In a report released today, Christopher Rolland from Susquehanna reiterated a Buy rating on Lumentum Holdings (LITE – Research Report), with a price target of $120.00. The company’s shares closed last Thursday at $86.92.
According to TipRanks.com, Rolland is a top 25 analyst with an average return of 27.2% and a 76.5% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Skyworks Solutions, and NXP Semiconductors.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lumentum Holdings with a $113.30 average price target, a 25.2% upside from current levels. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $125.00 price target.
Based on Lumentum Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $448 million and net profit of $81.5 million. In comparison, last year the company earned revenue of $452 million and had a net profit of $67.1 million.
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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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