Insider Selling: Lumentum Holdings Inc. (NASDAQ:LITE) CAO Sells 3,030 Shares of Stock

Lumentum Holdings Inc. (NASDAQ:LITEGet Rating) CAO Matthew Joseph Sepe sold 3,030 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $86.20, for a total value of $261,186.00. Following the completion of the sale, the chief accounting officer now owns 25,288 shares in the company, valued at $2,179,825.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lumentum Stock Down 0.7 %

Shares of NASDAQ LITE opened at $79.59 on Friday. Lumentum Holdings Inc. has a 12 month low of $73.97 and a 12 month high of $108.90. The company has a current ratio of 4.38, a quick ratio of 4.03 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 29.81 and a beta of 0.93. The business has a 50-day moving average of $85.74 and a 200-day moving average of $88.12.

Lumentum (NASDAQ:LITEGet Rating) last issued its earnings results on Tuesday, August 16th. The technology company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.08. The business had revenue of $422.10 million during the quarter, compared to analyst estimates of $417.99 million. Lumentum had a return on equity of 18.66% and a net margin of 11.61%. Lumentum’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Sell-side analysts expect that Lumentum Holdings Inc. will post 4.93 earnings per share for the current fiscal year.

Institutional Trading of Lumentum

Several hedge funds and other institutional investors have recently bought and sold shares of LITE. Urban Wealth Management LLC purchased a new stake in Lumentum in the second quarter worth approximately $29,000. Assetmark Inc. purchased a new stake in Lumentum in the second quarter worth approximately $30,000. Richelieu Gestion PLC bought a new stake in Lumentum in the first quarter valued at approximately $32,000. Twin Tree Management LP bought a new stake in Lumentum in the first quarter valued at approximately $36,000. Finally, Private Capital Group LLC lifted its position in Lumentum by 4,000.0% in the first quarter. Private Capital Group LLC now owns 451 shares of the technology company’s stock valued at $44,000 after purchasing an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LITE shares. Susquehanna Bancshares lowered their price objective on Lumentum to $105.00 in a research note on Monday, July 25th. Morgan Stanley upped their price target on Lumentum from $94.00 to $98.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 17th. Needham & Company LLC reiterated a “buy” rating and set a $125.00 price target on shares of Lumentum in a research report on Monday, June 6th. JPMorgan Chase & Co. decreased their price target on Lumentum from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, July 14th. Finally, Raymond James upped their price target on Lumentum from $102.00 to $114.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.36.

Lumentum Company Profile

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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 in 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.

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

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