Northland Capital has downgraded Lumentum Holdings Inc (NDAQ:LITE) from Outperform to Market Perform in a report released on Friday May 05, 2017.
Having a price of $49.45, Lumentum Holdings Inc (NDAQ:LITE) traded 5.21% higher on the day. With the last close up 16.05% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.02% over the same period. LITE has recorded a 50-day average of $47.83 and a two hundred day average of $42.61. Trade Volume was up over the average, with 2,826,066 shares of LITE changing hands over the typical 2,091,700
Recent Performance Chart
Lumentum Holdings Inc has 52 week low of $20.80 and a 52 week high of $55.92 with a PE ratio of 207.77 and has a market capitalization of $0.
In addition to Northland Capital reporting its stock price target, a total of 12 brokerages have issued a ratings update on the company. The average stock price target is $29.50 with 2 brokerages rating the stock a strong buy, 6 Equity Analysts Rating the company a buy, five equity analysts rating the company a hold, one equity analyst rating the company a underperform, and lastly zero equity analysts rating the company a sell.
More About Lumentum Holdings Inc (NDAQ:LITE)
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. The Company's Lasers products serve customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing, and precision machining, such as drilling in printed circuit boards, wafer singulation and solar cell scribing. The Company's customers include original equipment manufacturers (OEMs).
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