After MKM Partners and Rosenblatt Securities gave Lumentum Holdings (NASDAQ: LITE) a Buy rating last month, the company received another Buy, this time from Piper Jaffray. Analyst Troy Jensen reiterated a Buy rating on Lumentum Holdings yesterday and set a price target of $85. The company’s shares closed yesterday at $56.50.
According to TipRanks.com, Jensen is a 5-star analyst with an average return of 11.9% and a 52.3% success rate. Jensen covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and AeroVironment.
Currently, the analyst consensus on Lumentum Holdings is a Strong Buy with an average price target of $83.18, a 47.2% 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.
