Shares of Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) have received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $60.00.
A number of brokerages have recently issued reports on LITE. JPMorgan Chase & Co. boosted their target price on Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Raymond James upped their price objective on shares of Lumentum from $55.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Bank of America raised their target price on shares of Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Thursday, August 15th. Northland Securities boosted their price target on shares of Lumentum from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Friday, August 16th. Finally, Jefferies Financial Group raised their price objective on shares of Lumentum from $53.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th.
Check Out Our Latest Research Report on Lumentum
Institutional Trading of Lumentum
Lumentum Stock Performance
NASDAQ:LITE opened at $66.23 on Friday. The company has a 50-day moving average of $59.13 and a 200-day moving average of $51.51. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of -12.62, a price-to-earnings-growth ratio of 5.78 and a beta of 0.89. The company has a current ratio of 5.90, a quick ratio of 4.43 and a debt-to-equity ratio of 2.61. Lumentum has a twelve month low of $35.35 and a twelve month high of $71.07.
Lumentum (NASDAQ:LITE – Get Free Report) last issued its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. Lumentum had a negative net margin of 40.21% and a negative return on equity of 4.79%. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Analysts forecast that Lumentum will post 0.2 earnings per share for the current fiscal year.
About Lumentum
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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