Needham analyst Alex Henderson maintained a Buy rating on Lumentum Holdings (LITE) today and set a price target of $70.00. The company’s shares closed last Monday at $56.35.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.1% and a 50.9% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Cisco Systems Inc, Juniper Networks, and Arista Networks.
Currently, the analyst consensus on Lumentum Holdings is a Strong Buy with an average price target of $71.73, which is a 29.5% upside from current levels. In a report issued on October 18, Stifel Nicolaus also reiterated a Buy rating on the stock with a $70.00 price target.
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The company has a one-year high of $63.94 and a one-year low of $37.00. Currently, Lumentum Holdings has an average volume of 1.19M.
Based on the recent corporate insider activity of 69 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.
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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.
