Lumentum Holdings Inc (NASDAQ:LITE) has been downgraded to Sell in a statement by Goldman Sachs Group Inc. earlier today.
- Updated: October 16, 2016
Goldman Sachs Group Inc. has downgraded Lumentum Holdings Inc (NASDAQ:LITE) to Sell in a report released on 10/11/2016.
On Monday September 19, 2016, Needham released a statement on Lumentum Holdings Inc (NASDAQ:LITE) raised the target price from $40.00 to $50.00 that indicated a possible upside of 0.28%.
Just yesterday Lumentum Holdings Inc (NASDAQ:LITE) traded -0.64% lower at $44.50. The company’s 50-day moving average is $39.46 and its 200-day moving average is $29.75. The last stock close price is up 36.03% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same period. Volume of trade was down over the average, with 420,372 shares of LITE changing hands under the typical 951,245
Recent Performance Chart
With a total market value of $0, Lumentum Holdings Inc has with a one year low of $13.97 and a one year high of $45.25 .
Also covering Lumentum Holdings Inc's target, a total of 12 analysts have released a report on the stock. The consensus target price is $29.50 with two equity analysts rating the stock a strong buy, 6 brokerages rating the company a buy, five brokerages rating the stock a hold, 1 analyst rating the company a underperform, and lastly 0 firms rating the stock a sell.
Brief Synopsis About Lumentum Holdings Inc (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, wafer singulation and solar cell scribing. The Company's customers include original equipment manufacturers (OEMs).
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