Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali Sells 2,172 Shares of Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali sold 2,172 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $78.34, for a total value of $170,154.48. Following the transaction, the chief financial officer now directly owns 51,976 shares of the company’s stock, valued at approximately $4,071,799.84. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wajid Ali also recently made the following trade(s):

• On Friday, November 29th, Wajid Ali sold 29,887 shares of Lumentum stock. The stock was sold at an average price of $85.06, for a total transaction of $2,542,188.22.

Lumentum Trading Down 1.2 %

Shares of LITE opened at $76.34 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 4.76 and a quick ratio of 3.60. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $104.00. The stock’s 50-day simple moving average is $85.61 and its 200 day simple moving average is $73.24.

Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.41). Lumentum had a negative return on equity of 7.25% and a negative net margin of 36.98%. Research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on LITE shares. Morgan Stanley lowered their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Stifel Nicolaus boosted their price objective on Lumentum from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, February 7th. UBS Group lifted their target price on Lumentum from $93.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. B. Riley increased their price target on Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Lumentum in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $88.07.

Hedge Funds Weigh In On Lumentum

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its stake in Lumentum by 85.5% in the third quarter. Quarry LP now owns 436 shares of the technology company’s stock valued at $28,000 after purchasing an additional 201 shares in the last quarter. UMB Bank n.a. grew its position in Lumentum by 301.2% in the fourth quarter. UMB Bank n.a. now owns 337 shares of the technology company’s stock worth $28,000 after acquiring an additional 253 shares in the last quarter. Jones Financial Companies Lllp raised its position in Lumentum by 54.2% during the fourth quarter. Jones Financial Companies Lllp now owns 370 shares of the technology company’s stock valued at $31,000 after purchasing an additional 130 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Lumentum during the third quarter worth about $33,000. Finally, CoreCap Advisors LLC increased its position in shares of Lumentum by 2,235.3% during the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company’s stock valued at $33,000 after purchasing an additional 380 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

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.