Lumentum Holdings Inc. (NASDAQ:LITE) Insider Sells $21,929.32 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 289 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $75.88, for a total transaction of $21,929.32. Following the transaction, the insider now owns 81,008 shares of the company’s stock, valued at $6,146,887.04. This represents a 0.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 stock was 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 Price Performance

NASDAQ LITE opened at $75.95 on Thursday. The company has a 50 day simple moving average of $62.48 and a 200-day simple moving average of $75.24. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -9.88 and a beta of 1.18. Lumentum Holdings Inc. has a 52-week low of $38.29 and a 52-week high of $104.00.

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

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Lumentum by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock worth $463,198,000 after buying an additional 47,811 shares during the last quarter. Capital World Investors increased its holdings in Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock worth $302,231,000 after buying an additional 1,871,572 shares during the last quarter. PointState Capital LP acquired a new position in Lumentum in the first quarter worth approximately $213,503,000. Atreides Management LP increased its holdings in Lumentum by 6.8% in the first quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock worth $116,904,000 after buying an additional 119,938 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Lumentum by 1.1% in the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock worth $107,913,000 after buying an additional 19,085 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LITE shares. UBS Group reduced their price objective on shares of Lumentum from $96.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Rosenblatt Securities upped their price objective on shares of Lumentum from $85.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Lumentum from $105.00 to $73.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus upped their price objective on shares of Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley reduced their price target on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.20.

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.