Lumentum Holdings Inc. (NASDAQ:LITE) CFO Sells $185,714.76 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) CFO Wajid Ali sold 2,222 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total transaction of $185,714.76. Following the sale, the chief financial officer now directly owns 47,460 shares in the company, valued at approximately $3,966,706.80. The trade was a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lumentum Trading Up 0.8%

Shares of Lumentum stock traded up $0.65 on Monday, hitting $82.11. 1,273,773 shares of the company traded hands, compared to its average volume of 2,047,043. The stock's 50 day moving average price is $65.04 and its 200-day moving average price is $74.96. 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 52 week low of $38.29 and a 52 week high of $104.00. The company has a market cap of $5.70 billion, a PE ratio of -10.68 and a beta of 1.28.

Lumentum (NASDAQ:LITE - Get Free Report) last posted 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. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The firm had revenue of $425.20 million during the quarter, compared to the consensus estimate of $418.18 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company's revenue was up 16.0% on a year-over-year basis. Equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analyst Upgrades and Downgrades

LITE has been the subject of a number of analyst reports. B. Riley increased 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. BNP Paribas raised shares of Lumentum from a "neutral" rating to an "outperform" rating and set a $92.00 price target for the company in a report on Tuesday, March 11th. Needham & Company LLC lowered their price target on shares of Lumentum from $110.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Northland Securities set a $80.00 price target on shares of Lumentum in a report on Wednesday, May 7th. Finally, UBS Group lowered their price target on shares of Lumentum from $96.00 to $78.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $82.80.

Institutional Trading of Lumentum

Several institutional investors and hedge funds have recently modified their holdings of the stock. PointState Capital LP bought a new position in Lumentum in the first quarter worth approximately $213,503,000. Capital World Investors raised its stake in Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock worth $302,231,000 after buying an additional 1,871,572 shares in the last quarter. Analog Century Management LP bought a new position in Lumentum in the first quarter worth approximately $60,348,000. Norges Bank bought a new position in Lumentum in the fourth quarter worth approximately $68,962,000. Finally, Nuveen Asset Management LLC raised its stake in Lumentum by 98.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock worth $103,122,000 after buying an additional 610,938 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

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.