Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction on 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 sale, the director now owns 250,471 shares of the company's stock, valued at $22,159,169.37. This trade represents a 7.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Lumentum Price Performance
Shares of Lumentum stock traded down $0.50 during trading on Monday, reaching $89.16. 1,536,876 shares of the stock traded hands, compared to its average volume of 2,086,979. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00. 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 business has a fifty day simple moving average of $71.15 and a two-hundred day simple moving average of $74.77. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of -13.82 and a beta of 1.27.
Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results 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 during 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 firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Lumentum from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Northland Securities set a $80.00 target price on shares of Lumentum in a research note on Wednesday, May 7th. Barclays set a $75.00 price target on shares of Lumentum and gave the company an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus increased their price objective on shares of Lumentum from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, Raymond James Financial lifted their target price on shares of Lumentum from $80.00 to $90.00 and gave the company a "strong-buy" rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.93.
Get Our Latest Stock Report on LITE
Institutional Investors Weigh In On Lumentum
Large investors have recently bought and sold shares of the business. TCW Group Inc. bought a new stake in shares of Lumentum in the 4th quarter worth about $1,627,000. P.A.W. Capital Corp purchased a new position in Lumentum in the fourth quarter worth about $1,007,000. Valliance Asset Management Ltd bought a new stake in Lumentum during the fourth quarter worth approximately $2,099,000. Proficio Capital Partners LLC purchased a new stake in Lumentum during the fourth quarter valued at approximately $13,421,000. Finally, Versor Investments LP purchased a new stake in Lumentum during the fourth quarter valued at approximately $336,000. Institutional investors own 94.05% of the company's stock.
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 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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