Lumentum Holdings Inc. (NASDAQ:LITE) Insider Yuen Wupen Sells 264 Shares

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) insider Yuen Wupen sold 264 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $102.22, for a total transaction of $26,986.08. Following the completion of the sale, the insider owned 80,302 shares in the company, valued at approximately $8,208,470.44. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, May 19th, Yuen Wupen sold 289 shares of Lumentum stock. The stock was sold at an average price of $75.88, for a total transaction of $21,929.32.
• On Friday, May 16th, Yuen Wupen sold 290 shares of Lumentum stock. The shares were sold at an average price of $77.98, for a total transaction of $22,614.20.
• On Thursday, May 15th, Yuen Wupen sold 4,716 shares of Lumentum stock. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92.
• On Tuesday, May 13th, Yuen Wupen sold 4,426 shares of Lumentum stock. The shares were sold at an average price of $71.80, for a total transaction of $317,786.80.

Lumentum Stock Up 0.7%

Shares of LITE traded up $0.72 during mid-day trading on Thursday, hitting $102.85. The company's stock had a trading volume of 1,186,593 shares, compared to its average volume of 2,537,152. The company's 50-day moving average is $87.04 and its 200-day moving average is $76.22. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $105.47. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of -15.95 and a beta of 1.34. The company has a current ratio of 4.72, a quick ratio of 3.53 and a debt-to-equity ratio of 2.91.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. Lumentum had a negative net margin of 29.87% and a negative return on equity of 8.69%. The firm had revenue of $425.20 million during the quarter, compared to analysts' expectations of $418.18 million. During the same quarter in the prior year, the company earned $0.09 EPS. The company's revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumentum

A number of hedge funds and other institutional investors have recently bought and sold shares of LITE. Proficio Capital Partners LLC purchased a new stake in Lumentum during the fourth quarter valued at approximately $531,000. Envestnet Portfolio Solutions Inc. lifted its position in Lumentum by 14.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,383 shares of the technology company's stock valued at $368,000 after acquiring an additional 556 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Lumentum by 1.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 16,165 shares of the technology company's stock valued at $1,357,000 after acquiring an additional 213 shares during the last quarter. Xponance Inc. lifted its position in Lumentum by 10.7% during the fourth quarter. Xponance Inc. now owns 8,064 shares of the technology company's stock valued at $677,000 after acquiring an additional 779 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Lumentum by 1.4% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,173 shares of the technology company's stock valued at $1,274,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

LITE has been the topic of several analyst reports. B. Riley upped their price target on shares of Lumentum from $65.00 to $73.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Wolfe Research initiated coverage on shares of Lumentum in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $105.00 price target on shares of Lumentum in a report on Thursday, June 12th. Northland Securities set a $80.00 price target on shares of Lumentum in a report on Wednesday, May 7th. Finally, Northland Capmk upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $87.73.

Lumentum Company 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.