Alan S. Lowe Sells 10,000 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Alan S. Lowe sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total transaction of $835,800.00. Following the transaction, the director now directly owns 270,471 shares in the company, valued at $22,605,966.18. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Lumentum Stock Performance

NASDAQ LITE opened at $81.46 on Friday. The company’s 50 day moving average is $65.04 and its 200-day moving average is $75.03. Lumentum Holdings Inc. has a 12-month low of $38.29 and a 12-month high of $104.00. The company has a quick ratio of 3.60, a current ratio of 4.76 and a debt-to-equity ratio of 2.94. The firm has a market cap of $5.65 billion, a P/E ratio of -10.59 and a beta of 1.28.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share (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 company had revenue of $425.20 million for the quarter, compared to analyst estimates of $418.18 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

LITE has been the topic of a number of recent analyst reports. Rosenblatt Securities raised their price target on shares of Lumentum from $94.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday. BNP Paribas raised shares of Lumentum from a “neutral” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research report on Tuesday, March 11th. UBS Group lowered their price objective on shares of Lumentum from $96.00 to $78.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. B. Riley lifted their price objective on shares of Lumentum from $65.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Raymond James lifted their price objective on shares of Lumentum from $80.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.80.

Institutional Trading of Lumentum

Several hedge funds and other institutional investors have recently modified their holdings of the business. J.Safra Asset Management Corp raised its position in shares of Lumentum by 31.1% in the fourth quarter. J.Safra Asset Management Corp now owns 514 shares of the technology company’s stock valued at $43,000 after purchasing an additional 122 shares during the period. Jones Financial Companies Lllp grew its stake in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after acquiring an additional 130 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Lumentum by 27.2% during the fourth quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock valued at $64,000 after acquiring an additional 164 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in Lumentum by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock valued at $881,000 after acquiring an additional 176 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in Lumentum by 22.6% during the fourth quarter. Manchester Capital Management LLC now owns 1,029 shares of the technology company’s stock valued at $86,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.