Lumentum (NASDAQ:LITE) CFO Wajid Ali Sells 2,222 Shares

Key Points

• Wajid Ali, CFO of Lumentum Holdings Inc., sold 2,222 shares at an average price of $116.45, totaling approximately $258,751.90, reducing his ownership in the company by 4.66%.
• Lumentum reported $0.88 earnings per share for the last quarter, surpassing estimates and achieving a 55.9% increase in revenue year-over-year.
• Several analysts have upgraded Lumentum's stock ratings, with price targets increasing, including a boost from UBS Group to $130.00 and Rosenblatt Securities to $150.00.

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) CFO Wajid Ali sold 2,222 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $116.45, for a total transaction of $258,751.90. Following the completion of the transaction, the chief financial officer owned 45,470 shares in the company, valued at $5,294,981.50. This trade represents a 4.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Wajid Ali also recently made the following trade(s):

• On Wednesday, June 4th, Wajid Ali sold 2,222 shares of Lumentum stock. The stock was sold at an average price of $83.58, for a total transaction of $185,714.76.

Lumentum Trading Up 1.6%

LITE traded up $1.91 during trading on Friday, reaching $119.34. 2,679,776 shares of the stock traded hands, compared to its average volume of 2,991,241. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. The stock's 50-day moving average is $102.10 and its 200 day moving average is $79.97. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $129.98. The stock has a market capitalization of $8.34 billion, a PE ratio of 518.87 and a beta of 1.33.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The company had revenue of $480.70 million for the quarter, compared to the consensus estimate of $465.27 million. During the same period in the previous year, the business earned $0.06 EPS. The firm's revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Rosenblatt Securities restated a "buy" rating and set a $150.00 price target on shares of Lumentum in a report on Thursday, August 14th. JPMorgan Chase & Co. increased their target price on shares of Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Susquehanna raised their price target on shares of Lumentum to $125.00 and gave the stock a "positive" rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of Lumentum from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Wolfe Research assumed coverage on shares of Lumentum in a research report on Tuesday, August 12th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.85.

Institutional Investors Weigh In On Lumentum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mariner LLC lifted its position in shares of Lumentum by 6.1% during the 4th quarter. Mariner LLC now owns 5,785 shares of the technology company's stock worth $486,000 after buying an additional 333 shares in the last quarter. Guggenheim Capital LLC raised its stake in Lumentum by 32.8% in the 4th quarter. Guggenheim Capital LLC now owns 10,364 shares of the technology company's stock valued at $870,000 after acquiring an additional 2,562 shares during the period. NewEdge Advisors LLC lifted its holdings in Lumentum by 202.0% during the fourth quarter. NewEdge Advisors LLC now owns 5,711 shares of the technology company's stock valued at $479,000 after purchasing an additional 3,820 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Lumentum by 80.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 11,700 shares of the technology company's stock worth $982,000 after purchasing an additional 5,200 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Lumentum by 529.1% in the fourth quarter. First Trust Advisors LP now owns 86,981 shares of the technology company's stock valued at $7,302,000 after purchasing an additional 73,155 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.