On August 19, 2023, investment analysts at UBS Group raised their price objective for Lumentum (NASDAQ:LITE) from $48.00 to $49.00 in a research report, according to Benzinga. The current “neutral” rating on the technology company’s stock remains unchanged. With this new price target, there is a potential upside of 6.06% from the stock’s current price.
LITE stock opened at $46.20 on Friday and has a current ratio of 3.20, indicating that the company possesses enough assets to cover its liabilities in the short term. Its quick ratio stands at 2.67, demonstrating its ability to meet immediate financial obligations without relying on inventory sales. Additionally, Lumentum holds a debt-to-equity ratio of 1.24.
Over the past fifty days, LITE has had an average closing price of $53.59 with a 200-day moving average of $52.24. As of now, the company’s market capitalization is evaluated at $3.17 billion with a P/E ratio of -84.00 and a PEG ratio of 4.19.
Lumentum Holdings Inc primarily operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment specializes in manufacturing components, modules, and subsystems that enable the transmission and transport of video, audio, and data through high-capacity fiber optic cables.
The product offerings within this segment include tunable transponders, transceivers, transmitter modules, tunable lasers, receivers, modulators, as well as transport products like reconfigurable optical add/drop multiplexers and amplifiers. It also supplies various components such as pumps (980nm pumps), photodetectors, switches, attenuators, isolators, multiplex/de-multiplexers along with other integrated passive modules.
Lumentum aims to deliver solutions for the growing demand in optical and photonic products throughout Americas, the Asia-Pacific region, Europe, the Middle East, and Africa. By providing these critical components and modules, Lumentum plays a pivotal role in facilitating efficient communication networks worldwide.
In conclusion, investment analysts at UBS Group have revised Lumentum’s price objective upward from $48.00 to $49.00 while maintaining a “neutral” rating on the stock. With its presence in the Optical Communications and Commercial Lasers sectors, Lumentum continues to contribute significantly to advancements in global communication technology.
Lumentum Holdings Inc.
LITE
Buy
Updated on: 21/08/2023
Mixed Reviews for Lumentum Holdings Inc: Analysts and Insiders Weigh In
Lumentum Holdings Inc, a manufacturer and seller of optical and photonic products, has recently received mixed reviews from equities analysts. Several analysts have issued reports on Lumentum, providing varying outlooks on the company’s performance.
Raymond James, in a research note, decreased their price objective on Lumentum shares from $64.00 to $51.50. However, they maintained an “outperform” rating for the company. StockNews.com initiated coverage on Lumentum and issued a “hold” rating. Bank of America downgraded Lumentum from a “neutral” rating to an “underperform” rating and set a price target of $50.00. B. Riley also reduced their target price on the stock from $46.00 to $45.00.
In contrast, Susquehanna upped their target price on Lumentum from $55.00 to $60.00 and gave the company a “positive” rating in their report.
Overall, two investment analysts have rated the stock as a sell, while six have given it a hold rating and six have issued a buy rating. As per Bloomberg data, Lumentum currently holds a consensus rating of “Hold” with an average price target of $54.90.
Operating in two segments – Optical Communications (OpComms) and Commercial Lasers (Lasers) – Lumentum offers components, modules, and subsystems that facilitate the transmission and transport of video, audio, and data over high-capacity fiber optic cables.
Their OpComms segment provides various products including tunable transponders, transceivers, transmitter modules, lasers, receivers, modulators, amplifiers, optical channel monitors, and more.
In recent news related to Lumentum Holdings Inc., Chief Financial Officer Wajid Ali sold 6,872 shares of the stock in June 2023 at an average price of $60.50 per share, amounting to a total value of $415,756.00. Following this transaction, Ali now owns 35,629 shares valued at $2,155,554.50.
Additionally, notable changes in Lumentum’s ownership have been observed among large investors. HighTower Advisors LLC grew its holdings in the company by 6.7% during the first quarter and now owns 5,729 shares of the stock. Private Advisor Group LLC increased its position in Lumentum by 23.3% during the same period and currently holds 5,083 shares.
Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake by 10.4% and now owns 26,461 shares of Lumentum’s stock. Great West Life Assurance Co. Can also lifted its holdings by 7.4%, owning 39,147 shares after purchasing an additional 2,686 shares.
Lastly, Dimensional Fund Advisors LP boosted its stake in Lumentum by 7.2% during the first quarter and now holds 805,662 shares.
These recent developments indicate varying opinions on Lumentum’s future performance and financial prospects as provided by equity analysts and insiders’ transactions.
