Price Action to Note: Is Lumentum Holdings Inc’s Fuel For Real? The Stock Just Increased Again

Price Action to Note: Is Lumentum Holdings Inc's Fuel For Real? The Stock Just Increased Again

The stock of Lumentum Holdings Inc (NASDAQ:LITE) is a huge mover today! About 352,573 shares traded hands. Lumentum Holdings Inc (NASDAQ:LITE) has risen 77.31% since March 3, 2016 and is uptrending. It has outperformed by 68.97% the S&P500.
The move comes after 6 months positive chart setup for the $2.75B company. It was reported on Oct, 6 by Barchart.com. We have $73.44 PT which if reached, will make NASDAQ:LITE worth $1.79B more.

Analysts await Lumentum Holdings Inc (NASDAQ:LITE) to report earnings on November, 8. They expect $0.36 earnings per share, up 140.00% or $0.21 from last year’s $0.15 per share. LITE’s profit will be $22.24M for 30.91 P/E if the $0.36 EPS becomes a reality. After $0.35 actual earnings per share reported by Lumentum Holdings Inc for the previous quarter, Wall Street now forecasts 2.86% EPS growth.

Lumentum Holdings Inc (NASDAQ:LITE) Ratings Coverage

Out of 14 analysts covering Lumentum (NASDAQ:LITE), 6 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 43% are positive. Lumentum has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, August 12 report. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, February 5. The firm has “Hold” rating by Jefferies given on Tuesday, August 4. The stock of Lumentum Holdings Inc (NASDAQ:LITE) earned “Equal Weight” rating by Barclays Capital on Wednesday, August 5. The company was maintained on Tuesday, January 12 by M Partners. The stock has “Buy” rating given by B. Riley & Co on Wednesday, August 5. The firm has “Buy” rating given on Wednesday, July 20 by M Partners. On Thursday, September 24 the stock rating was initiated by M Partners with “Buy”. UBS initiated it with “Buy” rating and $23 target price in Thursday, August 13 report. The rating was downgraded by Barclays Capital on Friday, January 8 to “Underweight”.

According to Zacks Investment Research, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California.”

More news for Lumentum Holdings Inc (NASDAQ:LITE) were recently published by: Seekingalpha.com, which released: “Spin-Off In The Spotlight: Lumentum Holdings Inc.” on October 04, 2016. Nasdaq.com‘s article titled: “Lumentum Holdings Inc (LITE) CEO and President Alan S Lowe Sold $5.9 million …” and published on August 25, 2016 is yet another important article.

LITE Company Profile

Lumentum Holdings Inc., incorporated on February 10, 2015, is a well-known provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Firm operates in two divisions: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Company’s clients include original equipment manufacturers (OEMs).

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