Lumentum (NASDAQ:LITE) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Lumentum (NASDAQ:LITE) had its target price increased by Stifel Nicolaus from $95.00 to $105.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley dropped 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. Northland Securities upped their target price on Lumentum from $60.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday. Rosenblatt Securities reiterated a “buy” rating and issued a $110.00 target price on shares of Lumentum in a report on Friday. Susquehanna boosted their price target on shares of Lumentum from $80.00 to $115.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $88.07.

Lumentum Trading Down 7.3 %

Shares of LITE stock opened at $85.90 on Friday. The firm has a 50 day moving average of $87.68 and a 200-day moving average of $71.49. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. Lumentum has a 52 week low of $38.28 and a 52 week high of $104.00.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.00% and a negative net margin of 36.98%. Sell-side analysts predict that Lumentum will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Lumentum news, CAO Matthew Joseph Sepe sold 8,172 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total value of $715,867.20. Following the completion of the transaction, the chief accounting officer now owns 21,138 shares in the company, valued at $1,851,688.80. This represents a 27.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent Retort sold 41,710 shares of Lumentum 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 sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 101,797 shares of company stock valued at $8,881,428 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumentum

A number of large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. grew its position in shares of Lumentum by 301.2% during the 4th quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after acquiring an additional 253 shares during the period. Jones Financial Companies Lllp lifted its stake in Lumentum by 54.2% in the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Quarry LP grew its holdings in Lumentum by 85.5% during the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares during the period. J.Safra Asset Management Corp increased its position in Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock worth $43,000 after buying an additional 122 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lumentum in the third quarter valued at $33,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.