Lumentum Holdings Inc (LITE) General Counsel Sells $34,585.32 in Stock

Lumentum Holdings Inc (NASDAQ:LITE) General Counsel Judy G. Hamel sold 591 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $58.52, for a total transaction of $34,585.32. Following the transaction, the general counsel now owns 28,816 shares of the company’s stock, valued at approximately $1,686,312.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lumentum Holdings Inc (NASDAQ:LITE) traded up $1.30 during trading hours on Friday, hitting $59.40. 1,386,717 shares of the stock were exchanged, compared to its average volume of 2,778,006. Lumentum Holdings Inc has a 52 week low of $40.35 and a 52 week high of $68.63. The company has a quick ratio of 4.16, a current ratio of 4.84 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $3,625.44, a PE ratio of 40.68, a P/E/G ratio of 1.10 and a beta of 0.56.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The company had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $357.03 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Lumentum’s quarterly revenue was up 52.7% compared to the same quarter last year. analysts anticipate that Lumentum Holdings Inc will post 2.85 earnings per share for the current fiscal year.

A number of research analysts have commented on LITE shares. Morgan Stanley upgraded shares of Lumentum from an “underweight” rating to an “equal weight” rating and set a $46.00 price target for the company in a research note on Tuesday, January 23rd. Barclays upgraded shares of Lumentum from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $65.00 to $67.00 in a research note on Wednesday, January 10th. BidaskClub cut shares of Lumentum from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Northland Securities restated a “buy” rating and set a $82.00 price target on shares of Lumentum in a research note on Wednesday, February 7th. Finally, TheStreet upgraded shares of Lumentum from a “c” rating to a “b-” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company. Lumentum currently has a consensus rating of “Buy” and an average target price of $72.31.

Several large investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Lumentum in the fourth quarter valued at approximately $128,000. Envestnet Asset Management Inc. increased its holdings in shares of Lumentum by 1,164.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,653 shares of the technology company’s stock valued at $178,000 after purchasing an additional 3,364 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Lumentum by 42.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,135 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Lumentum by 106.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,864 shares of the technology company’s stock valued at $189,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Lumentum in the second quarter valued at approximately $226,000.

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Lumentum Company Profile

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).

Insider Buying and Selling by Quarter for Lumentum (NASDAQ:LITE)

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