Insider Selling: Lumentum Holdings Inc (NASDAQ:LITE) COO Sells 3,221 Shares of Stock

Lumentum Holdings Inc (NASDAQ:LITE) COO Vincent Retort sold 3,221 shares of Lumentum stock in a transaction on Friday, November 15th. The stock was sold at an average price of $68.59, for a total value of $220,928.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Vincent Retort also recently made the following trade(s):

  • On Monday, November 18th, Vincent Retort sold 1,204 shares of Lumentum stock. The stock was sold at an average price of $68.91, for a total value of $82,967.64.
  • On Wednesday, August 28th, Vincent Retort sold 8,904 shares of Lumentum stock. The stock was sold at an average price of $56.74, for a total value of $505,212.96.

Lumentum stock traded up $0.34 during midday trading on Tuesday, reaching $69.25. The stock had a trading volume of 826,500 shares, compared to its average volume of 1,502,071. Lumentum Holdings Inc has a 12 month low of $37.29 and a 12 month high of $69.41. The firm’s 50-day moving average price is $58.72 and its 200 day moving average price is $54.95. The firm has a market capitalization of $5.32 billion, a PE ratio of 20.98, a P/E/G ratio of 1.72 and a beta of 1.37. The company has a quick ratio of 3.85, a current ratio of 4.49 and a debt-to-equity ratio of 0.58.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.24. Lumentum had a positive return on equity of 17.81% and a negative net margin of 2.18%. The business had revenue of $449.90 million for the quarter, compared to analysts’ expectations of $448.16 million. During the same period in the previous year, the business posted $1.31 EPS. The firm’s quarterly revenue was up 27.1% compared to the same quarter last year. Equities research analysts expect that Lumentum Holdings Inc will post 3.99 EPS for the current year.

LITE has been the topic of a number of recent analyst reports. TheStreet upgraded Lumentum from a “c+” rating to a “b” rating in a research note on Friday, November 1st. Stifel Nicolaus set a $70.00 target price on Lumentum and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. set a $74.00 target price on Lumentum and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays lifted their target price on Lumentum from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $80.00 target price on shares of Lumentum in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Lumentum presently has a consensus rating of “Buy” and an average target price of $71.07.

A number of institutional investors have recently made changes to their positions in the stock. First Allied Advisory Services Inc. bought a new stake in Lumentum in the 3rd quarter valued at about $286,000. Tower Research Capital LLC TRC grew its holdings in Lumentum by 106.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,365 shares of the technology company’s stock valued at $180,000 after buying an additional 1,732 shares in the last quarter. First Trust Advisors LP grew its holdings in Lumentum by 34.0% during the 3rd quarter. First Trust Advisors LP now owns 73,145 shares of the technology company’s stock valued at $3,918,000 after buying an additional 18,566 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Lumentum by 6.6% during the 3rd quarter. LS Investment Advisors LLC now owns 4,003 shares of the technology company’s stock valued at $214,000 after buying an additional 249 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in Lumentum during the 3rd quarter valued at about $728,000. Institutional investors and hedge funds own 93.84% of the company’s stock.

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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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