Alan S. Lowe Sells 20,000 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) Director Alan S. Lowe sold 20,000 shares of Lumentum stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $88.47, for a total value of $1,769,400.00. Following the completion of the transaction, the director now owns 250,471 shares in the company, valued at approximately $22,159,169.37. This represents a 7.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Lumentum Trading Up 1.4%

NASDAQ:LITE traded up $1.20 during mid-day trading on Friday, reaching $89.66. 2,104,938 shares of the company's stock traded hands, compared to its average volume of 2,085,698. The company has a 50 day moving average price of $70.38 and a 200-day moving average price of $75.02. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.72 and a quick ratio of 3.53. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -13.90 and a beta of 1.28. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $425.20 million for the quarter, compared to analysts' expectations of $418.18 million. Lumentum had a negative return on equity of 8.69% and a negative net margin of 29.87%. The business's revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 EPS. On average, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

LITE has been the topic of several analyst reports. Northland Securities set a $80.00 price objective on Lumentum in a report on Wednesday, May 7th. Raymond James Financial lifted their price objective on Lumentum from $80.00 to $90.00 and gave the stock a "strong-buy" rating in a report on Wednesday, June 4th. B. Riley lifted their price objective on Lumentum from $65.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. UBS Group decreased their price objective on Lumentum from $96.00 to $78.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on Lumentum from $87.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.93.

Institutional Trading of Lumentum

Several large investors have recently bought and sold shares of LITE. PointState Capital LP bought a new stake in Lumentum during the 1st quarter valued at approximately $213,503,000. Capital World Investors boosted its position in Lumentum by 108.3% during the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after acquiring an additional 1,871,572 shares in the last quarter. Analog Century Management LP bought a new stake in Lumentum during the 1st quarter valued at approximately $60,348,000. Norges Bank bought a new stake in Lumentum during the 4th quarter valued at approximately $68,962,000. Finally, Nuveen Asset Management LLC boosted its position in Lumentum by 98.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after acquiring an additional 610,938 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

About Lumentum

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.

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