Lumentum Holdings Inc. (NASDAQ:LITE) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 92.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,324 shares of the technology company’s stock after selling 263,617 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Lumentum were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. CoreCap Advisors LLC lifted its stake in Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock worth $33,000 after acquiring an additional 380 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Lumentum during the 1st quarter worth about $25,000. Rakuten Securities Inc. boosted its position in Lumentum by 164.4% during the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company’s stock worth $30,000 after acquiring an additional 296 shares during the period. Golden State Wealth Management LLC boosted its position in Lumentum by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company’s stock worth $32,000 after acquiring an additional 260 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Lumentum by 27.2% during the 4th quarter. Quadrant Capital Group LLC now owns 766 shares of the technology company’s stock worth $64,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LITE. JPMorgan Chase & Co. raised their price objective on Lumentum from $100.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. UBS Group decreased their price objective on Lumentum from $96.00 to $78.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Barclays set a $75.00 price objective on Lumentum and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Stifel Nicolaus lifted their price target on Lumentum from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Finally, Northland Securities set a $80.00 price target on Lumentum in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.20.

Insider Activity

In other news, CFO Wajid Ali sold 2,222 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $83.58, for a total transaction of $185,714.76. Following the transaction, the chief financial officer directly owned 47,460 shares in the company, valued at approximately $3,966,706.80. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vincent Retort sold 22,719 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $110.00, for a total transaction of $2,499,090.00. Following the completion of the sale, the insider directly owned 121,747 shares of the company’s stock, valued at approximately $13,392,170. This represents a 15.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,768 shares of company stock worth $8,294,633. 0.19% of the stock is currently owned by insiders.

Lumentum Stock Performance

NASDAQ LITE opened at $111.13 on Tuesday. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of -17.23 and a beta of 1.33. The company has a current ratio of 4.72, a quick ratio of 3.53 and a debt-to-equity ratio of 2.91. Lumentum Holdings Inc. has a 1-year low of $38.28 and a 1-year high of $114.12. The company has a 50 day moving average of $91.99 and a 200-day moving average of $77.21.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 6th. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $425.20 million during the quarter, compared to analysts’ expectations of $418.18 million. Lumentum had a negative return on equity of 8.69% and a negative net margin of 29.87%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. On average, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Lumentum 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.