Lumentum Holdings Inc. (LITE) CFO Aaron Tachibana Sells 5,180 Shares
Lumentum Holdings Inc. (NASDAQ:LITE) CFO Aaron Tachibana sold 5,180 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $40.10, for a total transaction of $207,718.00. Following the completion of the transaction, the chief financial officer now owns 47,548 shares in the company, valued at approximately $1,906,674.80. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Lumentum Holdings Inc. (NASDAQ:LITE) traded down 3.377% during midday trading on Monday, reaching $40.775. 405,189 shares of the company traded hands. The stock has a market capitalization of $2.45 billion, a P/E ratio of 755.093 and a beta of 0.63. Lumentum Holdings Inc. has a 1-year low of $18.10 and a 1-year high of $45.25. The firm has a 50-day moving average of $39.51 and a 200-day moving average of $31.91.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business earned $258.10 million during the quarter, compared to the consensus estimate of $251.95 million. Lumentum Holdings had a return on equity of 15.22% and a net margin of 0.62%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. On average, analysts predict that Lumentum Holdings Inc. will post $2.01 earnings per share for the current year.
A number of large investors have recently modified their holdings of LITE. JPMorgan Chase & Co. increased its stake in shares of Lumentum Holdings by 44.3% in the first quarter. JPMorgan Chase & Co. now owns 150,064 shares of the company’s stock valued at $4,047,000 after buying an additional 46,065 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Lumentum Holdings by 237.9% in the first quarter. UBS Asset Management Americas Inc. now owns 134,840 shares of the company’s stock valued at $3,637,000 after buying an additional 94,936 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Lumentum Holdings during the first quarter valued at $9,856,000. AMP Capital Investors Ltd purchased a new stake in Lumentum Holdings during the first quarter worth approximately $277,000. Finally, Summit Partners Public Asset Management LLC purchased a new stake in Lumentum Holdings during the first quarter worth approximately $8,091,000. 79.33% of the stock is owned by institutional investors and hedge funds.
LITE has been the subject of a number of recent analyst reports. MKM Partners boosted their target price on Lumentum Holdings from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. B. Riley reissued a “buy” rating and issued a $41.50 target price on shares of Lumentum Holdings in a research report on Wednesday, August 10th. Zacks Investment Research raised Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Tuesday, August 16th. Stifel Nicolaus boosted their target price on Lumentum Holdings from $31.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $38.00 target price on shares of Lumentum Holdings in a research report on Wednesday, September 7th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target 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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