Latest Stocks: Lumentum Holdings’ (LITE) Buy Rating Reaffirmed at Jefferies Group LLC

Latest Stocks: Lumentum Holdings’ (LITE) Buy Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Lumentum Holdings Inc (NASDAQ:LITE) in a research report report published on Monday, May 15th, StockTargetPrices.com reports. They currently have a $62.00 target price on the technology company’s stock.

A number of other research analysts also recently commented on LITE. B. Riley reaffirmed a buy rating and set a $53.50 price objective on shares of Lumentum Holdings in a research note on Wednesday, February 8th. Barclays PLC increased their target price on shares of Lumentum Holdings from $32.00 to $35.00 and gave the stock an underweight rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. reissued an overweight rating on shares of Lumentum Holdings in a research report on Wednesday, February 8th. Needham & Company LLC reissued a strong-buy rating on shares of Lumentum Holdings in a research report on Wednesday, February 8th. Finally, Stifel Nicolaus reissued a buy rating and set a $57.50 target price (up previously from $45.00) on shares of Lumentum Holdings in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $52.33.

Shares of Lumentum Holdings (NASDAQ LITE) opened at 57.80 on Monday. Lumentum Holdings has a 12-month low of $22.04 and a 12-month high of $59.25. The company’s market capitalization is $3.53 billion. The stock has a 50 day moving average of $50.76 and a 200-day moving average of $45.25. Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.12. Lumentum Holdings had a net margin of 1.50% and a return on equity of 17.24%. The company had revenue of $255.80 million during the quarter, compared to the consensus estimate of $257.22 million. During the same quarter in the prior year, the company posted $0.32 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Lumentum Holdings will post $1.90 EPS for the current year.

Shares of Lumentum Holdings (NASDAQ LITE) opened at 57.80 on Monday. Lumentum Holdings has a 12-month low of $22.04 and a 12-month high of $59.25. The company’s market capitalization is $3.53 billion. The stock has a 50 day moving average of $50.76 and a 200-day moving average of $45.25. In other news, CEO Alan S. Lowe sold 1,085 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $58.15, for a total transaction of $63,092.75. Following the completion of the transaction, the chief executive officer now directly owns 143,447 shares in the company, valued at approximately $8,341,443.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Alan S. Lowe sold 5,954 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $54.29, for a total value of $323,242.66. Following the transaction, the chief executive officer now owns 153,439 shares of the company’s stock, valued at $8,330,203.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,813 shares of company stock valued at $648,776. Company insiders own 0.76% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Strs Ohio boosted its position in shares of Lumentum Holdings by 72.6% in the third quarter. Strs Ohio now owns 29,000 shares of the technology company’s stock valued at $1,211,000 after buying an additional 12,200 shares during the period. Tocqueville Asset Management L.P. purchased a new position in shares of Lumentum Holdings during the third quarter valued at about $773,000. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Lumentum Holdings by 110,915.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,070,429 shares of the technology company’s stock valued at $86,482,000 after buying an additional 2,068,564 shares during the period. Capital Management Associates NY purchased a new position in shares of Lumentum Holdings during the third quarter valued at about $313,000. Finally, Essex Investment Management Co. LLC boosted its position in shares of Lumentum Holdings by 35.8% in the third quarter. Essex Investment Management Co. LLC now owns 47,781 shares of the technology company’s stock valued at $1,996,000 after buying an additional 12,602 shares during the period. Hedge funds and other institutional investors own 84.16% of the company’s stock. About Lumentum Holdings

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