Lumentum Holdings Inc (LITE) is Reiterated by Needham to Strong Buy, Raises Price Target to $ 50

Lumentum Holdings Inc (LITE) was Reiterated by Needham to “Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $40 . Needham advised their investors in a research report released on Sep 19, 2016.

Many Wall Street Analysts have commented on Lumentum Holdings Inc. Company shares were Reiterated by Needham on Sep 19, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $40 .Lumentum Holdings Inc was Downgraded by Morgan Stanley to ” Underweight” on Aug 11, 2016. Company shares were Reiterated by Barclays on Aug 10, 2016 to “Underweight”, Firm has raised the Price Target to $ 30 from a previous price target of $23 .

On the company’s financial health, Lumentum Holdings Inc reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.36. The company had revenue of $241.70 million for the quarter, compared to analysts expectations of $238.52 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

In a different news, on Sep 6, 2016, Alan S Lowe (CEO and President) sold 23,610 shares at $35.45 per share price. According to the SEC, on Sep 1, 2016, Vincent Retort (EVP and COO) sold 8,114 shares at $32.59 per share price. On Aug 23, 2016, Aaron Tachibana (CFO) sold 6,086 shares at $34.64 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 Company’s OpComms segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems (NEMs) and both traditional and cloud/data center service providers. The Company’s 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.

Lumentum Holdings Inc

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