Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Lumentum Holdings (NASDAQ:LITE) Stock Price

Media coverage about Lumentum Holdings (NASDAQ:LITE) has been trending somewhat positive recently, Accern Sentiment Analysis reports. The research firm identifies negative and positive press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Lumentum Holdings earned a coverage optimism score of 0.16 on Accern’s scale. Accern also assigned news articles about the technology company an impact score of 45.8401416262773 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the news stories that may have impacted Accern Sentiment’s rankings:

• Needham & Company LLC Reaffirms “Strong-Buy” Rating for Lumentum Holdings Inc. (NASDAQ:LITE) (americanbankingnews.com)
• Lumentum Holdings Inc. (LITE) Earns Buy Rating from Jefferies Group LLC (americanbankingnews.com)
• Lumentum Holdings Inc. (LITE) Rating Reiterated by DA Davidson (americanbankingnews.com)
• IJT, LITE, EVR, STL: ETF Inflow Alert – Nasdaq (nasdaq.com)
• Shares Running on Volume: Lumentum Holdings Inc (LITE) – Evergreen Caller (evergreencaller.com)

Shares of Lumentum Holdings (LITE) traded down 7.58% on Thursday, hitting $53.05. The company had a trading volume of 3,472,575 shares. The company has a 50 day moving average price of $61.36 and a 200 day moving average price of $52.56. The firm’s market capitalization is $3.24 billion. Lumentum Holdings has a 1-year low of $31.50 and a 1-year high of $68.63.

Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.18. Lumentum Holdings had a positive return on equity of 19.55% and a negative net margin of 3.28%. The company had revenue of $222.70 million for the quarter, compared to analysts’ expectations of $229.45 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Lumentum Holdings’s revenue was down 7.9% compared to the same quarter last year. On average, equities analysts forecast that Lumentum Holdings will post $2.93 earnings per share for the current fiscal year.

Several brokerages have recently commented on LITE. B. Riley restated a “buy” rating and set a $77.00 target price (up from $58.00) on shares of Lumentum Holdings in a research report on Tuesday, June 27th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $80.00 price target on shares of Lumentum Holdings in a research note on Thursday. Barclays PLC upped their price target on Lumentum Holdings from $50.00 to $59.00 and gave the company an “equal weight” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $72.00 price target (up from $63.00) on shares of Lumentum Holdings in a research note on Thursday. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $68.00 price target on shares of Lumentum Holdings in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.75.

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In other Lumentum Holdings news, CFO Aaron Tachibana sold 1,521 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.40, for a total transaction of $82,742.40. Following the completion of the sale, the chief financial officer now owns 45,495 shares in the company, valued at $2,474,928. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Alan S. Lowe sold 5,954 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.29, for a total value of $323,242.66. Following the sale, the chief executive officer now owns 153,439 shares of the company’s stock, valued at approximately $8,330,203.31. The disclosure for this sale can be found here. In the last three months, insiders sold 11,813 shares of company stock worth $648,776. 0.76% of the stock is owned by insiders.

Lumentum Holdings Company Profile

Lumentum Holdings Inc is a 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 Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).