Brokerages Set Lumentum Holdings Inc. (NASDAQ:LITE) Price Target at $75.38

Lumentum Holdings Inc. (NASDAQ:LITE) has earned an average rating of “Hold” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $75.38.

LITE has been the subject of a number of research reports. Raymond James lifted their target price on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Northland Securities boosted their price objective on Lumentum from $45.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, November 8th. Rosenblatt Securities increased their target price on Lumentum from $69.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Morgan Stanley boosted their price target on shares of Lumentum from $76.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Finally, Barclays increased their price objective on shares of Lumentum from $40.00 to $80.00 and gave the stock an “underweight” rating in a report on Monday, November 11th.

Lumentum Trading Down 1.6 %

NASDAQ LITE opened at $84.36 on Thursday. The firm has a market capitalization of $5.80 billion, a PE ratio of -10.19 and a beta of 0.95. Lumentum has a one year low of $38.28 and a one year high of $96.25. The company has a 50-day simple moving average of $80.97 and a 200-day simple moving average of $64.19. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Insider Activity

In other news, insider Vincent Retort sold 41,710 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the sale, the insider now owns 147,515 shares in the company, valued at $13,205,542.80. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harold L. Covert sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $87.17, for a total value of $1,307,550.00. Following the transaction, the director now directly owns 8,761 shares of the company’s stock, valued at $763,696.37. This represents a 63.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,797 shares of company stock worth $8,881,428 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP boosted its holdings in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock worth $28,000 after buying an additional 201 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Lumentum during the 3rd quarter valued at $33,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Lumentum by 67.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 670 shares of the technology company’s stock worth $42,000 after acquiring an additional 270 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Lumentum during the 2nd quarter worth $36,000. Finally, GAMMA Investing LLC grew its holdings in shares of Lumentum by 141.6% in the 3rd quarter. GAMMA Investing LLC now owns 894 shares of the technology company’s stock worth $57,000 after acquiring an additional 524 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

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.