Lumentum Holdings Inc. (NASDAQ:LITE) Director Alan S. Lowe Sells 10,000 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) Director Alan S. Lowe sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total transaction of $835,800.00. Following the completion of the transaction, the director now owns 270,471 shares in the company, valued at approximately $22,605,966.18. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Lumentum Stock Performance

NASDAQ:LITE opened at $81.46 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. Lumentum Holdings Inc. has a fifty-two week low of $38.29 and a fifty-two week high of $104.00. The company has a market cap of $5.65 billion, a price-to-earnings ratio of -10.59 and a beta of 1.18. The stock has a fifty day moving average price of $65.04 and a 200-day moving average price of $75.08.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The business had revenue of $425.20 million during the quarter, compared to analysts’ expectations of $418.18 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. Lumentum’s revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LITE has been the topic of a number of research reports. Barclays set a $75.00 price target on shares of Lumentum and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Jefferies Financial Group began coverage on Lumentum in a research report on Friday, February 21st. They issued a “buy” rating on the stock. UBS Group dropped their price target on Lumentum from $96.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Northland Securities set a $80.00 price target on Lumentum in a research note on Wednesday, May 7th. Finally, B. Riley increased their price objective on Lumentum from $65.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.80.

Institutional Trading of Lumentum

Institutional investors and hedge funds have recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in Lumentum during the first quarter worth $25,000. Rakuten Securities Inc. raised its holdings in shares of Lumentum by 164.4% during the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company’s stock worth $30,000 after buying an additional 296 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Lumentum by 54.2% during the 4th quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock worth $31,000 after buying an additional 130 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Lumentum by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company’s stock worth $32,000 after buying an additional 260 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its stake in Lumentum by 2,235.3% in the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock valued at $33,000 after buying an additional 380 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.