Insider Selling: Lumentum Holdings Inc. (NASDAQ:LITE) CFO 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 shares were sold at an average price of $78.34, for a total transaction of $170,154.48. Following the completion of 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 trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $85.06, for a total transaction of $2,542,188.22.

Lumentum Stock Performance

NASDAQ LITE opened at $73.35 on Friday. Lumentum Holdings Inc. has a 52-week low of $38.28 and a 52-week high of $104.00. The company has a debt-to-equity ratio of 2.94, a quick ratio of 3.60 and a current ratio of 4.76. The firm has a 50-day moving average of $85.22 and a 200-day moving average of $73.69. The stock has a market cap of $5.08 billion, a PE ratio of -9.54 and a beta of 0.94.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. On average, sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Institutional Trading of Lumentum

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital World Investors raised its stake in Lumentum by 108.3% in the 4th quarter. Capital World Investors now owns 3,600,132 shares of the technology company’s stock worth $302,231,000 after purchasing an additional 1,871,572 shares in the last quarter. Alliancebernstein L.P. raised its stake in Lumentum by 1.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,711,956 shares of the technology company’s stock worth $143,719,000 after purchasing an additional 23,136 shares in the last quarter. Atreides Management LP raised its stake in Lumentum by 28.5% in the 3rd 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 in the last quarter. Nuveen Asset Management LLC increased its holdings in Lumentum by 98.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company’s stock valued at $103,122,000 after buying an additional 610,938 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Lumentum by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,195,605 shares of the technology company’s stock valued at $100,402,000 after buying an additional 9,442 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LITE. Barclays raised shares of Lumentum from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $125.00 in a research report on Friday, January 17th. Stifel Nicolaus lifted their price objective on shares of Lumentum from $95.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 price objective on shares of Lumentum in a research report on Friday, February 7th. B. Riley lifted their price objective on shares of Lumentum from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Raymond James lifted their price objective on shares of Lumentum from $94.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.07.

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.