Lumentum Holdings Inc. (NASDAQ:LITE) CAO Matthew Joseph Sepe Sells 8,172 Shares of Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CAO Matthew Joseph Sepe sold 8,172 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $87.60, for a total transaction of $715,867.20. Following the sale, the chief accounting officer now owns 21,138 shares of the company’s stock, valued at approximately $1,851,688.80. This represents a 27.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Lumentum Stock Down 2.2 %

NASDAQ LITE traded down $1.84 during trading hours on Friday, reaching $83.29. 209,000 shares of the company traded hands, compared to its average volume of 1,467,911. Lumentum Holdings Inc. has a 12 month low of $38.28 and a 12 month high of $89.70. The company has a current ratio of 5.36, a quick ratio of 4.04 and a debt-to-equity ratio of 2.87. The company has a 50 day moving average of $65.76 and a two-hundred day moving average of $55.13.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Wednesday, August 14th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. The firm had revenue of $308.30 million for the quarter, compared to the consensus estimate of $301.36 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s revenue was down 16.9% compared to the same quarter last year. As a group, analysts expect that Lumentum Holdings Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LITE. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Northland Securities boosted their price objective on shares of Lumentum from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Craig Hallum boosted their price objective on shares of Lumentum from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Bank of America boosted their price objective on shares of Lumentum from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley upped their target price on shares of Lumentum from $61.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.85.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LITE. Vanguard Group Inc. raised its holdings in shares of Lumentum by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,218,293 shares of the technology company’s stock worth $341,786,000 after purchasing an additional 22,088 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Lumentum by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,703,969 shares of the technology company’s stock worth $86,760,000 after purchasing an additional 130,838 shares during the period. Atreides Management LP raised its holdings in shares of Lumentum by 28.5% during the third quarter. Atreides Management LP now owns 1,691,017 shares of the technology company’s stock worth $107,177,000 after purchasing an additional 375,389 shares during the period. Earnest Partners LLC raised its holdings in shares of Lumentum by 6.0% during the first quarter. Earnest Partners LLC now owns 1,690,117 shares of the technology company’s stock worth $80,027,000 after purchasing an additional 95,428 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Lumentum during the first quarter worth $71,025,000. 94.05% of the stock is currently owned by institutional investors.

About Lumentum

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.