Susquehanna analyst Christopher Rolland maintained a Buy rating on Lumentum Holdings (LITE – Research Report) on July 6 and set a price target of $110.00. The company’s shares closed last Wednesday at $78.06, close to its 52-week low of $73.97.
According to TipRanks.com, Rolland is a top 25 analyst with an average return of 22.6% and a 66.8% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Lattice Semiconductor, and Power Integrations.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lumentum Holdings with a $113.44 average price target.
Based on Lumentum Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $395 million and net profit of $26 million. In comparison, last year the company earned revenue of $420 million and had a net profit of $226 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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