Insider Selling: Lumentum (NASDAQ:LITE) Insider Sells $470,475.00 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 500 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $940.95, for a total value of $470,475.00. Following the sale, the insider owned 118,627 shares of the company’s stock, valued at $111,622,075.65. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yuen Wupen also recently made the following trade(s):

• On Monday, August 31st, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $895.00, for a total value of $447,500.00.
• On Wednesday, August 26th, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $882.15, for a total transaction of $441,075.00.
• On Monday, August 24th, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $824.24, for a total transaction of $412,120.00.
• On Friday, August 21st, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $898.15, for a total transaction of $449,075.00.
• On Thursday, August 20th, Yuen Wupen sold 1,500 shares of Lumentum stock. The stock was sold at an average price of $827.82, for a total transaction of $1,241,730.00.

Lumentum Stock Performance

Shares of LITE stock opened at $847.37 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The company has a market cap of $76.01 billion, a PE ratio of -10.31 and a beta of 1.53. The company’s fifty day simple moving average is $813.36 and its 200-day simple moving average is $815.28. Lumentum Holdings Inc. has a 52 week low of $133.91 and a 52 week high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, equities research analysts anticipate that Lumentum Holdings Inc. will post 19.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Northland Securities upped their price target on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Evercore began coverage on shares of Lumentum in a research report on Monday. They set an “outperform” rating and a $1,100.00 target price on the stock. Mizuho upped their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lumentum in a report on Monday. They set a “buy” rating and a $1,200.00 price target for the company. Finally, TD Cowen lifted their price target on shares of Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,053.83.

Hedge Funds Weigh In On Lumentum

Institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum during the first quarter worth approximately $25,000. Sachetta LLC boosted its stake in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Truvestments Capital LLC boosted its stake in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Triumph Capital Management acquired a new position in Lumentum during the 4th quarter worth $30,000. Finally, Danske Bank A S bought a new stake in shares of Lumentum in the 3rd quarter worth about $33,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Company Profile

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.