Lumentum Holdings Inc. (NASDAQ:LITE) had its price objective increased by MKM Partners to $71.00 in a report issued on Thursday, November 2nd. The brokerage currently has a neutral rating on the technology company’s stock.
A number of other equities research analysts also recently commented on the company. Stifel Nicolaus reiterated a buy rating and issued a $73.00 price objective on shares of Lumentum Holdings in a report on Thursday, September 7th. Zacks Investment Research downgraded Lumentum Holdings from a buy rating to a hold rating in a report on Wednesday, October 25th. Rosenblatt Securities set a $75.00 price target on Lumentum Holdings and gave the stock a buy rating in a report on Tuesday, October 24th. BidaskClub upgraded Lumentum Holdings from a sell rating to a hold rating in a report on Saturday, August 26th. Finally, DA Davidson increased their price objective on Lumentum Holdings from $82.00 to $90.00 and gave the stock a buy rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. Lumentum Holdings has an average rating of Buy and an average price target of $68.06.
Shares of Lumentum Holdings (LITE) traded down $1.85 on Thursday, hitting $55.80. The stock had a trading volume of 1,351,300 shares, compared to its average volume of 1,821,756. The firm has a market capitalization of $3,574.30, a price-to-earnings ratio of 40.31, a PEG ratio of 1.05 and a beta of 1.03. The company has a quick ratio of 4.38, a current ratio of 5.21 and a debt-to-equity ratio of 0.50. Lumentum Holdings has a twelve month low of $34.15 and a twelve month high of $68.63.
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In other Lumentum Holdings news, CEO Alan S. Lowe sold 4,364 shares of Lumentum Holdings stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $54.59, for a total transaction of $238,230.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martin A. Kaplan sold 15,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $57.07, for a total value of $856,050.00. Following the completion of the transaction, the director now directly owns 29,573 shares in the company, valued at $1,687,731.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,956 shares of company stock worth $5,388,935. Corporate insiders own 0.76% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC increased its position in Lumentum Holdings by 71.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock valued at $118,000 after buying an additional 862 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Lumentum Holdings by 111.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock worth $152,000 after buying an additional 1,406 shares during the last quarter. Creative Planning boosted its stake in shares of Lumentum Holdings by 54.2% in the 2nd quarter. Creative Planning now owns 3,039 shares of the technology company’s stock worth $173,000 after buying an additional 1,068 shares during the last quarter. LS Investment Advisors LLC lifted its stake in Lumentum Holdings by 2.1% in the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the last quarter. Finally, World Asset Management Inc purchased a new position in Lumentum Holdings in the second quarter valued at approximately $211,000. 95.69% of the stock is owned by institutional investors and hedge funds.
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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