Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Rating of “Hold” by Brokerages

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $53.08.

A number of equities research analysts have recently weighed in on LITE shares. JPMorgan Chase & Co. dropped their price objective on shares of Lumentum from $62.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Susquehanna boosted their price objective on shares of Lumentum from $60.00 to $70.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. B. Riley dropped their price objective on shares of Lumentum from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Barclays dropped their price objective on shares of Lumentum from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, May 7th. Finally, StockNews.com raised shares of Lumentum to a “sell” rating in a report on Monday, May 6th.

Lumentum Price Performance

NASDAQ LITE opened at $44.33 on Monday. The firm’s fifty day simple moving average is $50.41 and its two-hundred day simple moving average is $48.83. The company has a current ratio of 5.20, a quick ratio of 3.87 and a debt-to-equity ratio of 2.13. Lumentum has a 12-month low of $35.35 and a 12-month high of $60.99. The firm has a market capitalization of $3.00 billion, a P/E ratio of -8.44, a P/E/G ratio of 39.11 and a beta of 0.88.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Monday, May 6th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). Lumentum had a negative net margin of 24.91% and a negative return on equity of 1.72%. The business had revenue of $366.50 million for the quarter, compared to analyst estimates of $366.53 million. Analysts forecast that Lumentum will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hodges Capital Management Inc. acquired a new position in shares of Lumentum in the second quarter worth about $5,642,000. Whalen Wealth Management Inc. acquired a new position in shares of Lumentum in the second quarter worth about $484,000. Versor Investments LP acquired a new position in shares of Lumentum in the second quarter worth about $631,000. Natixis Advisors LLC raised its position in shares of Lumentum by 4.1% in the second quarter. Natixis Advisors LLC now owns 14,918 shares of the technology company’s stock worth $760,000 after acquiring an additional 583 shares during the period. Finally, nVerses Capital LLC raised its position in shares of Lumentum by 416.7% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the technology company’s stock worth $158,000 after acquiring an additional 2,500 shares during the period. Institutional investors and hedge funds 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.