Lumentum (NASDAQ:LITE – Free Report) had its price target raised by Needham & Company LLC from $65.00 to $70.00 in a research note published on Thursday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.
Several other equities analysts have also issued reports on the stock. Susquehanna lifted their price objective on shares of Lumentum from $60.00 to $70.00 and gave the company a positive rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $57.00 to $65.00 and gave the company an overweight rating in a report on Monday, August 12th. B. Riley cut their price objective on shares of Lumentum from $41.00 to $40.00 and set a neutral rating on the stock in a report on Tuesday, May 7th. StockNews.com upgraded shares of Lumentum to a sell rating in a research note on Monday, May 6th. Finally, Barclays lowered their target price on shares of Lumentum from $40.00 to $38.00 and set an underweight rating for the company in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $58.36.
View Our Latest Report on LITE
Lumentum Stock Performance
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in LITE. Point72 DIFC Ltd purchased a new position in shares of Lumentum during the second quarter worth $36,000. CENTRAL TRUST Co increased its holdings in Lumentum by 714.3% in the first quarter. CENTRAL TRUST Co now owns 1,140 shares of the technology company’s stock valued at $54,000 after buying an additional 1,000 shares in the last quarter. Principal Securities Inc. purchased a new position in Lumentum in the fourth quarter valued at $55,000. Signaturefd LLC increased its holdings in Lumentum by 93.9% in the second quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock valued at $58,000 after buying an additional 554 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Lumentum in the first quarter valued at $112,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.
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 (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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