Lumentum Holdings Inc (NASDAQ:LITE) CEO Alan S. Lowe sold 10,779 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $59.87, for a total value of $645,338.73. Following the sale, the chief executive officer now owns 192,132 shares in the company, valued at $11,502,942.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Lumentum stock opened at $59.71 on Thursday. The stock’s 50 day moving average is $56.06 and its 200 day moving average is $52.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.53 and a quick ratio of 3.76. The firm has a market cap of $4.48 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.11 and a beta of 1.36. Lumentum Holdings Inc has a one year low of $37.00 and a one year high of $69.95.
Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.21. The company had revenue of $404.60 million for the quarter, compared to analyst estimates of $383.54 million. Lumentum had a positive return on equity of 18.19% and a negative net margin of 2.33%. The firm’s quarterly revenue was up 34.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities analysts anticipate that Lumentum Holdings Inc will post 3.75 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the company. UBS Group set a $70.00 price target on Lumentum and gave the stock a “buy” rating in a report on Wednesday, May 8th. Piper Jaffray Companies boosted their price target on Lumentum from $68.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Barclays boosted their price target on Lumentum from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Zacks Investment Research cut Lumentum from a “hold” rating to a “strong sell” rating in a report on Saturday, August 10th. Finally, Rosenblatt Securities restated a “buy” rating and set a $80.00 price target on shares of Lumentum in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $69.13.
Institutional investors have recently bought and sold shares of the stock. Private Capital Group LLC lifted its stake in shares of Lumentum by 5,481.8% in the second quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock worth $36,000 after acquiring an additional 603 shares during the period. Advisory Services Network LLC lifted its stake in shares of Lumentum by 83.6% in the second quarter. Advisory Services Network LLC now owns 953 shares of the technology company’s stock worth $51,000 after acquiring an additional 434 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Lumentum by 31.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock worth $87,000 after acquiring an additional 386 shares during the period. First Manhattan Co. lifted its stake in shares of Lumentum by 150.0% in the second quarter. First Manhattan Co. now owns 2,500 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,500 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Lumentum by 95.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,919 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,422 shares during the period. 94.74% 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 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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