Lumentum (NASDAQ:LITE) has been downgraded from Neutral to Sell in a statement by Goldman Sachs earlier today.
- Updated: October 11, 2016
Goldman Sachs has downgraded Lumentum (NASDAQ:LITE) from Neutral to Sell in a statement released on 10/11/2016.
On Monday September 19, 2016, Needham released a statement on Lumentum (NASDAQ:LITE) upped the target price from $40.00 to $50.00 that suggested an upside of 0.28%.
Having a price of $44.50, Lumentum (NASDAQ:LITE) traded -6.31% lower on the day. With the last close up 41.77% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same period. LITE has recorded a 50-day average of $38.69 and a two hundred day average of $29.41. Trade Volume was up over the average, with 1,121,966 shares of LITE changing hands over the typical 914,411
Recent Performance Chart
Lumentum has with a one year low of $13.97 and a one year high of $45.25 and has a total market value of $0.
A total of 12 analysts have released a research note on LITE. Two analysts rating the company a strong buy, six analysts rating the company a buy, five analysts rating the company a hold, one analyst rating the company a underperform, and finally zero analysts rating the company a sell with a one year target of $29.50.
More 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, wafer singulation and solar cell scribing. The Company's customers include original equipment manufacturers (OEMs).
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