Lumentum Holdings (LITE) Getting Somewhat Critical Press Coverage, Report Finds
Media headlines about Lumentum Holdings (NASDAQ:LITE) have been trending somewhat negative on Saturday, according to Alpha One. The research group, a unit of Accern, scores the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Lumentum Holdings earned a news sentiment score of -0.02 on Alpha One’s scale. Alpha One also gave media stories about the technology company an impact score of 0 out of 100, indicating that recent media coverage is extremely unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news articles that may have effected Alpha One Sentiment Analysis’s rankings:
- Lumentum Holdings Inc. (LITE) Receives Average Rating of “Buy” from Brokerages (americanbankingnews.com)
- $0.21 Earnings Per Share Expected for Lumentum Holdings Inc. (LITE) This Quarter (americanbankingnews.com)
- Stock Performance Review on Communication Equipment Industry — Infinera … (prnewswire.com)
- Comparable Company Analysis: Tailored Brands, Inc. (NYSE:TLRD), Lumentum Holdings Inc. ((NASDAQ:LITE) – AllStockNews (allstocknews.com)
- Lumentum Holdings Inc (LITE) Ichimoku Levels Indicate Solid Momentum – Evergreen Caller (evergreencaller.com)
Several equities research analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Lumentum Holdings from $56.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Monday, June 12th. Zacks Investment Research lowered shares of Lumentum Holdings from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 23rd. Rosenblatt Securities assumed coverage on shares of Lumentum Holdings in a research note on Tuesday, May 23rd. They set a “buy” rating and a $66.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Lumentum Holdings from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $62.00 price objective on shares of Lumentum Holdings in a research note on Monday, May 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.33.
Shares of Lumentum Holdings (LITE) opened at 63.10 on Friday. The firm has a 50 day moving average of $55.27 and a 200 day moving average of $46.55. Lumentum Holdings has a 52 week low of $22.04 and a 52 week high of $67.30. The firm’s market cap is $3.86 billion.
Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.12. Lumentum Holdings had a negative net margin of 3.28% and a positive return on equity of 19.55%. The firm had revenue of $255.80 million during the quarter, compared to the consensus estimate of $257.22 million. During the same period last year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts predict that Lumentum Holdings will post $1.90 earnings per share for the current fiscal year.
In other Lumentum Holdings news, COO Vincent Retort sold 2,029 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $54.26, for a total value of $110,093.54. Following the completion of the transaction, the chief operating officer now directly owns 68,448 shares of the company’s stock, valued at $3,713,988.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aaron Tachibana sold 1,521 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $54.40, for a total transaction of $82,742.40. Following the completion of the transaction, the chief financial officer now directly owns 45,495 shares of the company’s stock, valued at $2,474,928. The disclosure for this sale can be found here. Insiders have sold a total of 11,813 shares of company stock valued at $648,776 over the last three months. 0.76% of the stock is currently owned by insiders.
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About Lumentum Holdings
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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