Lumentum (US:LITE) Change of Rating

In an analyst note issued on 16 March, Goldman Sachs has upped Lumentum (US:LITE) stock to “Neutral”. LITE’s old rating was “Sell”.

The rating upgrade is well received by equity trades, as US:LITE is currently trading 7.12% higher at $48.90 as of 2:05 PM New York time. Lumentum shares have [From2] 0% over the past 200 days, while the S&P500 Index has increased 13.56% during the same time period.

Out of 12 brokers covering Lumentum, 8 rate it a Buy, 5 indicate a Hold while 1 suggest a Sell. The highest target is $35 and the lowest is $20 according to Thomson/First Call. The 12-month mean target is $29.5, which means downside potential of 39.67% over the current price.

Lumentum (US:LITE) 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). The Company’s OpComms products include a range of components, modules and subsystems to support and maintain customers in its two primary markets: Telecom and Datacom.

Lumentum (US:LITE) traded up 7.12% on 16 March, hitting $48.9. A total of 3.65M shares of the company’s stock traded hands. This is up from average of 2.00M shares. Lumentum has a 52 week low of $20.80 and a 52 week high of $53.69. The company has a market cap of $3.16B and a P/E ratio of 213.7.

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The post Goldman Sachs Increases Lumentum (US:LITE) to “Neutral” From “Sell” Rating appeared first on Octafinance.