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Lumentum Holdings (LITE) Receives a Buy from Raymond James

In a report released today, Simon Leopold from Raymond James maintained a Buy rating on Lumentum Holdings (LITEResearch Report), with a price target of $102.00. The company’s shares closed last Wednesday at $93.43.

According to TipRanks.com, Leopold is a 5-star analyst with an average return of 8.1% and a 57.8% success rate. Leopold covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise, and Dell Technologies.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lumentum Holdings with a $110.14 average price target, which is a 21.0% upside from current levels. In a report issued on July 25, Barclays also maintained a Buy rating on the stock with a $95.00 price target.

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Lumentum Holdings’ market cap is currently $6.45B and has a P/E ratio of 37.98.

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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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