Lumentum Holdings Inc (NASDAQ:LITE) COO Vincent Retort sold 4,908 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $59.88, for a total transaction of $293,891.04. Following the completion of the transaction, the chief operating officer now directly owns 90,018 shares in the company, valued at $5,390,277.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Vincent Retort also recently made the following trade(s):
- On Friday, August 16th, Vincent Retort sold 993 shares of Lumentum stock. The shares were sold at an average price of $58.26, for a total transaction of $57,852.18.
Shares of NASDAQ:LITE opened at $59.71 on Thursday. The company’s 50 day moving average price is $56.06 and its two-hundred day moving average price is $52.82. Lumentum Holdings Inc has a 12-month low of $37.00 and a 12-month high of $69.95. The firm has a market cap of $4.61 billion, a PE ratio of 18.33, a PEG ratio of 1.15 and a beta of 1.36. The company has a quick ratio of 3.76, a current ratio of 4.53 and a debt-to-equity ratio of 0.56.
Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.21. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The firm had revenue of $404.60 million for the quarter, compared to analyst estimates of $383.54 million. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 34.4% compared to the same quarter last year. On average, research analysts expect that Lumentum Holdings Inc will post 3.75 EPS for the current year.
LITE has been the topic of several research analyst reports. Barclays increased their price target on shares of Lumentum from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Piper Jaffray Companies increased their price target on shares of Lumentum from $68.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, August 9th. B. Riley reissued a “buy” rating and issued a $71.00 price target (up from $68.00) on shares of Lumentum in a report on Friday, August 9th. TheStreet lowered shares of Lumentum from a “b-” rating to a “c+” rating in a research report on Monday, May 13th. Finally, DA Davidson set a $75.00 target price on shares of Lumentum and gave the stock a “buy” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Lumentum currently has a consensus rating of “Buy” and an average price target of $69.13.
Several large investors have recently made changes to their positions in LITE. Private Capital Group LLC boosted its position in shares of Lumentum by 5,481.8% during the 2nd quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock worth $36,000 after acquiring an additional 603 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Lumentum by 83.6% during the 2nd quarter. Advisory Services Network LLC now owns 953 shares of the technology company’s stock worth $51,000 after acquiring an additional 434 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Lumentum by 31.0% during the 2nd 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 in the last quarter. First Manhattan Co. boosted its position in shares of Lumentum by 150.0% during the 2nd 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Lumentum by 95.0% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.
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.
Further Reading: Understanding Average Daily Trade Volume
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