quarter worth about $110,000. Mount Yale Investment Advisors LLC bought a new position in shares of Lumentum in the 1st quarter valued at about $121,000. Cerebellum GP LLC bought a new position in shares of Lumentum in the 2nd quarter valued at about $184,000. FNY Investment Advisers LLC bought a new position in shares of Lumentum in the 2nd quarter valued at about $190,000. Finally, LS Investment Advisors LLC grew its holdings in shares of Lumentum by 95.1% in the 2nd quarter. LS Investment Advisors LLC now owns 3,596 shares of the technology company’s stock valued at $208,000 after acquiring an additional 1,753 shares in the last quarter.

Lumentum Company Profile

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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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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