Lumentum’s (LITE) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Lumentum (NASDAQ:LITE) in a research report sent to investors on Friday morning,Benzinga reports. Rosenblatt Securities currently has a $110.00 price target on the technology company’s stock.

A number of other equities research analysts have also weighed in on LITE. Susquehanna lifted their price objective on Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a report on Friday, November 8th. Morgan Stanley decreased their price target on Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Barclays upgraded Lumentum from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $80.00 to $125.00 in a research report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Lumentum in a research report on Thursday, January 9th. Finally, Raymond James upped their price target on shares of Lumentum from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $88.07.

Lumentum Stock Performance

Lumentum stock opened at $85.90 on Friday. The business has a 50 day simple moving average of $87.68 and a 200-day simple moving average of $71.49. Lumentum has a 12 month low of $38.28 and a 12 month high of $104.00. The company has a debt-to-equity ratio of 2.87, a quick ratio of 4.04 and a current ratio of 5.36.

Lumentum (NASDAQ:LITE) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. Equities research analysts anticipate that Lumentum will post -0.04 EPS for the current year.

Insider Transactions at Lumentum

In other news, insider Vincent Retort sold 41,710 shares of Lumentum stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the completion of the sale, the insider now directly owns 147,515 shares in the company, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Sepe sold 8,172 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $87.60, for a total transaction of $715,867.20. Following the transaction, the chief accounting officer now directly owns 21,138 shares in the company, valued at $1,851,688.80. The trade was a 27.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,797 shares of company stock valued at $8,881,428 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UMB Bank n.a. boosted its holdings in shares of Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after purchasing an additional 253 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Lumentum by 54.2% in the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares during the last quarter. Quarry LP grew its holdings in Lumentum by 85.5% in the 3rd quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after buying an additional 201 shares during the period. J.Safra Asset Management Corp increased its stake in shares of Lumentum by 31.1% during the 4th quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock valued at $43,000 after acquiring an additional 122 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Lumentum during the 3rd quarter valued at about $33,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Lumentum

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.