A statement released earlier today by Needham about Lumentum (NASDAQ:LITE) bumps the target price to $50.00
- Updated: September 18, 2016
Yesterday Lumentum (NASDAQ:LITE) traded 0.15% higher at $39.21. The company’s 50-day moving average is $33.35 and its two hundred day average is $27.18. With the last stock price close up 44.24% from the two hundred day average, compared with the S&P 500 which has decreased -0.01% over the same period. Volume of trade was was up over the average, with 2,173,735 shares of LITE changing hands over the typical 936,423 shares..
Stating a possible upside of 0.28%, Needham upped the target price of Lumentum (NASDAQ:LITE) to $50
On 8/16/2016, Zacks Investment Research released a statement on Lumentum(NASDAQ:LITE) upped the target price from $0.00 to $38.00. At the time, this suggested an upside of 0.12%.
A total of 12 firms have reported on LITE. Two analysts rate the stock a strong buy, six analysts rate the stock a buy, five analyts rate the stock a hold, one analyst rate the company to underperform, and finally 0 firmsrate the stock as sell with a consensus target stock price of $29.50
Lumentum has a 52 week low of $13.97 and a one-year high of $39.90. Lumentum’s total market value is currently $0.0.
General Information About Lumentum (NASDAQ: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, and wafer singulation and solar cell scribing. The Company’s customers include original equipment manufacturers (OEMs).
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