Yuen Wupen Sells 241 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Key Points

• Yuen Wupen, an insider at Lumentum Holdings Inc., sold 241 shares of stock for approximately $26,109.94, decreasing their ownership to 78,597 shares valued at around $8.5 million.
• Lumentum's stock price increased by 4.6%, reaching $116.27 after the latest trading session, with a significant volume exceeding 2.6 million shares.
• Analysts generally hold a Moderate Buy rating for Lumentum's stock, with a consensus price target of $88.20, as several institutions have recently adjusted their stake in the company.

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) insider Yuen Wupen sold 241 shares of Lumentum stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $108.34, for a total value of $26,109.94. Following the sale, the insider directly owned 78,597 shares in the company, valued at $8,515,198.98. The trade was a 0.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, July 23rd, Yuen Wupen sold 265 shares of Lumentum stock. The stock was sold at an average price of $99.92, for a total value of $26,478.80.
• On Monday, July 21st, Yuen Wupen sold 264 shares of Lumentum stock. The stock was sold at an average price of $102.22, for a total value of $26,986.08.
• 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 value of $21,929.32.
• On Friday, May 16th, Yuen Wupen sold 290 shares of Lumentum stock. The stock was sold at an average price of $77.98, for a total value of $22,614.20.
• On Thursday, May 15th, Yuen Wupen sold 4,716 shares of Lumentum stock. The stock was sold at an average price of $76.87, for a total value of $362,518.92.
• On Tuesday, May 13th, Yuen Wupen sold 4,426 shares of Lumentum stock. The stock was sold at an average price of $71.80, for a total value of $317,786.80.

Lumentum Stock Down 0.5%

Shares of NASDAQ:LITE traded down $0.62 on Wednesday, reaching $119.05. The company had a trading volume of 6,227,500 shares, compared to its average volume of 2,546,020. Lumentum Holdings Inc. has a twelve month low of $45.50 and a twelve month high of $129.98. The stock has a 50-day moving average price of $96.45 and a 200 day moving average price of $78.01. The stock has a market capitalization of $8.26 billion, a P/E ratio of -18.48 and a beta of 1.33. The company has a quick ratio of 3.53, a current ratio of 4.72 and a debt-to-equity ratio of 2.91.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 8.69% and a negative net margin of 29.87%. The company had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business's quarterly revenue was up 55.9% compared to the same quarter last year. On average, equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Hedge Funds Weigh In On Lumentum

Large investors have recently made changes to their positions in the business. CoreCap Advisors LLC lifted its position in shares of Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after purchasing an additional 380 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lumentum during the 2nd quarter worth about $38,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Lumentum during the 1st quarter worth about $25,000. MAI Capital Management lifted its position in shares of Lumentum by 27.0% during the 2nd quarter. MAI Capital Management now owns 452 shares of the technology company's stock worth $43,000 after purchasing an additional 96 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its position in shares of Lumentum by 164.4% during the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after purchasing an additional 296 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $105.00 price target on shares of Lumentum in a report on Thursday, June 12th. JPMorgan Chase & Co. lifted their price target on Lumentum from $100.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Raymond James Financial lifted their price target on Lumentum from $125.00 to $145.00 and gave the company a "strong-buy" rating in a report on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $145.00 price target (up previously from $135.00) on shares of Lumentum in a report on Wednesday. Finally, Wolfe Research assumed coverage on Lumentum in a report on Tuesday. They set an "outperform" rating on the stock. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $112.00.

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.