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 the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $108.34, for a total transaction of $26,109.94. Following the completion of the transaction, the insider directly owned 78,597 shares in the company, valued at approximately $8,515,198.98. This represents a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction 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 transaction of $26,986.08.
• On Monday, May 19th, Yuen Wupen sold 289 shares of Lumentum stock. The shares were 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 stock was 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 stock was sold at an average price of $71.80, for a total transaction of $317,786.80.

Lumentum Stock Up 4.6%

LITE traded up $5.14 during trading on Friday, hitting $116.27. 2,693,203 shares of the company's stock traded hands, compared to its average volume of 2,094,186. The company's 50 day simple moving average is $94.82 and its two-hundred day simple moving average is $77.89. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of -18.03 and a beta of 1.33. 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 Holdings Inc. has a 12-month low of $42.05 and a 12-month high of $116.35.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LITE shares. Northland Securities set a $80.00 price target on shares of Lumentum in a research report on Wednesday, May 7th. Susquehanna raised their target price on Lumentum from $95.00 to $125.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. B. Riley upped their price objective on shares of Lumentum from $65.00 to $73.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Barclays set a $75.00 price objective on shares of Lumentum and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $100.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.20.

Hedge Funds Weigh In On Lumentum

A number of large investors have recently added to or reduced their stakes in LITE. Intech Investment Management LLC boosted its holdings in Lumentum by 87.6% in the second quarter. Intech Investment Management LLC now owns 26,428 shares of the technology company's stock valued at $2,512,000 after purchasing an additional 12,338 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Lumentum by 7.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,831 shares of the technology company's stock worth $1,695,000 after purchasing an additional 1,289 shares in the last quarter. Allianz SE acquired a new stake in shares of Lumentum during the 2nd quarter worth approximately $665,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Lumentum by 7.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 26,486 shares of the technology company's stock worth $2,518,000 after buying an additional 1,802 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Lumentum by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,260,940 shares of the technology company's stock valued at $119,884,000 after purchasing an additional 10,027 shares during the period. 94.05% of the stock is currently owned by institutional investors.

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.

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