Lumentum Holdings Inc. (NASDAQ:LITE) Given New $65.00 Price Target at Barclays PLC

Lumentum Holdings Inc. (NASDAQ:LITE) had its price target upped by Barclays PLC from $59.00 to $65.00 in a report published on Thursday, November 2nd. The brokerage currently has an equal weight rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on LITE. Stifel Nicolaus reissued a buy rating and issued a $73.00 target price on shares of Lumentum Holdings in a research note on Thursday, September 7th. Zacks Investment Research downgraded shares of Lumentum Holdings from a buy rating to a hold rating in a research note on Wednesday, October 25th. DA Davidson increased their target price on shares of Lumentum Holdings from $82.00 to $90.00 and gave the company a buy rating in a research note on Thursday, November 2nd. MKM Partners upped their price target on shares of Lumentum Holdings to $71.00 and gave the stock a neutral rating in a report on Thursday, November 2nd. Finally, Rosenblatt Securities set a $75.00 price target on shares of Lumentum Holdings and gave the stock a buy rating in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $68.06.

Shares of Lumentum Holdings (NASDAQ LITE) opened at $59.32 on Thursday. The stock has a market cap of $3,592.90, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21. Lumentum Holdings has a 12 month low of $34.15 and a 12 month high of $68.63.

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In related news, CEO Alan S. Lowe sold 4,364 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total value of $238,230.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Vincent Retort sold 30,706 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the completion of the transaction, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at $6,032,534.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,643 shares of company stock valued at $3,435,462. Insiders own 0.76% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. raised its position in shares of Lumentum Holdings by 0.4% in the 2nd quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after purchasing an additional 37 shares during the last quarter. LS Investment Advisors LLC raised its position in Lumentum Holdings by 2.1% during the 2nd quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock worth $204,000 after buying an additional 75 shares during the last quarter. Arizona State Retirement System raised its position in Lumentum Holdings by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock worth $1,658,000 after buying an additional 200 shares during the last quarter. Stifel Financial Corp raised its position in Lumentum Holdings by 6.6% during the 2nd quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock worth $415,000 after buying an additional 447 shares during the last quarter. Finally, Texas Permanent School Fund raised its position in Lumentum Holdings by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock worth $2,318,000 after buying an additional 468 shares during the last quarter. 95.69% of the stock is owned by hedge funds and other institutional investors.

Lumentum Holdings Company Profile

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).

Analyst Recommendations for Lumentum Holdings (NASDAQ:LITE)

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