Needham Reiterates Their Buy Rating on Lumentum Holdings (LITE)


In a report released today, Alex Henderson from Needham reiterated a Buy rating on Lumentum Holdings (LITE), with a price target of $105.00. The company’s shares closed last Tuesday at $82.41.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.7% and a 52.9% success rate. Henderson covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, Applied Optoelectronics, and Forescout Technologies.

Lumentum Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $94.14, which is a 21.9% upside from current levels. In a report issued on April 24, Rosenblatt Securities also maintained a Buy rating on the stock with a $95.00 price target.

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The company has a one-year high of $93.24 and a one-year low of $40.28. Currently, Lumentum Holdings has an average volume of 1.53M.

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Lumentum Holdings, Inc. engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications. The Commercial Lasers segment focuses in serving customers in markets and applications such as sheet metal processing, general manufacturing, biotechnology, graphics and imaging, remote sensing, and precision machining such as drilling in printed circuit boards, wafer singulation, glass cutting, and solar cell scribing. The company was founded on February 10, 2015 and is headquartered in Milpitas, CA.

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