After Northland Securities and Rosenblatt Securities gave Lumentum Holdings (NASDAQ: LITE) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Blayne Curtis maintained a Buy rating on Lumentum Holdings yesterday and set a price target of $60. The company’s shares opened today at $46.16.
According to TipRanks.com, Curtis is a 4-star analyst with an average return of 7.5% and a 56.0% 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 $69.04, a 49.6% upside from current levels. In a report issued on May 6, Needham also maintained a Buy rating on the stock with a $70 price target.
See today’s analyst top recommended stocks >>
Lumentum Holdings’ market cap is currently $3.39B and has a P/E ratio of 204.25. The company has a Price to Book ratio of 2.34.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
