JPMorgan Chase & Co. Analysts Give Lumentum (LITE) a $80.00 Price Target

JPMorgan Chase & Co. set a $80.00 price target on Lumentum (NASDAQ:LITE) in a report issued on Thursday. The firm currently has a hold rating on the technology company’s stock.

LITE has been the topic of several other research reports. BidaskClub cut Lumentum from a buy rating to a hold rating in a research report on Wednesday, May 23rd. Zacks Investment Research lowered Lumentum from a buy rating to a hold rating in a research note on Tuesday, May 8th. TheStreet lowered Lumentum from a b+ rating to a c rating in a research note on Friday, May 4th. Morgan Stanley lifted their price objective on Lumentum from $60.00 to $66.00 and gave the stock a hold rating in a research report on Wednesday, April 11th. Finally, Rosenblatt Securities restated a buy rating and set a $80.00 price objective on shares of Lumentum in a research report on Tuesday, June 5th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $79.42.

Lumentum traded up $0.15, reaching $58.60, during midday trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 1,755,382 shares, compared to its average volume of 2,206,775. Lumentum has a fifty-two week low of $41.95 and a fifty-two week high of $74.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 5.27 and a quick ratio of 4.81. The stock has a market cap of $3.66 billion, a PE ratio of 18.09, a P/E/G ratio of 0.93 and a beta of -0.06.



Lumentum (NASDAQ:LITE) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.30. Lumentum had a return on equity of 25.10% and a net margin of 19.86%. The business had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $288.56 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 35.2% compared to the same quarter last year. research analysts expect that Lumentum will post 3.41 earnings per share for the current fiscal year.

In other news, insider Matthew Joseph Sepe sold 1,466 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $58.38, for a total transaction of $85,585.08. Following the completion of the sale, the insider now directly owns 17,898 shares in the company, valued at approximately $1,044,885.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alan S. Lowe sold 12,783 shares of the company’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $63.50, for a total value of $811,720.50. Following the sale, the chief executive officer now owns 227,326 shares of the company’s stock, valued at $14,435,201. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,906 shares of company stock valued at $1,949,063. Insiders own 0.76% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of Lumentum by 10.9% during the first quarter. Thrivent Financial for Lutherans now owns 41,998 shares of the technology company’s stock worth $2,679,000 after buying an additional 4,142 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in shares of Lumentum in the second quarter valued at approximately $110,000. Millennium Management LLC boosted its holdings in shares of Lumentum by 109.2% in the first quarter. Millennium Management LLC now owns 56,100 shares of the technology company’s stock valued at $3,579,000 after buying an additional 29,283 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Lumentum by 18.1% in the first quarter. Prudential Financial Inc. now owns 120,878 shares of the technology company’s stock valued at $7,712,000 after buying an additional 18,514 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in shares of Lumentum by 94.6% in the first quarter. Suntrust Banks Inc. now owns 9,574 shares of the technology company’s stock valued at $610,000 after buying an additional 4,655 shares during the period.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Analyst Recommendations for Lumentum (NASDAQ:LITE)

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