Lumentum Holdings Inc (NASDAQ:LITE) CEO Alan S. Lowe sold 2,205 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $58.26, for a total value of $128,463.30. Following the transaction, the chief executive officer now owns 192,132 shares of the company’s stock, valued at $11,193,610.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

LITE opened at $58.72 on Friday. The stock has a 50-day moving average price of $56.19 and a 200-day moving average price of $52.87. Lumentum Holdings Inc has a 12-month low of $37.00 and a 12-month high of $69.95. The company has a current ratio of 4.53, a quick ratio of 3.76 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.58 billion, a P/E ratio of 17.79, a PEG ratio of 1.14 and a beta of 1.36.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.21. The firm had revenue of $404.60 million during the quarter, compared to analysts’ expectations of $383.54 million. Lumentum had a positive return on equity of 18.19% and a negative net margin of 2.33%. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. On average, equities research analysts predict that Lumentum Holdings Inc will post 3.75 EPS for the current year.

LITE has been the subject of several recent analyst reports. Barclays boosted their target price on Lumentum from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Jefferies Financial Group cut their price objective on Lumentum from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Piper Jaffray Companies upped their price objective on Lumentum from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. MKM Partners reiterated a “buy” rating and issued a $76.00 price objective (up from $60.00) on shares of Lumentum in a report on Friday, August 9th. Finally, BidaskClub upgraded Lumentum from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Lumentum has an average rating of “Buy” and a consensus price target of $69.13.

Hedge funds have recently modified their holdings of the stock. Private Capital Group LLC boosted its holdings in Lumentum by 5,481.8% during the 2nd quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock valued at $36,000 after acquiring an additional 603 shares during the period. Advisory Services Network LLC boosted its holdings in Lumentum by 83.6% during the 2nd quarter. Advisory Services Network LLC now owns 953 shares of the technology company’s stock valued at $51,000 after acquiring an additional 434 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Lumentum by 31.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock valued at $87,000 after acquiring an additional 386 shares during the period. First Manhattan Co. boosted its holdings in Lumentum by 150.0% during the 2nd quarter. First Manhattan Co. now owns 2,500 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,500 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Lumentum by 95.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,919 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,422 shares during the period. Institutional investors own 94.74% of the company’s stock.

Lumentum Company Profile

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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.

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