Lumentum Holdings (LITE) Gets a Buy Rating from Needham
Needham analyst Alex Henderson reiterated a Buy rating on Lumentum Holdings (LITE) today and set a price target of $105.00. The company’s shares closed last Monday at $72.25.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 10.1% and a 46.2% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Ceragon Networks, and Extreme Networks.
Lumentum Holdings has an analyst consensus of Strong Buy, with a price target consensus of $96.81.
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Based on Lumentum Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $49.1 million. In comparison, last year the company had a net profit of $16.3 million.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LITE in relation to earlier this year.
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 provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments.
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