Barclays analyst Blayne Curtis maintained a Buy rating on Lumentum Holdings (LITE) yesterday and set a price target of $52. The company’s shares closed yesterday at $46.
According to TipRanks.com, Curtis is a 5-star analyst with an average return of 8.3% and a 58.2% success rate. Curtis covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Smart Global Holdings Inc, and Quantenna Communications.
Lumentum Holdings has an analyst consensus of Strong Buy, with a price target consensus of $62.62, which is a 36.1% upside from current levels. In a report issued on January 3, Raymond James also maintained a Buy rating on the stock with a $85 price target.
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Based on Lumentum Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $47.4 million. In comparison, last year the company had a net profit of $205 million.
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Lumentum Holdings, Inc. engages in the manufacture of optical and photonic products enabling optical networking and commercial laser. It operates through the Optical Communications (OpComms) and Commercial Lasers business segments. The OpComms segment includes modules and subsystems to support and maintain customers in the Telecom and Datacom markets.
