Lumentum Holdings (LITE) Received its Third Buy in a Row


After MKM Partners and Rosenblatt Securities gave Lumentum Holdings (NASDAQ: LITE) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Joseph Wolf maintained a Buy rating on Lumentum Holdings yesterday and set a price target of $70. The company’s shares closed yesterday at $56.50.

According to TipRanks.com, Wolf is a 4-star analyst with an average return of 5.1% and a 54.2% success rate. Wolf covers the Consumer Goods sector, focusing on stocks such as Keysight Technologies, Corning Inc, and Radware Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lumentum Holdings with a $82.92 average price target, implying a 46.8% upside from current levels. In a report issued on August 7, Loop Capital Markets also maintained a Buy rating on the stock with a $73 price target.

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Lumentum Holdings’ market cap is currently $3.54B and has a P/E ratio of 23.35. The company has a Price to Book ratio of 4.03.

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Lumentum Holdings, Inc. engages in manufacturing of optical and photonic products enabling optical networking and commercial laser. Its components and subsystems are part of telecom, enterprise, and data center network. The company operates in two segments: Optical Communications and Commercial Lasers.

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