Lumentum (NASDAQ:LITE) Price Target Raised to $115.00 at Susquehanna

Lumentum (NASDAQ:LITE) had its target price lifted by Susquehanna from $80.00 to $115.00 in a research note released on Friday morning,Benzinga reports. They currently have a positive rating on the technology company’s stock.

Several other analysts have also issued reports on LITE. Barclays boosted their price objective on shares of Lumentum from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Needham & Company LLC boosted their price target on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group boosted their price target 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. JPMorgan Chase & Co. boosted their price target on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Finally, B. Riley boosted their price target on shares of Lumentum from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.15.

Lumentum Trading Up 3.4 %

Shares of LITE stock opened at $86.72 on Friday. The company’s 50-day moving average price is $63.84 and its 200-day moving average price is $54.38. The company has a current ratio of 5.90, a quick ratio of 4.43 and a debt-to-equity ratio of 2.61. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -10.47, a PEG ratio of 8.55 and a beta of 0.88. Lumentum has a twelve month low of $38.28 and a twelve month high of $89.70.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $308.30 million for the quarter, compared to analyst estimates of $301.36 million. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.43%. Lumentum’s revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. As a group, equities analysts predict that Lumentum will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LITE. Capital Performance Advisors LLP purchased a new position in Lumentum in the third quarter worth $33,000. Point72 DIFC Ltd purchased a new position in shares of Lumentum in the second quarter valued at $36,000. GAMMA Investing LLC increased its position in shares of Lumentum by 141.6% in the third quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock valued at $57,000 after buying an additional 524 shares in the last quarter. Signaturefd LLC increased its position in shares of 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 shares of 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.