Lumentum Holdings Inc. (LITE) CEO Alan S. Lowe Sells 4,351 Shares of Stock
Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 4,351 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $41.82, for a total transaction of $181,958.82. Following the sale, the chief executive officer now directly owns 151,220 shares in the company, valued at approximately $6,324,020.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Lumentum Holdings Inc. (NASDAQ:LITE) opened at 41.36 on Friday. Lumentum Holdings Inc. has a one year low of $13.97 and a one year high of $42.35. The firm’s market cap is $2.48 billion. The stock’s 50 day moving average is $36.66 and its 200 day moving average is $28.51.
Lumentum Holdings (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The firm had revenue of $241.70 million for the quarter, compared to analysts’ expectations of $238.52 million. Lumentum Holdings had a net margin of 1.01% and a return on equity of 11.91%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. On average, analysts predict that Lumentum Holdings Inc. will post $1.86 earnings per share for the current fiscal year.
A number of analysts have weighed in on LITE shares. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Lumentum Holdings in a research note on Wednesday, June 15th. Zacks Investment Research raised shares of Lumentum Holdings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 6th. MKM Partners boosted their target price on shares of Lumentum Holdings from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, July 20th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Lumentum Holdings in a research note on Monday, August 8th. Finally, B. Riley reissued a “buy” rating and issued a $41.50 price objective on shares of Lumentum Holdings in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $37.50.
Several hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund bought a new stake in Lumentum Holdings during the first quarter valued at $1,020,000. Hilltop Park Associates LLC bought a new stake in Lumentum Holdings during the first quarter valued at $1,618,000. TIAA CREF Investment Management LLC boosted its stake in Lumentum Holdings by 8.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,235,362 shares of the company’s stock valued at $33,318,000 after buying an additional 95,651 shares during the period. Teachers Advisors Inc. boosted its stake in Lumentum Holdings by 11.2% in the first quarter. Teachers Advisors Inc. now owns 1,814,794 shares of the company’s stock valued at $48,945,000 after buying an additional 182,114 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Lumentum Holdings by 11.6% in the first quarter. Prudential Financial Inc. now owns 119,924 shares of the company’s stock valued at $3,234,000 after buying an additional 12,486 shares during the period. Hedge funds and other institutional investors own 74.98% of the company’s stock.
About Lumentum Holdings
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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