Barclays analyst Thomas O'Malley maintains $Lumentum (LITE.US)$ with a sell rating, and adjusts the target price from $40 to $80.
According to TipRanks data, the analyst has a success rate of 54.5% and a total average return of 13.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Lumentum (LITE.US)$'s main analysts recently are as follows:
The company has managed the Cloud Light transition more successfully than anticipated and has incorporated a third hyperscale customer, expected to start ramping up in December.
Lumentum recorded 'robust results' with sales and pro-forma EPS exceeding forecasts by 10% and 30%, respectively, in the December-end quarter. Nevertheless, this growth spurt appears to incur significant expenses, as gross margins have experienced a less vigorous expansion than previously anticipated, and operational expenditures are projected to increase.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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