Vincent Retort Sells 1,578 Shares of Lumentum Holdings Inc. (LITE) Stock
Lumentum Holdings Inc. (NASDAQ:LITE) COO Vincent Retort sold 1,578 shares of Lumentum Holdings stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $40.45, for a total value of $63,830.10. Following the transaction, the chief operating officer now directly owns 67,920 shares in the company, valued at $2,747,364. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Vincent Retort also recently made the following trade(s):
- On Wednesday, September 28th, Vincent Retort sold 4,643 shares of Lumentum Holdings stock. The stock was sold at an average price of $41.84, for a total value of $194,263.12.
- On Tuesday, August 23rd, Vincent Retort sold 1,523 shares of Lumentum Holdings stock. The stock was sold at an average price of $33.96, for a total value of $51,721.08.
Shares of Lumentum Holdings Inc. (NASDAQ:LITE) opened at 41.55 on Friday. Lumentum Holdings Inc. has a 12 month low of $18.10 and a 12 month high of $45.25. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 769.44 and a beta of 0.63. The company has a 50-day moving average price of $39.49 and a 200-day moving average price of $31.80.
Lumentum Holdings (NASDAQ:LITE) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. Lumentum Holdings had a return on equity of 15.22% and a net margin of 0.62%. The firm had revenue of $258.10 million for the quarter, compared to analysts’ expectations of $251.95 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, equities analysts anticipate that Lumentum Holdings Inc. will post $2.01 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in LITE. PineBridge Investments L.P. boosted its position in shares of Lumentum Holdings by 4.1% in the second quarter. PineBridge Investments L.P. now owns 6,015 shares of the company’s stock worth $146,000 after buying an additional 239 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Lumentum Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,581 shares of the company’s stock worth $159,000 after buying an additional 799 shares during the period. Pacad Investment Ltd. bought a new position in shares of Lumentum Holdings during the second quarter worth about $160,000. BlackRock Inc. boosted its position in shares of Lumentum Holdings by 11.2% in the third quarter. BlackRock Inc. now owns 4,749 shares of the company’s stock worth $198,000 after buying an additional 479 shares during the period. Finally, ProShare Advisors LLC bought a new position in shares of Lumentum Holdings during the second quarter worth about $214,000. 79.87% of the stock is currently owned by hedge funds and other institutional investors.
LITE has been the topic of several recent research reports. Needham & Company LLC raised Lumentum Holdings from a “buy” rating to a “strong-buy” rating and lifted their target price for the stock from $35.00 to $40.00 in a report on Monday, July 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Lumentum Holdings in a report on Monday, August 8th. 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. Stifel Nicolaus boosted their price objective on Lumentum Holdings from $31.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Finally, Jefferies Group boosted their price objective on Lumentum Holdings from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $41.40.
Lumentum Holdings Company Profile
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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