Lumentum Holdings Inc. (NASDAQ:LITE) Insider Yuen Wupen Sells 4,426 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 4,426 shares of the company’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $71.80, for a total value of $317,786.80. Following the completion of the sale, the insider now owns 92,099 shares of the company’s stock, valued at $6,612,708.20. This trade represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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.

Lumentum Stock Up 0.2%

LITE opened at $77.95 on Friday. The firm has a 50-day simple moving average of $61.62 and a two-hundred day simple moving average of $74.99. Lumentum Holdings Inc. has a 52 week low of $38.29 and a 52 week high of $104.00. The company has a market capitalization of $5.41 billion, a PE ratio of -10.14 and a beta of 1.18. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. The business had revenue of $425.20 million during the quarter, compared to the consensus estimate of $418.18 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC boosted its holdings in shares of Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after purchasing an additional 680 shares during the last quarter. United Services Automobile Association bought a new position in shares of Lumentum during the 1st quarter valued at about $279,000. Scientech Research LLC boosted its holdings in shares of Lumentum by 37.4% during the 1st quarter. Scientech Research LLC now owns 13,266 shares of the technology company’s stock valued at $827,000 after purchasing an additional 3,613 shares during the last quarter. Petrus Trust Company LTA bought a new position in shares of Lumentum in the 1st quarter valued at about $428,000. Finally, PointState Capital LP bought a new position in shares of Lumentum in the 1st quarter valued at about $213,503,000. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Rosenblatt Securities upped their target price on shares of Lumentum from $85.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Morgan Stanley dropped their target price on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. UBS Group dropped their target price on shares of Lumentum from $96.00 to $78.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Barclays set a $75.00 target price on shares of Lumentum and gave the stock an “overweight” rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.20.

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.