Lumentum Holdings Inc (LITE) was Upgraded by Needham to ” Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $35 . Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Jul 25, 2016.
Many Wall Street Analysts have commented on Lumentum Holdings Inc. Company shares were Reiterated by MKM Partners on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $28 .Lumentum Holdings Inc was Upgraded by Raymond James to ” Outperform” on May 31, 2016. Lumentum Holdings Inc was Upgraded by JP Morgan to ” Overweight” on May 5, 2016.
On the company’s financial health, Lumentum Holdings Inc reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.28. The company had revenue of $218.30 million for the quarter, compared to analysts expectations of $218.14 million. The company’s revenue was up 3.7% compared to the same quarter last year.
In a different news, on May 27, 2016, Judy G Hamel (General Counsel & Secretary) sold 492 shares at $23.98 per share price. According to the SEC, on May 13, 2016, Harold L Covert (director) sold 7,376 shares at $23.70 per share price. On Mar 4, 2016, Vincent Retort (EVP and COO) sold 5,926 shares at $25.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Lumentum Holdings Inc. (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets including data communications (Datacom) and telecommunications (Telecom) networking and industrial and commercial lasers (commercial lasers) for manufacturing inspection and life-sciences applications. The Company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Companys OpComms segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems (NEMs) and both traditional and cloud/data center service providers. The Companys Lasers segment products serve its customers in markets and applications such as manufacturing biotechnology graphics and imaging remote sensing and precision machining such as drilling in printed circuit boards wafer singulation and solar cell scribing.