Lumentum (NASDAQ:LITE) Insider Yuen Wupen Sells 500 Shares

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $882.15, for a total transaction of $441,075.00. Following the sale, the insider directly owned 91,729 shares of the company’s stock, valued at approximately $80,918,737.35. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 24th, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $824.24, for a total transaction of $412,120.00.
• On Friday, August 21st, Yuen Wupen sold 500 shares of Lumentum stock. The shares were sold at an average price of $898.15, for a total transaction of $449,075.00.
• On Thursday, August 20th, Yuen Wupen sold 1,500 shares of Lumentum stock. The stock was sold at an average price of $827.82, for a total transaction of $1,241,730.00.

Lumentum Trading Up 6.0%

Shares of LITE stock traded up $53.46 during trading hours on Wednesday, reaching $939.03. The company had a trading volume of 4,467,922 shares, compared to its average volume of 5,224,733. The company has a 50 day moving average of $808.80 and a 200 day moving average of $801.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The firm has a market cap of $84.23 billion, a price-to-earnings ratio of -11.42 and a beta of 1.50. Lumentum Holdings Inc. has a 1-year low of $123.78 and a 1-year high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.26. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm’s revenue was up 109.3% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post 19.76 EPS for the current year.

Hedge Funds Weigh In On Lumentum

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in shares of Lumentum by 112,343.2% in the second quarter. California State Teachers Retirement System now owns 92,237,160 shares of the technology company’s stock valued at $79,145,018,000 after purchasing an additional 92,155,130 shares in the last quarter. Jupiter Topco LLC acquired a new stake in Lumentum in the 2nd quarter valued at approximately $1,621,396,000. Arrowstreet Capital Limited Partnership raised its position in Lumentum by 8,579.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after buying an additional 1,545,199 shares during the last quarter. Norges Bank bought a new stake in Lumentum in the 4th quarter valued at approximately $474,495,000. Finally, Value Aligned Research Advisors LLC acquired a new position in Lumentum during the 4th quarter worth approximately $432,062,000. Institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Lumentum in a research note on Wednesday, August 12th. Loop Capital boosted their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. BNP Paribas Exane upped their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. Finally, TD Cowen raised their price target on Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and an average price target of $1,044.67.

About Lumentum

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.