Insider Selling: Lumentum Holdings Inc (NASDAQ:LITE) EVP Sells $73,520.36 in Stock

Lumentum Holdings Inc (NASDAQ:LITE) EVP Jason Reinhardt sold 1,228 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $59.87, for a total transaction of $73,520.36. Following the transaction, the executive vice president now owns 62,666 shares in the company, valued at approximately $3,751,813.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jason Reinhardt also recently made the following trade(s):

  • On Friday, August 16th, Jason Reinhardt sold 253 shares of Lumentum stock. The shares were sold at an average price of $58.26, for a total transaction of $14,739.78.

Shares of NASDAQ LITE opened at $58.72 on Friday. The firm’s 50 day moving average price is $56.19 and its 200-day moving average price is $52.87. The company has a market cap of $4.58 billion, a PE ratio of 17.79, a P/E/G ratio of 1.14 and a beta of 1.36. Lumentum Holdings Inc has a 52-week low of $37.00 and a 52-week high of $69.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.76 and a current ratio of 4.53.

Lumentum (NASDAQ:LITE) last issued its earnings results on Thursday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.21. The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $383.54 million. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The business’s revenue was up 34.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. On average, analysts forecast that Lumentum Holdings Inc will post 3.75 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ellis Investment Partners LLC increased its stake in Lumentum by 5,816.5% in the 1st quarter. Ellis Investment Partners LLC now owns 1,488,472 shares of the technology company’s stock worth $1,488,000 after buying an additional 1,463,314 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Lumentum by 2,178.5% during the second quarter. Nuveen Asset Management LLC now owns 1,372,183 shares of the technology company’s stock worth $73,289,000 after buying an additional 1,311,961 shares during the period. Northern Trust Corp increased its stake in shares of Lumentum by 1.0% during the second quarter. Northern Trust Corp now owns 1,230,642 shares of the technology company’s stock worth $65,729,000 after buying an additional 12,251 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Lumentum by 113.6% during the second quarter. Westfield Capital Management Co. LP now owns 1,027,148 shares of the technology company’s stock worth $54,860,000 after buying an additional 546,318 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in shares of Lumentum by 11.1% during the second quarter. Eagle Asset Management Inc. now owns 974,473 shares of the technology company’s stock worth $52,046,000 after buying an additional 97,099 shares during the period. Hedge funds and other institutional investors own 94.74% of the company’s stock.

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a “strong-buy” rating and set a $70.00 price objective (up previously from $62.00) on shares of Lumentum in a research note on Friday, August 9th. UBS Group set a $70.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of Lumentum from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 10th. DA Davidson set a $75.00 price objective on shares of Lumentum and gave the stock a “buy” rating in a research note on Monday, May 20th. Finally, MKM Partners reissued a “buy” rating and set a $76.00 price objective (up previously from $60.00) on shares of Lumentum in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Lumentum has a consensus rating of “Buy” and an average price target of $69.13.

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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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Insider Buying and Selling by Quarter for Lumentum (NASDAQ:LITE)

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