Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 99.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,393 shares of the technology company's stock after selling 7,497,869 shares during the period. Janus Henderson Group PLC's holdings in Lumentum were worth $2,637,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LITE. Gotham Asset Management LLC raised its holdings in shares of Lumentum by 24.5% in the 4th quarter. Gotham Asset Management LLC now owns 12,903 shares of the technology company's stock worth $1,083,000 after purchasing an additional 2,537 shares in the last quarter. Ellevest Inc. bought a new position in shares of Lumentum in the fourth quarter valued at $311,000. Ethic Inc. bought a new position in shares of Lumentum in the fourth quarter valued at $441,000. Collar Capital Management LLC acquired a new stake in shares of Lumentum during the 4th quarter valued at $1,618,000. Finally, Concentric Capital Strategies LP bought a new stake in shares of Lumentum during the 4th quarter worth $3,093,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Activity at Lumentum

In related news, SVP Jae Kim sold 4,577 shares of Lumentum stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $77.98, for a total transaction of $356,914.46. Following the transaction, the senior vice president now owns 31,534 shares of the company's stock, valued at $2,459,021.32. The trade was a 12.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Yuen Wupen sold 4,426 shares of Lumentum stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $71.80, for a total transaction of $317,786.80. Following the transaction, the insider now directly owns 92,099 shares in the company, valued at $6,612,708.20. This represents a 4.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,298 shares of company stock worth $1,081,764 in the last 90 days. Corporate insiders own 0.19% of the company's stock.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $77.11 on Wednesday. The firm has a 50 day moving average of $62.23 and a 200-day moving average of $75.23. The stock has a market capitalization of $5.35 billion, a PE ratio of -10.03 and a beta of 1.18. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. 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 released its earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.07. The firm 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 7.25% and a negative net margin of 36.98%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. On average, equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LITE has been the topic of a number of recent analyst reports. B. Riley boosted their price target on shares of Lumentum from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Rosenblatt Securities boosted their target price on shares of Lumentum from $85.00 to $94.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Northland Securities set a $80.00 target price on Lumentum in a report on Wednesday, May 7th. Barclays set a $75.00 target price on Lumentum and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Raymond James dropped their price target on Lumentum from $82.00 to $80.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.20.

Lumentum Profile

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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