Lumentum (NASDAQ:LITE – Get Free Report) had its target price lifted by research analysts at JPMorgan Chase & Co. from $57.00 to $65.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 44.51% from the company’s current price.
A number of other analysts have also weighed in on LITE. Needham & Company LLC reduced their price objective on shares of Lumentum from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Susquehanna increased their price target on Lumentum from $60.00 to $70.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Barclays dropped their price objective on Lumentum from $40.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, May 7th. StockNews.com upgraded Lumentum to a “sell” rating in a research note on Monday, May 6th. Finally, B. Riley decreased their target price on Lumentum from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of “Hold” and an average price target of $53.75.
Read Our Latest Stock Analysis on Lumentum
Lumentum Trading Up 4.0 %
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. CENTRAL TRUST Co boosted its stake in shares of Lumentum by 714.3% during the first quarter. CENTRAL TRUST Co now owns 1,140 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,000 shares in the last quarter. Principal Securities Inc. bought a new stake in Lumentum during the 4th quarter valued at $55,000. Signaturefd LLC boosted its position in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock valued at $58,000 after acquiring an additional 554 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Lumentum in the 1st quarter valued at $112,000. Finally, nVerses Capital LLC raised its position in shares of Lumentum by 416.7% in the 2nd 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 in the last quarter. 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.
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