Lumentum Holdings Inc. (NASDAQ:LITE)‘s stock had its “hold” rating reissued by research analysts at Barclays PLC in a research report issued on Friday, July 14th.
A number of other equities analysts have also recently issued reports on LITE. Goldman Sachs Group, Inc. (The) upgraded Lumentum Holdings from a “sell” rating to a “neutral” rating and raised their target price for the stock from $38.00 to $45.00 in a report on Thursday, March 16th. Zacks Investment Research cut Lumentum Holdings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub upgraded Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Jefferies Group LLC restated a “buy” rating and set a $62.00 target price on shares of Lumentum Holdings in a report on Monday, May 15th. Finally, Raymond James Financial, Inc. restated a “buy” rating on shares of Lumentum Holdings in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Lumentum Holdings has a consensus rating of “Buy” and an average target price of $59.64.
Lumentum Holdings (LITE) opened at 59.25 on Friday. Lumentum Holdings has a 12-month low of $30.17 and a 12-month high of $68.63. The firm’s 50-day moving average is $61.76 and its 200 day moving average is $51.93. The stock’s market capitalization is $3.62 billion.
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In other Lumentum Holdings news, CEO Alan S. Lowe sold 5,954 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $54.29, for a total transaction of $323,242.66. Following the transaction, the chief executive officer now owns 153,439 shares of the company’s stock, valued at approximately $8,330,203.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan S. Lowe sold 1,085 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total value of $63,092.75. Following the transaction, the chief executive officer now directly owns 143,447 shares in the company, valued at approximately $8,341,443.05. The disclosure for this sale can be found here. In the last three months, insiders sold 11,813 shares of company stock worth $648,776. 0.76% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in Lumentum Holdings by 3.9% in the first quarter. State of Alaska Department of Revenue now owns 6,150 shares of the technology company’s stock valued at $328,000 after buying an additional 230 shares during the period. Myriad Asset Management Ltd. acquired a new position in shares of Lumentum Holdings during the first quarter valued at approximately $8,853,000. AQR Capital Management LLC increased its position in shares of Lumentum Holdings by 68.1% in the fourth quarter. AQR Capital Management LLC now owns 144,751 shares of the technology company’s stock valued at $5,595,000 after buying an additional 58,646 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Lumentum Holdings by 7.8% in the first quarter. Great West Life Assurance Co. Can now owns 76,101 shares of the technology company’s stock valued at $4,055,000 after buying an additional 5,507 shares in the last quarter. Finally, Lebenthal Lisanti Capital Growth LLC increased its position in shares of Lumentum Holdings by 195.4% in the second quarter. Lebenthal Lisanti Capital Growth LLC now owns 36,345 shares of the technology company’s stock valued at $2,073,000 after buying an additional 24,040 shares in the last quarter. 95.06% of the stock is currently owned by hedge funds and other institutional investors.
About Lumentum Holdings
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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