Lumentum (NASDAQ:LITE) Insider Sells 500 Shares of Stock

Key Points

• Insider selling: Yuen Wupen sold 500 Lumentum shares for $441,075 under a pre-arranged Rule 10b5-1 plan, reducing the position by 0.54% to 91,729 shares. The insider has also sold shares in several transactions since August 20.
• Strong operating results: Lumentum reported quarterly EPS of $3.23, beating estimates of $2.97, while revenue rose 109.3% year over year to $1.01 billion. Shares traded at $939.03, near their 52-week high of $1,085.68.
• Analyst sentiment remains positive: The stock has a “Moderate Buy” consensus rating and an average price target of $1,044.67, although ratings range from “Strong Buy” to “Sell.” Institutional investors own approximately 94.05% of the company.

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) insider Yuen Wupen sold 500 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $882.15, for a total value of $441,075.00. Following the transaction, the insider directly owned 91,729 shares in the company, valued at approximately $80,918,737.35. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Yuen Wupen also recently made the following trade(s):

• On Monday, August 24th, Yuen Wupen sold 500 shares of Lumentum stock. The stock was sold at an average price of $824.24, for a total value of $412,120.00.
• On Friday, August 21st, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $898.15, for a total value of $449,075.00.
• On Thursday, August 20th, Yuen Wupen sold 1,500 shares of Lumentum stock. The stock was sold at an average price of $827.82, for a total transaction of $1,241,730.00.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded up $53.46 during midday trading on Wednesday, hitting $939.03. The company's stock had a trading volume of 4,467,922 shares, compared to its average volume of 5,224,733. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock's 50 day simple moving average is $808.80 and its 200 day simple moving average is $801.60. The stock has a market capitalization of $84.23 billion, a price-to-earnings ratio of -11.42 and a beta of 1.50. Lumentum Holdings Inc. has a fifty-two week low of $123.78 and a fifty-two week high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.26. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The firm's revenue for the quarter was up 109.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, research analysts anticipate that Lumentum Holdings Inc. will post 19.76 earnings per share for the current year.

Analysts Set New Price Targets

LITE has been the subject of a number of recent research reports. Zacks Research upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 20th. Barclays upped their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. increased their price target on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Weiss Ratings cut shares of Lumentum from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Wednesday, August 19th. Finally, Craig Hallum upped their price objective on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,044.67.

Hedge Funds Weigh In On Lumentum

A number of institutional investors have recently modified their holdings of LITE. Hilton Head Capital Partners LLC acquired a new position in Lumentum during the 1st quarter worth $25,000. Sachetta LLC lifted its stake in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company's stock valued at $25,000 after acquiring an additional 19 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Lumentum during the second quarter valued at $40,000. Keating Financial Advisory Services Inc. bought a new position in Lumentum in the second quarter valued at about $41,000. Finally, Fiduciary Financial Advisors acquired a new stake in Lumentum in the second quarter worth about $42,000. 94.05% of the stock is owned by institutional investors.

Lumentum Company Profile

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.

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