Insider Selling: Lumentum Holdings Inc. (NASDAQ:LITE) Insider Sells $317,786.80 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Yuen Wupen sold 4,426 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $71.80, for a total transaction of $317,786.80. Following the transaction, the insider now directly owns 92,099 shares in the company, valued at $6,612,708.20. The trade was a 4.59% 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.

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

• On Thursday, May 15th, Yuen Wupen sold 4,716 shares of Lumentum stock. The shares were sold at an average price of $76.87, for a total transaction of $362,518.92.

Lumentum Stock Performance

NASDAQ LITE opened at $77.95 on Friday. The company’s 50 day moving average is $61.62 and its 200-day moving average is $75.06. 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 $5.41 billion, a P/E ratio of -10.14 and a beta of 1.18.

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.

Analysts Set New Price Targets

A number of research firms recently weighed in on LITE. Jefferies Financial Group began coverage on shares of Lumentum in a research report on Friday, February 21st. They set a “buy” rating on the stock. Stifel Nicolaus raised their price target on shares of Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Raymond James lowered their price objective on shares of Lumentum from $82.00 to $80.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, May 7th. B. Riley lifted their price objective on shares of Lumentum from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.20.

Institutional Trading of Lumentum

Several hedge funds and other institutional investors have recently modified their holdings of LITE. Skandinaviska Enskilda Banken AB publ purchased a new position in Lumentum during the first quarter valued at approximately $25,000. UMB Bank n.a. grew its stake in Lumentum by 301.2% during the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock valued at $28,000 after acquiring an additional 253 shares in the last quarter. Rakuten Securities Inc. grew its stake in Lumentum by 164.4% during the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company’s stock valued at $30,000 after acquiring an additional 296 shares in the last quarter. 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. Finally, Golden State Wealth Management LLC grew its stake in Lumentum by 103.2% during the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company’s stock valued at $32,000 after acquiring an additional 260 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.