Julia Suzanne Johnson Sells 2,058 Shares of Lumentum Holdings Inc. (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Julia Suzanne Johnson sold 2,058 shares of Lumentum stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $85.82, for a total value of $176,617.56. Following the transaction, the director now directly owns 23,287 shares in the company, valued at approximately $1,998,490.34. The trade was a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Lumentum Price Performance

Shares of LITE opened at $83.77 on Thursday. The company has a debt-to-equity ratio of 2.87, a current ratio of 5.36 and a quick ratio of 4.04. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -10.12 and a beta of 0.88. The business’s 50-day moving average is $70.61 and its 200-day moving average is $57.60. Lumentum Holdings Inc. has a fifty-two week low of $38.28 and a fifty-two week high of $91.21.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LITE. Vanguard Group Inc. increased its stake in shares of Lumentum by 0.3% in the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock worth $341,786,000 after acquiring an additional 22,088 shares during the last quarter. Quest Partners LLC increased its position in Lumentum by 776,400.0% in the 3rd quarter. Quest Partners LLC now owns 7,765 shares of the technology company’s stock worth $492,000 after purchasing an additional 7,764 shares during the last quarter. Swedbank AB purchased a new stake in shares of Lumentum during the 1st quarter worth about $71,025,000. West Tower Group LLC acquired a new stake in shares of Lumentum during the 3rd quarter valued at about $444,000. Finally, International Assets Investment Management LLC grew its stake in shares of Lumentum by 6,238.0% in the 3rd quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company’s stock valued at $1,342,000 after buying an additional 20,835 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

LITE has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Lumentum from $53.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Needham & Company LLC raised their target price on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Raymond James increased their price objective on Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Susquehanna lifted their target price on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Lumentum presently has a consensus rating of “Hold” and an average target price of $74.85.

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