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

Lumentum Holdings Inc. (NASDAQ:LITE) has earned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $52.25.

LITE has been the topic of a number of research reports. Raymond James raised their price objective on Lumentum from $51.50 to $58.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Barclays decreased their price objective on Lumentum from $40.00 to $38.00 and set an “underweight” rating on the stock in a report on Tuesday, May 7th. Needham & Company LLC reduced their price target on Lumentum from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. StockNews.com upgraded Lumentum to a “sell” rating in a research report on Monday, May 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a $62.00 price target on shares of Lumentum in a research report on Monday, April 1st.

Institutional Investors Weigh In On Lumentum

A number of large investors have recently made changes to their positions in the business. Bridge City Capital LLC grew its position in shares of Lumentum by 0.7% in the 1st quarter. Bridge City Capital LLC now owns 32,607 shares of the technology company’s stock worth $1,544,000 after buying an additional 242 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Lumentum by 1.8% during the first quarter. Janney Montgomery Scott LLC now owns 14,587 shares of the technology company’s stock valued at $691,000 after purchasing an additional 260 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Lumentum by 0.9% during the first quarter. Texas Permanent School Fund Corp now owns 58,259 shares of the technology company’s stock valued at $2,759,000 after purchasing an additional 496 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Lumentum by 3.1% during the first quarter. State of Michigan Retirement System now owns 16,528 shares of the technology company’s stock valued at $783,000 after purchasing an additional 500 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in shares of Lumentum by 3.2% during the first quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the technology company’s stock valued at $919,000 after purchasing an additional 600 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $56.19 on Thursday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -10.70, a P/E/G ratio of 45.09 and a beta of 0.88. 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 1-year low of $35.35 and a 1-year high of $60.99. The stock’s 50-day moving average is $46.93 and its 200 day moving average is $48.56.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Monday, May 6th. The technology company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $366.50 million for the quarter, compared to analysts’ expectations of $366.53 million. Lumentum had a negative return on equity of 1.72% and a negative net margin of 24.91%. On average, sell-side analysts anticipate that Lumentum will post -0.64 EPS for the current fiscal year.

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.