Yuen Wupen Sells 265 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Key Points

• Yuen Wupen, an insider at Lumentum Holdings Inc., sold 265 shares at an average price of $99.92, totaling approximately $26,478.80, which decreased their stock position by 0.33%.
• Lumentum stock experienced a trading increase, hitting $104.52 amid a trading volume of 914,397 shares, with its 1-year high noted at $105.47.
• Analysts hold a mixed outlook on Lumentum, with a consensus rating of "Moderate Buy" and an average price target of $87.73, reflecting varied sentiments among brokerages regarding the stock's performance.

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) insider Yuen Wupen sold 265 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $99.92, for a total transaction of $26,478.80. Following the transaction, the insider owned 79,773 shares of the company's stock, valued at approximately $7,970,918.16. This represents a 0.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, July 21st, Yuen Wupen sold 264 shares of Lumentum stock. The shares were 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 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 Performance

Lumentum stock traded up $1.67 during midday trading on Friday, hitting $104.52. The company's stock had a trading volume of 914,397 shares, compared to its average volume of 2,228,157. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $105.47. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.72 and a quick ratio of 3.53. The company has a 50-day moving average price of $87.54 and a two-hundred day moving average price of $76.31.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $425.20 million during the quarter, compared to analysts' expectations of $418.18 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business's revenue was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on LITE. Rosenblatt Securities reiterated a "buy" rating and issued a $105.00 price target on shares of Lumentum in a research note on Thursday, June 12th. B. Riley raised their target price on shares of Lumentum from $65.00 to $73.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Susquehanna raised their target price on shares of Lumentum from $95.00 to $125.00 and gave the stock a "positive" rating in a research note on Tuesday. Barclays set a $75.00 target price on shares of Lumentum and gave the stock an "overweight" rating in a research note 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 issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $87.73.

Institutional Investors Weigh In On Lumentum

Large investors have recently modified their holdings of the business. CoreCap Advisors LLC boosted its holdings in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after purchasing an additional 380 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Lumentum in the 1st quarter valued at $25,000. Rakuten Securities Inc. grew its holdings in shares of Lumentum by 164.4% during the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock valued at $30,000 after purchasing an additional 296 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Lumentum by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock valued at $32,000 after purchasing an additional 260 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Lumentum during the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 94.05% of the company's stock.

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.

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