Lumentum Holdings Inc. (NASDAQ:LITE) CEO Alan S. Lowe sold 1,093 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $40.50, for a total transaction of $44,266.50. Following the completion of the sale, the chief executive officer now owns 148,162 shares in the company, valued at approximately $6,000,561. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded up 1.48% during mid-day trading on Tuesday, reaching $41.10. 752,408 shares of the company’s stock were exchanged. The stock has a market capitalization of $2.47 billion, a PE ratio of 761.11 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 company’s 50 day moving average is $39.47 and its 200 day moving average is $32.24.

Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.05. The firm had revenue of $258.10 million for the quarter, compared to analyst estimates of $251.95 million. Lumentum Holdings had a net margin of 0.62% and a return on equity of 15.22%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities research analysts anticipate that Lumentum Holdings Inc. will post $2.01 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Lumentum Holdings (NASDAQ:LITE)

Several equities research analysts recently issued reports on the stock. Goldman Sachs Group Inc. cut shares of Lumentum Holdings from a “neutral” rating to a “sell” rating and set a $36.00 target price on the stock. in a report on Tuesday, October 11th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $47.00 price target (up previously from $38.00) on shares of Lumentum Holdings in a research note on Friday, October 7th. B. Riley reiterated a “buy” rating and set a $50.00 price target on shares of Lumentum Holdings in a research note on Wednesday, October 5th. Jefferies Group lifted their price target on shares of Lumentum Holdings from $39.00 to $51.50 and gave the stock a “buy” rating in a research note on Monday, October 3rd. Finally, MKM Partners lifted their price target on shares of Lumentum Holdings from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, September 26th. Three equities 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 company has a consensus rating of “Buy” and an average target price of $41.40.

Several hedge funds have recently added to or reduced their stakes in LITE. Falcon Point Capital LLC acquired a new stake in Lumentum Holdings during the second quarter worth $5,202,000. Strs Ohio acquired a new stake in Lumentum Holdings during the second quarter worth $406,000. RS Investment Management Co. LLC raised its stake in Lumentum Holdings by 1,548.6% in the second quarter. RS Investment Management Co. LLC now owns 1,395,702 shares of the company’s stock worth $33,776,000 after buying an additional 1,311,042 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Lumentum Holdings by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,020 shares of the company’s stock worth $509,000 after buying an additional 100 shares during the last quarter. Finally, Skylands Capital LLC raised its stake in Lumentum Holdings by 20.7% in the second quarter. Skylands Capital LLC now owns 20,150 shares of the company’s stock worth $488,000 after buying an additional 3,450 shares during the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.

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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).

5 Day Chart for NASDAQ:LITE

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